Summary
The prices and trading volume for the Ethereum NFT collection Moonbirds experienced a sharp rise following the announcement that Yuga Labs had acquired the IP for the collection. This has led to speculation of insider trading, as there were significant spikes in sales volume and price in the days leading up to the announcement. Influencers and community members have called out the potential for insider trading on social media. Yuga Labs and Proof representatives have not commented on any known leaks ahead of the announcement.
Key Points
1. Prices and trading volume for the Ethereum NFT collection Moonbirds rose sharply following the announcement of Yuga Labs acquiring the IP for the collection alongside creator Proof. This has fueled speculation of insider trading ahead of the reveal.
2. Daily sales volume for Moonbirds NFTs had been relatively low throughout February, with only one exception on February 4. However, on February 14, sales volume spiked fivefold from the previous day, and it remained elevated on February 15. After the announcement, sales surged even further, reaching about $3.1 million.
3. The price floor of the Moonbirds collection experienced a spike in the days leading up to the Friday announcement. The price started at around $2,680 and climbed to $6,000 briefly before settling down to about $5,170. This rise in asset prices has raised concerns about potential insider trading.