The latest development of the non-fungible token (nft) marketplace, Blur, has caught the attention of the crypto community. A recent airdrop“Blur Season 2”, has sparked a significant movement of BLUR tokens towards various crypto exchanges.
BLUR Token Move to Exchanges Means a Change in the Market
According to Lookonchain, a renowned on-chain analytics platform, approximately 307.6 million BLUR tokens, valued at approximately $97.5 million, were claimed in this airdrop.
An airdrop in the context of cryptocurrency is a method of distributing free tokens or coins as rewards to active participants on a particular blockchain or platform, in this case, the Blur nft marketplace.
This recent claim for BLUR tokens has sparked notable activity on crypto exchanges, reflecting the growing interest and movement within the digital asset market, especially with incentives such as “airdrop.”
Data provided by Lookonchain reveals intriguing patterns of BLUR token distribution and exchange deposits. Among the several notable transactions, a user identified as 深大高财生.eth allegedly deposited a hefty sum of 4.67 million BLUR, valued at $1.5 million, on the OKX crypto exchange.
Please note that *深大高财生.eth deposited the 4.67 million $blur ($1.5 million) received from airdrop in #OKX At the moment.https://t.co/Q3KwyFBZVn pic.twitter.com/uxOtDYtKdH
— Lookonchain (@lookonchain) November 21, 2023
This is just a snapshot of the broader trend in which significant amounts of BLUR tokens are being transferred to exchanges, indicating a potential shift in market dynamics surrounding this digital asset.
The impact of Blur and future prospects
Blur’s influence in the nft market 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 market statistics: a trading volume that reached $6.1 billion, a user base consisting of 260,165 unique users, and an average market share of 65%. These figures underline Blur’s success and highlight the activity and high risks involved in the nft market.
Looking ahead, Blur is not resting on its laurels. The additional announcement of the “Season 3” airdrop is already generating buzz in the crypto community.
With the end of the season, we begin season 3, with new rewards for both nft traders and $blur Headlines. 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, energized by The Blast network, a Layer 2 network with native performance support from prominent sponsors such as Paradigm and Standard crypto, promises to distribute rewards equally between nft traders and BLUR holders.
This strategic move could potentially improve the liquidity and accessibility of BLUR tokens, fostering a more inclusive and positive environment for traders and investors.
Amidst the intense trading activity following the airdrop, the BLUR token has seen a significant surge, rising almost 10% in the last 24 hours.
At the time of writing, BLUR is trading at $0.37. This bullish trend extends beyond price appreciation, as the token’s daily trading volume has seen a notable increase. It currently stands at approximately $240 million, a substantial increase from the $76 million seen at the beginning of last week.
Featured image from iStock, chart from TradingView
