Blur is one of the NFT Marketplaces with the largest airdrop ever. The number of tokens a user can receive is as low as 100 BLUR, about $500 at the ATH at the time of launch. Blur’s arrival prompted Marketplace NFTs, most famously OpenSea, to quickly release OpenSea Pro.
Whales control the game
According to data from Etherscan, the first 3 wallet addresses hold a total of 87.7777% of BLUR’s maximum total supply. This makes it easier for the whales to raise their prices every time something happens.
In addition, Wintermute – a cryptocurrency investment fund – is rumored to be the market maker for this project. According to data from Nansen, the project also set aside 15 million BLUR for Wintermute to create the market. Wintermute also used to be a market maker for big projects such as Aptos, Optimism, Polygon, Lido, dYdX…
Blur’s 1-month trading volume is still showing signs of sideways and is showing signs of long-term accumulation. Another important thing is that on June 14, 2023, the project will have an unlock token of about 198.45 M BLUR – 6.62% of the total supply. The upcoming number of tokens will cause this token circulating tokens to increase and this number will account for about 40.42% of Blur’s current MarketCap, the price pressure will become much greater.
Blur Price Analysis
Looking at the daily chart, we can see that the price of Blur has started to break the support zone of $0.43, which can be a bad sign in the short term. However, if we look at the weekly chart, we need to wait for the correct closing price to confirm the next trend of Blur.
A good sign for the token is that bullish divergence occurs in a downtrend when prices make lower lows, but RSI makes higher lows.
Blur was listed on Binance U.S. last month, but the current FUD has made it more difficult for Binance U.S., even with the news that the upcoming Binance U.S. will block the withdrawal of tokens, which will also affect the price of the tokens listed on the exchange.
Currently, this token is only listed in Binance’s Future mode (global) and there has not been any information regarding Binance’s official listing in spot pairs. But many people speculate that the Blur Is About to Unlock 198.45 M BLUR project is officially listed in Spot trading pairs and this will cause the price of this token to increase in a short time. However, Binance is currently experiencing FUD related to SEC, so the exchange is still focused on handling the crisis this time.
Disclaimers: Any analysis above is not a financial investment advice, Spot On Chain will not assume any responsibility related to your investment.
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