NFT Marketplace Blur Launches Native Token, BLUR Price Drops 85% Within Hours – Markets & Prices Bitcoin News

The Blur non-fungible token (NFT) marketplace launched its initial token this week, and users who were allocated token allocations received “care packages”. Blur tokens began trading at noon on February 14, peaking at $5.02 per token. However, the coin has since fallen more than 85% against the US dollar.

BLUR Token Launch records 85% drop on first day of trading

On Tuesday, February 14, 2023, which is Valentine’s Day, NFT marketplace Blur announced the launch of its token and airdrop. Blur gave away “care packages” to users who traded on a competitive NFT market, listed NFTs on the Blur marketplace, and those who participated in Blur market bidding, according to allocation cycles.

“It’s time to BLUR,” the market tweeted the day before. “Care Packs can be opened on February 14th at 12:00 AM EST, 1:00 AM HKG, 6:00 PM CET. Make sure the launch announcement comes from our official Blur.io account tomorrow, and double-check all URLs before claiming.”

BLUR has started trading, with Kucoin being the most active exchange on Tuesday, and the most active trading pair is BLUR/USDT. As of 2:05 PM (ET), BLUR had a market capitalization of approximately $176 million, with a global trading volume of approximately $12 million. At 14:10, BLUR fell to $0.458 per coin, and statistics indicate that there are 360,000,000 BLUR tokens in circulation.

As of 2:10 PM (ET) Tuesday, there were 8,798 unique addresses holding BLUR tokens, with approximately 18,900 transfers having taken place. The Blur marketplace has emerged as a top NFT market in recent months, competing with Opensea, the largest NFT market.

However, Looksrare, another competing NFT market, also gained attention with an airdrop of the market’s token called LOOKS, but volumes have declined since then. At 14:33 pm on Tuesday, BLUR rebounded and reached the $0.602 per unit area.

What are your thoughts on the recent BLUR token launch? Share your views on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.