BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market
TL;DR The native token to the NFT marketplace Blur, BLUR, dropped more than 28% in value over the past 30 days despite the marketplace’s dominance in the market. Currently, BLUR’s market cap is around $248 million, with 100 holders controlling 98.1% of the total supply. The token reached an all-time high of $5.02 on February 14, 2023, and has since dropped 88%.
While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023.
Blur’s Native Token Slides 28% Against the Greenback in 30 Days
The NFT marketplace Blur has captured a majority of the NFT sales over the past month, according to metrics from dappradar.com. Additionally, according to data from Dune Analytics, Blur’s market share in terms of volume over the past week was 71%.
The Dune Analytics dashboard, created by @hildobby, shows that over the past week, Blur accounted for 42% of trades, while the NFT marketplace Opensea accounted for 48.3%. In terms of trader count this past week, Opensea outpaced Blur, with over 89,000 traders compared to Blur’s 39,000.
While the marketplace has been competitive, Blur’s native token, BLUR, suffered this past month compared to most crypto assets. For instance, while ETH rose 8.5% higher and BTC rose by 19.8% in March, BLUR dropped 28% against the U.S. dollar.
Currently, BLUR holds the 161st largest market capitalization, with a circulating supply of 426.84 million BLUR tokens. As of Sunday, April 2, 2023, BLUR’s market valuation is $248 million.
Over the last 24 hours, BLUR has seen $75.59 million in global trading volume, with Okx being the most active BLUR exchange today. Statistics further indicate that 42,509 unique addresses hold BLUR tokens, and roughly 94.42% of all BLUR created is held in 10 wallets.
Rich list data from coincarp.com shows that 100 BLUR holders control 98.10% of the total supply, with the top address being the BLUR contract deployer. Meanwhile, BLUR reached an all-time high against the U.S. dollar on February 14, 2023, at $5.02 per unit. At current prices of $0.579 per BLUR, the token has dropped more than 88% since then.
What do you think the future holds for the BLUR token and the NFT market as a whole, given the current trends and statistics? Share your thoughts about this subject in the comments section below.
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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