BLUR Drops 84% After 360M Token Giveaway
BLUR Drops 84% After 360M Token Giveaway
Early adopters of BLUR, including traders, help package owners and creators, received up to 86% of airdrops.
Cover/illustration via Cryptooshala
On the NFT marketplace Blur, its native BLUR token dropped to $0.78 from a high of $5, recording a sharp drop of more than 84%, shortly after its airdrop went live.
BLUR giveaway and tokenomics
Since the launch of the NFT trading platform approximately four months ago, it has registered approximately 146,823 unique users who have traded $1.2 billion worth of NFTs (excluding Washtrading).
February 14 Blur announced that it will transfer about 360 million BLUR tokens to its first users.
Blur said that of its $3 billion total, 51% was allocated to the community, 29% to core contributors, and 19% to investors.
Of the community allocation, around 360 million BLUR has been unlocked for distribution to early adopters.
Accessible data shows that early adopters including traders, help package owners and creators received up to 86% of airdrops.
However, the trading activity that followed the airdrop has caused BLUR’s price to drop more than 84% in the last 24 hours, according to Coingeco. data.
At press time, BLUR is trading at $0.78 with a total market capitalization of $276 million.
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Credit : cryptoslate.com
