Biggest BLUR Airdrop Whale Starts Selling, Potential Dump Ahead?
The wallet that held the largest amount of BLUR airdrops has made a significant move by selling off its substantial holdings. The wallet address, identified as “0xD5eE,” has been the center of attention in the crypto community due to its massive accumulation of BLUR tokens. However, the recent decision to sell off these holdings has sparked dump speculations and raised questions about the potential impact on the $BLUR market.
Whale Sells Off BLUR Tokens
The wallet’s sold off approximately 3.2 million $BLUR tokens, equivalent to a value of $1.15 million, as reported by on-chain analysis platform Lookonchain. They highlighted the fact that iw was sold off despite this:
The highest value of all sold off BLUR tokens i.e. 3.2M $BLUR is $4.3M.
With the wallet previously holding the largest amount of $BLUR airdrops, its decision to sell off a significant portion of its holdings has left many wondering about the motives behind the move. Is this an indication of a potential market dump, or are there other factors at play?
Also Read: Liquidity Crunch Hits Crypto, Bitcoin and Ethereum Face Buy-Side Decline
Is Dump In Near Sight?
BLUR experienced a surge last week after the announcement by Upbit, the leading exchange in South Korea, about the introduction of a new trading pair involving $BLUR and the Korean fiat currency, KRW. At the same time, CoinGape reported that Wintermute trading moved BLUR tokens and it was speculated a dump ahead back then.
However, since reaching its all-time high of $45.98 on February 13, 2023, the value of $BLUR has experienced a significant decline of 99.22%, now priced at $0.3554. The current price change of -$0.009268 (2.54% decrease) and the 24-hour trading volume of $62,067,114 (48.02% decrease) indicate a period of consolidation and uncertainty.
Furthermore, the total value locked of BLUR tokens is $150.58 million, as seen on Defilama at the press time. As the crypto community watches the developments closely, market participants will be keen to see how the $BLUR market responds in the coming days and weeks. Will the sell-off be a temporary setback, or will it signal a deeper correction for $BLUR?
Also Read: Whales Buying Trillions In PEPE from Binance, Is Another Massive Rally Ahead?
- XRP to $9? Analysts Tip ‘XRP Is a Buy’ as Price Targets 200% Surge
- CZ Endorses Hyperliquid Rival Aster DEX, Token Rallies 1,500%
- Tom Lee’s BitMine Adds $84M in ETH as Expert Predicts Ethereum Rally to $5K
- Grayscale’s Crypto Index Fund Sees ‘Solid Start’ as SOL, XRP Institutional Demand Climbs
- Senate Democrats Urge Republicans for ‘True Collaboration’ to Quickly Pass CLARITY Act
- PUMP Price Forecast: Whale Buys 1B Tokens as Bullish Pennant Signals 65% Breakout
- Bitcoin Price Prediction: Analyst Highlights Breakout Patterns as Coinbase CEO Backs Crypto Structure Bill
- Dogecoin Price Prediction: Grayscale ETF Move Aligns With Cycle Breakout
- Chainlink Price Prediction: Whales Scoop 2M LINK as Analysts Eye 184% Breakout Rally
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
