BLUR, a cryptocurrency backed by Paradigm, just lately gained important traction throughout the cryptocurrency universe because the token witnessed huge whale exercise as of immediately, November 27.
As per market information, whales transferred over 7 million BLUR to centralized exchanges like Binance and OKX.
The switch of cryptos to exchanges illustrates a attainable surge in provide, thereby leading to a lowered demand for the cryptocurrency. Concurrent with the switch of cryptos to exchanges, the BLUR worth additionally witnessed a considerable fall on the time of writing.
A Closer Look Into BLUR Whale Activity
According to the info provided by Spot on Chain, a platform facilitating blockchain monitoring, the BLUR worth witnessed a cool-down subsequent to the dumping of tokens to exchanges. Reportedly, a whale, 0x13d.., deposited 3.75 million BLUR to Binance and OKX at $0.629 roughly 4 hours in the past. The information portrayed that the pockets accrued these holdings from OKX at $0.535 two days in the past, hinting towards an estimated revenue of $353,000.
Furthermore, the second whale transaction that caught the eyes of crypto market fanatics transferred 1.67 million BLUR to Binance roughly 6 hours in the past. The pockets tackle, 0x387…, transferred $1.05 million price of BLUR to Binance at $0.629. Interestingly, the whale accrued these holdings from OKX at $0.375 5 days in the past, indicating an estimated revenue of $424,000. Furthermore, the pockets was discovered to be associated to orz-allinornothing.eth.
Besides the abovementioned transactions, a 3rd transaction stirred up speculations amongst crypto market fanatics, transferring 1.75 million BLUR to OKX.
As per the info, Wintermute Trading, a number one crypto market maker, deposited 1.75 million BLUR to OKX roughly 12 and 9 hours in the past. Data portrays that the market maker deposited 4.25 million BLUR to Binance and OKX up to now two days.
The talked about switch of cash to exchanges seems to fall in step with the latest plunge witnessed by the token.
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BLUR Price Plunges
At the time of writing, the BLUR worth witnessed a considerable fall of 12.12%, reaching $0.5274 immediately. However, the token showcased an outstanding surge of 54.11% over the previous week.
Besides, the twenty-four-hour buying and selling quantity additionally witnessed a 12.80% fall, reaching $358.95 thousand whereas writing.
The worth plunge within the token seems to return in alignment with the latest dumping of cash to exchanges, displaying a rise within the complete provide of the cryptocurrency.
Also learn: OKX Unveils Crypto Exchange And Wallet For Seamless DeFi Access In Brazil
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