Blur (BLUR) recently transferred a certain amount of tokens to the Coinbase exchange and then unlocked them. This unlocking was a planned reflection of the events that have been taking place over the past few months. In the first 16 days of November, the lock of 46.19 million tokens, worth approximately $15.49 million, was also released.
Furthermore, when looking at the bigger picture, it can be seen that since June, the lock of 436.5 million tokens, valued at approximately $123 million, has also been released. In particular, the unlocking in October contained 51.22 million tokens.
Current Status of Blur Coin
A general review reveals that more than 1 billion tokens, worth over $340 million as of today, remain undisclosed and locked. The analysis of the daily timeframe chart for BLUR token shows positive price trends following the unlocking of the last two locks.
After the unlocking events that took place not long ago, the token experienced an increase in value of more than 6%. Additionally, a similar movement was observed in October, with a price increase of over 4% following the unlocking.
Moreover, the increase following the unlocking in October did not remain limited to 4% and triggered a larger upward trend. This upward trend can be attributed to the broader uptrend in the cryptocurrency market.
Despite the recent decline in price, the Relative Strength Index (RSI) indicated a strong bullish trend for BLUR as of the time of writing. Considering this trend, rumors are circulating among investors that another positive price reaction may be triggered by the upcoming unlocking.
Blur Coin Analysis
An analysis of the NFT market data provided by Dune Analytics reveals the continuous dominance of Blur. Volume analysis conducted on a daily and weekly basis indicates a consistent flow of activity on the platform.
Furthermore, Blur surpassed its significant competitors, led by the established NFT organization OpenSea. In the daily volume analysis, Blur’s daily volume was over 12.8 million, clearly surpassing OpenSea’s 2.8 million.
The weekly volume analysis provided a clearer picture of the extent of dominance. According to the analysis, Blur’s weekly volume indicated an impressive figure of 152 million. The data obtained demonstrates Blur’s strong performance in the NFT sector and its presence in the market.
Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry risks due to their high volatility and should conduct their own research before making any transactions.
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