Renowned NFT trader @nfexdragon took to Twitter to share valuable insights on detecting manipulators in the BLUR NFT marketplace. In a comprehensive thread, the trader also referred to as SD, highlighted the telltale signs of manipulators, including their tendency to place multiple bids, rapidly inflate prices, and lure unsuspecting bidders into the illegal practice of spoofing. This informative post is a valuable resource for traders seeking to navigate the complex world of NFTs with confidence and integrity.
SD has successfully identified a manipulator who currently holds the 5th position on the BLUR NFT leaderboard, with the ID @9082D2. Through their expertise, SD has discovered that manipulators such as @9082D2 tend to target collections with over 30-80 items and inflate their bids to attract other traders. Once they have lured unsuspecting bidders, traders like @9082D2 would sell the entire collection quickly, leaving the other bidders with overpriced NFTs. This is a reminder to always exercise caution and diligence when participating in NFT trading.
Recognizing a shift in pricing patterns will prompt unwary bidders to offload their bags at a disadvantageous rate. The repercussions of this sell-off will ripple throughout the market, transferring the manipulated NFTs to multiple rounds of bidders, all of whom will bear the brunt of the loss until prices reach equilibrium and the manipulators commence the cycle anew.
SD provided valuable guidance to his followers, cautioning them against bidding with unknown buyers to avoid falling prey to market manipulators. He further advised those profiting from such manipulative activities to monitor the manipulators’ buying patterns closely. SD recommended that traders buy alongside them before prices are artificially inflated and sell to them during the spoof buying phase. These astute strategies can help traders navigate the market more confidently and successfully.
According to SD, implementing a purchasing strategy following a round of dumping can prove advantageous. This is because, during these periods, NFTs are often oversold, resulting in a lower cost than their true value. Such a tactic can lead to a profitable outcome for savvy investors.
SD’s educational focus is not on promoting spoofing but on empowering the community to combat manipulative tactics. His strategy aims to shift the manipulators from perpetrators to victims of their schemes, ultimately deterring them from distorting the NFT market.
