The Blur NFT Marketplace has witnessed a significant accumulation of its native token, BLUR, in a recent Airdrop event.
According to Lookonchain data, the top recipient of the Airdrop, Hanwe.eth, has transferred $6.2 million in BLUR to Bybit and Coinbase. This transaction follows Hanwe.eth’s complete deposit of 22.85 million BLUR from the Airdrop. The sale of these tokens is expected to generate approximately $12.3 million.
Blur’s Airdrop Strategy
Blur uses its end-of-season airdrops as a strategic method to attract traders to its platform.
At the conclusion of each season, Blur compensates individuals who have engaged in NFT trading on their platform.
276 Million BLUR Tokens Claimed
Approximately 38,000 addresses have already collected their BLUR tokens, totaling 267 million claimed tokens.
The distribution of tokens has varied, with some receiving millions while others have received only a handful of tokens. This suggests an increasing accumulation of BLUR among investors.
SigilFund’s Portfolio Reallocation
In another update, the user SigilFund has reallocated its portfolio, selling BLUR in favor of acquiring LDO and IMX tokens.
The fund executed a significant deposit of 1.55 million BLUR ($968K) and subsequently withdrew 807,799 IMX ($1.14 million) and 210,905 LDO ($540K).
Blur’s Growth and Competition
Blur has experienced significant growth in recent months, exceeding OpenSea in daily Ether trading volume earlier this year.
This growth has prompted OpenSea to introduce a 0% price structure in an effort to regain its user base.
BLUR Token Price Surge
The BLUR token has seen a significant price increase in the lead-up to its listing on Binance, the world’s largest cryptocurrency exchange.
The token is currently trading at $0.621322, with a 24-hour trading volume of $47 million. This reflects a price increase of 18.48% in the previous 24 hours and a price increase of 97.26% in the last 7 days.
Blur has a market valuation of $68 million and a circulation supply of 1.1 billion BLUR.
Frequently Asked Questions (FAQs)
What is an Airdrop?
An Airdrop is a distribution of cryptocurrency tokens to a large number of wallets. Airdrops are often used as a marketing tool to promote new crypto projects or to reward existing users.
What is NFT?
NFT stands for non-fungible token. NFTs are unique digital assets that cannot be replicated or exchanged for an equivalent asset. NFTs are often used to represent ownership of digital items such as art, music, and collectibles.
What is the Blur NFT Marketplace?
Blur is a decentralized NFT marketplace that allows users to buy, sell, and trade NFTs. Blur offers a number of features that make it unique from other NFT marketplaces, including support for multiple blockchains, low transaction fees, and a user-friendly interface.
What is the BLUR token?
The BLUR token is the native token of the Blur NFT Marketplace. BLUR is used to pay for transaction fees, reward users for participating in the marketplace, and govern the Blur protocol.
Credit and rights belong to BITboosters.