The NFT market has seen a surge in activity, with the four-month Blur market surpassing former market leader OpenSea in trading volume. Despite its success, some have raised questions about the legitimacy of Blur’s trading volume, with CryptoSlam alleging suspicious activity and market manipulation.
Blur NFT MarketBoom: NFT Marketplace outshines OpenSea amid fee frenzy
Recent data reveals that the Blur NFT market has achieved an impressive sales volume of $1.88 billion in the last 30 days, compared to $474.58 million for OpenSea. Some attribute Blur’s rise to prominence to its slick interface, robust analytics tools, fast trade execution capabilities, and zero platform fees. However, competition between NFT markets has raised questions regarding fees and royalties, negatively affecting the NFT ecosystem.
Blurry Trade Volume Under Fire: CryptoSlam Exposes Suspicion Of Market Manipulation
Crypto Slam has called out Blur’s impressive trading volume in doubt. They claim that only 1% of high-value traders are responsible for the majority of trading activity on the platform. CryptoSlam identified more than $577 million in NFTs traded for laundering between February 14-25. As such, it removed these transactions from its data and accused Blur of misrepresenting the NFT market. CryptoSlam data engineer Scott Hawkins stated:
“What we’re finding is that this is artificially propping up sales volume in a very insincere way for the entire NFT market.”
Despite the high trading volume of the Blur NFT market, OpenSea still has more users, with 294,146 users in the last 30 days compared to 113,886 for Blur. Critics argue that a small percentage of wallets on Blur are responsible for the majority of transactions, casting doubt on the overall success of the market.
Blur volume: fact or fiction? Dissection of NFT trading trends
TO recent video by Youtuber PROOF analyzes if the Blur volume is real. The video covers various topics, including trading volume on the OpenSea and Blur platforms. He also delves into long-term headline behavior on Blur. The presenter analyzes data and charts to determine what is driving the trading volume in the Blur NFT market.
The video does not suggest that the Blur NFT market volumes are fake. Instead, the presenter discusses whether flippers or actual buyers are driving the trading volume on Blur. He also investigates the impact of the incentives provided by Blur’s airdrop program on business behavior.
The Blur Battle: Navigating NFT Growth Amid Manipulation Concerns
As the NFT market continues to evolve, Blur’s future success depends on its ability to address concerns related to potential market manipulation and maintain its competitive edge. Skeptics and supporters alike have been scrutinizing the trading volume and user behavior. Whether Blur can sustain its growth and emerge as a reliable marketplace for NFT enthusiasts remains to be seen.
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This article is educational material.
As always, do your own research before making any type of investment.
