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Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
BLUR Token Bonanza

BLUR Token Bonanza: $97.5 Million Airdrop Sparks Frenzy In Crypto Exchanges

Samuel Edyme
by Samuel Edyme
1 year ago
·
Posted in Altcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The latest development from the non-fungible token (NFT) marketplace Blur has caught the crypto community’s attention. A recent airdrop, “Blur Season 2,” has led to a significant movement of BLUR tokens towards various crypto exchanges.

BLUR Token Movement To Exchanges Signifies Market Shift

According to Lookonchain, a renowned on-chain analytics platform, roughly 307.6 million BLUR tokens, valued at approximately $97.5 million, were claimed in this airdrop.

An airdrop in the context of crypto is a method of distributing free tokens or coins as a reward to active participants on a particular blockchain or platform, in this case, Blur NFT marketplace.

Related Reading: Trader Makes 800 ETH In Five Minutes On Blur NFT Marketplace

This recent claim of BLUR tokens has sparked notable activity in the crypto exchanges, reflecting the growing interest and movement within the digital asset market, especially with incentives such as ‘airdrop.’

The data provided by Lookonchain reveals intriguing patterns of BLUR token distribution and exchange deposits. Among the several notable transactions, one user identified 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 exchange OKX.

Note that *深大高财生.eth deposited all 4.67M $BLUR ($1.5M) received from the airdrop into #OKX just now.https://t.co/Q3KwyFBZVn pic.twitter.com/uxOtDYtKdH

— Lookonchain (@lookonchain) November 21, 2023

This is just a glimpse of the larger trend where significant amounts of BLUR tokens are being transferred to exchanges, indicating a potential shift in the market dynamics surrounding this digital asset.

Blur’s Impact And Future Prospects

Blur’s influence in the NFT marketplace has been growing steadily. The platform recently announced its position as the number one Ethereum NFT marketplace protocol during the Season 2 airdrop.

This claim is supported by statistics from the marketplace: a trading volume that reached $6.1 billion, a user base comprising 260,165 unique users, and an average market share of 65%. These figures underline Blur’s success and highlight the activity and high stakes involved in the NFT marketplace.

Looking ahead, Blur is not resting on its laurels. The additional announcement of the “Season 3” airdrop is already creating a buzz in the crypto community.

With the end of the season, we now start Season 3, with new rewards for both NFT traders and $BLUR holders. But first, a recap of what the Blur community accomplished in Season 2. pic.twitter.com/fSPgwYB9CU

— Blur (@blur_io) November 21, 2023

This new phase, powered by Blast network – a Layer 2 network with native yield support from prominent backers like Paradigm and Standard Crypto – promises to distribute rewards equally between NFT traders and BLUR holders.

This strategic move could potentially enhance the liquidity and accessibility of BLUR tokens, fostering a more inclusive and positive environment for traders and investors.

Related Reading: By The Numbers: The Scope Of This Solana Massive Airdrop, Who’s Eligible?

Amid the heightened trading activity following the airdrop, the BLUR token has experienced a significant surge, rising nearly 10% in the past 24 hours.

BLUR token price chart on TradingView
BLUR price is moving sideways on the 4-hour chart. Source: BLUR/USDT on TradingView.com

At the time of writing, BLUR trades at $0.37. This uptrend extends beyond price appreciation, with the token’s daily trading volume witnessing a notable increase. It currently stands at approximately $240 million, a substantial rise from the $76 million seen at the beginning of last week.

Featured image from iStock, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Samuel Edyme

Samuel Edyme

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Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

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