24 February, 2024

BLUR Token Movement: 49.46 Million Tokens Shift to Coinbase Prime, Market Reacts

1 month ago

16 Jan, 2024

  • The recent transfer of 49.46M BLUR to Coinbase Prime marks a significant monthly unlocking trend observed since June 2023.
  • Analysis shows that BLUR’s market price has risen post-release in five instances out of seven previous unlocks.
  • With 534.74M BLUR, equating to $355.39M, unlocked to date, BLUR’s market dynamics display a noteworthy pattern.

Blur has recently executed another substantial transfer in its series of monthly token unlocks, moving a considerable amount of BLUR tokens to a prime cryptocurrency exchange. Specifically, 49.46 million BLUR, valued at approximately 32.55 million dollars, was transferred from its unlocking contract to Coinbase Prime. This transaction utilized the secure 0x0A0 multi-signature address, ensuring high security and trust.

Colin Wu, a Chinese crypto reporter, shared insights on this significant transaction, emphasizing its impact and implications within the broader cryptocurrency market.

Since June 15, 2023, Blur has been adhering to a consistent schedule of token unlocks occurring monthly. This recent transaction marks the eighth in this series, bringing the total amount of unlocked BLUR to an impressive 534.74 million, which equates to around 355.39 million dollars. These unlocks have been closely monitored by investors and market analysts, as they play a significant role in the cryptocurrency’s market dynamics.

An interesting pattern has emerged from this series of unlocks. According to Lookonchain, a prominent on-chain data analysis platform, in five out of the seven previous unlocks, the price of BLUR experienced an increase following the release of the tokens. This trend is a vital piece of information for investors and market spectators, as it provides insights into the potential market behavior of BLUR following these significant unlock events.

The consistent approach of Blur in releasing its tokens has been a subject of keen interest in the cryptocurrency community. Blur has created a sense of reliability and expectation among its stakeholders by maintaining a transparent and predictable unlock schedule. This strategy has a noticeable impact on the market’s response to each unlock event, as evidenced by the price movements post-release.

The ongoing developments in unlocking and transferring BLUR tokens continue to attract attention from various corners of the cryptocurrency world. Market analysts and investors alike are keenly observing these movements, seeking to understand the broader implications they may have on the cryptocurrency market as a whole. As Blur progresses with its planned unlocks, the community remains watchful of how these events will shape the future trajectory of BLUR in the complex and ever-evolving landscape of digital currencies.

Blur, the native governance token of the innovative NFT platform Blur, has witnessed a bullish market trend. Over the past week, Blur has been trading within a narrow range of $0.43 to $0.67, showing remarkable stability. Impressively, the Blur token’s value surged over 42%, indicating a strong bullish sentiment among investors and market watchers.

Blur’s price has impressively surged to $0.6718, marking a 15% increase in just 24 hours. This spike reflects strong bullish momentum in the market. Its 24-hour trading volume has also dramatically risen by 126% to $263 million. Blur now ranks 85th on CoinMarketCap, boasting a significant live market cap of $745,949,282.