The previous week’s notable increase in options and derivatives trading activity made the market look positive. When the price of bitcoin surpassed $38,000 and set a new record for 2023, buyer interest in major altcoins increased. As a result, a cryptocurrency that was already in an uptrend, such as BLUR, saw significant price increases.
This rise raises concerns about the ability of these cryptocurrencies to maintain their momentum over the next week. BLUR is the native token of the non-fungible token (nft) platform of the same name.
In the world of cryptocurrencies, BLUR is becoming more and more popular after Binance revealed its listing during a price surge.
BLUR appears on Binance
One of the world’s largest cryptocurrency exchanges, Binance, has issued a statement indicating that it is prepared to list and begin trading the Blur cryptocurrency token (BLUR).
Friday saw a 22% surge in BLUR following its inclusion in Binance’s conversion tool. The conversion feature is aimed at Binance’s retail clientele. Clients can buy and sell assets through it without using a conventional order book.
The Binance debacle has been the main cause of rises and falls over the past two days. The result has been disastrous, with the exchange having to pay the US government $4.3 billion to settle the lawsuit, including the departure of CEO Changpeng Zhao and his guilty plea over accusations of violating anti-money laundering rules. of money.
The recent conflict between the US government and Binance is clearly benefiting the price of BLUR, as the altcoin increased by more than 80% in just one week and is currently trading at $0.509, clearly taking advantage of the situation. In the process, BLUR also created the bullish cup and handle pattern, suggesting a potential upside.
The same people who created Blur also developed Blast, a layer 2 network, and Blur has done very well since its release.
BLURUSDT trading at $0.58 on the weekend chart: TradingView.com
Recover from historic lows
Blast went live earlier this week and has since raised more than $400 million in deposits. In May, the company will launch an airdrop.
Friday’s action coincides with the broader cryptocurrency market continuing to rise, with bitcoin (btc) reaching its highest position since May 2022.
In October, BLUR hit an all-time low, although it has since recovered. Renewed activity in the non-fungible token (nft) space and reports of large cryptocurrency players, or “whales,” purchasing the currency helped spark interest.
BLUR price action in the last week. Source: CoinMarketCap
The BLUR token the value has increased significantly since Binance decided to offer it, which has caused speculation in the cryptocurrency markets.
This growing trend is consistent with BLUR’s recent collaboration with layer 2 solution Blast, which assisted in Season 3 airdrop allocations in addition to increasing the price of the token.
Blur has made great strides in its position within the cryptocurrency industry with these calculated actions, positioning it as one of the leading nft lending protocols in the nft markets.
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Featured image from Freepik
