NFT Marketplace Blur Launches Native Token, BLUR Price Drops 85% in a Matter of Hours
The Blur Non-Fungible Token Market (NFT) launched its own token this week, and users who received the tokens received “help packages.” Blur tokens began trading at noon on February 14, peaking at $5.02 per token. However, the coin has since dropped over 85% against the US dollar.
BLUR Token Launch Captures 85% Drop on First Day of Trading
On Tuesday, February 14, 2023, Valentine’s Day, the NFT marketplace Blur announced the launch of its token and giveaway. According to distribution cycles.
“It’s time to DILUTION”, market tweeted the day before. “Care Packages can be opened on February 14 at 12:00 pm EST, 1:00 am Hong Kong, and 6:00 pm CET. Make sure the launch announcement comes tomorrow from our official Blur.io account and double check all URLs before applying.”
BLURING began 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’s market capitalization was approximately $176 million and its global trading volume was approximately $12 million. At 14:10, BLUR fell to $0.458 per coin, and statistics show 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 and approximately 18,900 transfers had been made. Marketplace Blur has become the leading NFT marketplace in recent months, competing with Opensea, the largest NFT marketplace.
However, Looksrare, another competing NFT marketplace, has also attracted attention by giving away its marketplace token called LOOKS, but volumes have since declined. By 2:33 p.m. Tuesday, BLUR had rebounded and hit a range of $0.602 per unit.
What do you think about the recent launch of the BLUR token? Share your opinion on this matter in the comments section below.
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