The newest growth from the non-fungible token (NFT) market Blur has caught the crypto neighborhood’s consideration. A current airdrop, “Blur Season 2,” has led to a big motion of BLUR tokens in direction of varied crypto exchanges.
BLUR Token Movement To Exchanges Signifies Market Shift
According to Lookonchain, a famend on-chain analytics platform, roughly 307.6 million BLUR tokens, valued at roughly $97.5 million, have been claimed on this airdrop.
An airdrop within the context of crypto is a technique of distributing free tokens or cash as a reward to lively individuals on a particular blockchain or platform, on this case, Blur NFT marketplace.
This current declare of BLUR tokens has sparked notable exercise within the crypto exchanges, reflecting the rising curiosity and motion throughout the digital asset market, particularly with incentives akin to ‘airdrop.’
The information offered by Lookonchain reveals intriguing patterns of BLUR token distribution and alternate deposits. Among the a number of notable transactions, one consumer recognized as 深大高财生.eth reportedly deposited a hefty sum of 4.67 million BLUR, valued at $1.5 million, into the crypto alternate OKX.
Note that *深大高财生.eth deposited all 4.67M $BLUR ($1.5M) obtained from the airdrop into #OKX simply now.https://t.co/Q3KwyFBZVn pic.twitter.com/uxOtDYtKdH
— Lookonchain (@lookonchain) November 21, 2023
This is only a glimpse of the bigger pattern the place vital quantities of BLUR tokens are being transferred to exchanges, indicating a possible shift available in the market dynamics surrounding this digital asset.
Blur’s Impact And Future Prospects
Blur’s affect within the NFT market has been rising steadily. The platform lately announced its place because the primary Ethereum NFT market protocol in the course of the Season 2 airdrop.
This declare is supported by statistics from {the marketplace}: a buying and selling quantity that reached $6.1 billion, a consumer base comprising 260,165 distinctive customers, and a median market share of 65%. These figures underline Blur’s success and spotlight the exercise and excessive stakes concerned within the NFT market.
Looking forward, Blur just isn’t resting on its laurels. The extra announcement of the “Season 3” airdrop is already making a buzz within the crypto neighborhood.
With the tip of the season, we now begin Season 3, with new rewards for each NFT merchants and $BLUR holders. But first, a recap of what the Blur neighborhood completed in Season 2. pic.twitter.com/fSPgwYB9CU
— Blur (@blur_io) November 21, 2023
This new section, powered by Blast community – a Layer 2 community with native yield help from distinguished backers like Paradigm and Standard Crypto – guarantees to distribute rewards equally between NFT merchants and BLUR holders.
This strategic transfer might probably enhance the liquidity and accessibility of BLUR tokens, fostering a extra inclusive and optimistic surroundings for merchants and buyers.
Amid the heightened buying and selling exercise following the airdrop, the BLUR token has skilled a big surge, rising almost 10% prior to now 24 hours.
At the time of writing, BLUR trades at $0.37. This uptrend extends past value appreciation, with the token’s each day buying and selling quantity witnessing a notable improve. It at the moment stands at roughly $240 million, a considerable rise from the $76 million seen in the beginning of final week.
Featured picture from iStock, Chart from TradingView
