Blur’s non-fungible token (NFT) marketplace launched its native token this week, and users who received token allocations received “care packages.” Blur tokens began trading at noon on February 14, peaking at $5.02 per token. However, since then the currency has fallen more than 85% against the US dollar.
BLUR Token Launch Records 85% Drop on First Day of Trading
On Tuesday, February 14, 2023, which is Valentine’s Day, the NFT Blur marketplace announced the launch of its token and airdrop. Blur gifted “care packages” to users who transacted on a competing NFT marketplace, listed NFTs on Blur’s marketplace, and those who participated in Blur’s marketplace deals, according to the award cycles.
“It’s time for BLUR”, the market tweeted the day before “Care packages can be opened on February 14 at 12 pm EST, 1 am HKG, 6 pm CET. Please make sure the release announcement is coming from our official Blur.io account tomorrow and double check all URLs before claiming.”
BLUR has started trading, with Kucoin being the most active exchange on Tuesday, and the most active trading pair being BLUR/USDT. As of 2:05 pm ET, BLUR had a market capitalization of approximately $176 million, with global trade volume of around $12 million. At 2:10 pm, BLUR fell to $0.458 per coin, and statistics indicate that there are 360,000,000 BLUR tokens in circulation.
As of 2:10 pm (ET) on Tuesday, there were 8,798 unique addresses holding BLUR tokens, with approximately 18,900 transfers made. The Blur marketplace has emerged as one of the top NFT marketplaces in recent months, competing with Opensea, the largest NFT marketplace.
However, Looksrare, another competing NFT marketplace, also garnered attention with an airdrop of its marketplace token called LOOKS, but volumes have since declined. At 2:33 pm on Tuesday, BLUR rallied and reached the range of $0.602 per unit.
What do you think about the recent launch of the BLUR token? Share your views on this topic in the comments section below.
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