MAYC Meltdown: Mutants Drowning in Debt on Blur

Mutant ape NFT and a graph showing price crash

Cirrus, a resident of Blur’s bidding pools, paints a grim picture of Mutant Ape Yacht Club (MAYC) and its Mutant serums. Prices have dived 20% in just a week, with loans and leveraged farming adding fuel to the fire.

Bad Time for Mutants

Things aren’t looking pretty for Mutants. Cirrus, a dedicated observer of the NFT scene, warns of a 20% price drop in a single week. To make matters worse, over 200 underwater loans currently reside on Blur, while a single farmer sits atop a mountain of 340 leveraged Mutants.

With such heavy leverage and sinking prices, new all-time lows seem like a real possibility. Cirrus even witnessed Mutants touch their lowest point ever just last night.

Cirrus screenshot of Mutant-backed loans on Blur

But there’s a glimmer of hope. Since then, the loan situation has improved somewhat, with the number of underwater loans dropping to around 100. The top farmer’s stash has also shrunk to 280.

A Good Eye on The Mutant Market

Cirrus emphasizes that he’s not spreading fear, but simply reporting what he sees from the murky depths of Blur. As someone who spends their time navigating the bidding pools, he’s well-positioned to observe the undercurrents of the Mutant market.

So, what’s next for Mutants? Only time will tell. But one thing’s for sure: the recent turbulence has left many diving for cover, while Cirrus keeps a watchful eye from the cold, dark depths.

Author: Candace

Candace loves the arts. She holds some bitcoins.