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The Blur token’s second airdrop, coupled with its recent addition to the Binance exchange, has significantly piqued interest in the cryptocurrency market, especially among major investors. This enthusiasm is further heightened by Tieshun Roquerre’s Ethereum Layer 2 initiative, Blast, which witnessed an astonishing 20,000% increase in Total Value Locked (TVL). On-chain analytics show a considerable shift, with around 25 whale investors acquiring BLUR tokens post-airdrop, leading to an impressive 105% increase in the token’s value in just one week.
Whales Jumped To Grab Their Share of Blur
Almost 25 whales accumulated BLUR tokens and staked mostly purchased tokens as the Blur NFT marketplace introduced staking, reported Spot on Chain on November 24. Whales purchased 60.8 million BLUR tokens worth more than $32 million and staked 59.6 million BLUR tokens.
In the past 6 hours, two whales accumulated and staked 6.79 million BLUR tokens. Whale 0x13d withdrew 3.75 million BLUR ($2.01M) from OKX crypto exchange and whale 0x602 withdrew 3.04M ($1.56M) from Upbit.
The move came as Blast, the L2 network launched by Blur team surpassed $300 million in TVL in just 4 days.
Scopescan reported a total of $204 million BLUR, including $87 million from airdrops, are staked and only $88 million are unstaked. Currently, 339 million BLUR tokens are staked at an average price of $0.342, with average return of 78%.
Lookonchain revealed the top 20 BLUR holders account for 2.81 billion tokens worth $1.75 billion, which is nearly 94% of the total supply.
A total of 337.6 million BLUR staked accounts for 11.25% of the total supply and 30.64% of the circulating supply. Traders are keeping an eye on the trend as Blur witnessing nearly 100% upside after the Binance listing.
Also Read: Hong Kong SFC Wary of Binance’s License Amid Regulatory Pressures
BLUR Price Up 30%
BLUR price rallied 20% after the world’s largest exchange Binance listed BLUR, making the total rally in a day to 30%. The price currently trades at $0.62, with a 24-hour high of $0.638.
Furthermore, trading volume has increased just 6% in the past 24 hours, indicating massive buying by just whales. Thus, BLUR price can see volatility in the coming days. Moreover, top addresses holding BLUR may sell their tokens in response to Binance’s listing.
Also Read: Crypto Market Braces For $6.5 Bln Bitcoin And Ethereum Monthly Expiry, What’s Ahead?
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