Friday, December 1, 2023

The online marketplace Blur which specializes in non-fungible tokens had a lot of sales but the value of its own digital currency, BLUR dropped by 28 percent during last month. Additionally, since it hit its highest ever price on February 14th 2023, BLUR is now worth 88 percent less than before.

BLUR Token’s Dramatic 88% Price Drop

Blur, a NFT marketplace, is really popular. In fact, it made up the most of all NFT sales over the past month. Recently, 71% of all the volume that was traded on Blur was from the past week.

@hildobby created the Dune Analytics dashboard, which shows us that during the past week, 42% of all trades were done on Blur, while 48.3% of trades was on Opensea, a NFT marketplace. Although more people traded on Opensea (89,000), there were still 39,000 traders who used Blur.

This month, Blur’s currency (called BLUR) went down in value compared to other cryptos like ETH and BTC. While those two went up 8.5% and 19.8%, the BLUR token dropped 28%. Right now, over 426 million BLUR tokens are around, worth a total of $248 million on April 2nd. That puts it at 161st place for market capitalization.

In the past 24 hours, $75.59 million of BLUR tokens have been traded around the world with Okx being the most popular exchange for it. 42,509 people currently own some BLUR tokens and 94.42% of the total produced is held in 10 wallets.

Data from shows that 100 people own almost all of the BLUR tokens – with the top address belonging to the person who actually made BLUR. This past February, 2023, BLUR was worth five dollars each! But now it’s only around 58 cents a token which means its value has dropped by 88%.

Do you have an idea of what might happen to the BLUR token and the NFT market in the future? Leave a comment under this post about your prediction.


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