NFT Marketplace Blur Launches Native Token, BLUR Price Drops 85% in a Matter of Hours

The Blur non-fungible token (NFT) marketplace launched its autochthonal token this week, and users who were awarded token allotments received “care packages.” Blur tokens began trading astatine noon connected Feb. 14, reaching a precocious of $5.02 per token. However, the coin has since dropped much than 85% against the U.S. dollar.

BLUR Token Launch Records an 85% Drop connected Its First Day of Trading

On Tuesday, Feb. 14, 2023, which is Valentine’s Day, the NFT marketplace Blur announced the motorboat of its token and airdrop. Blur gave distant “care packages” to users who conducted trades connected a competing NFT market, listed NFTs connected the Blur marketplace, and those who participated successful Blur marketplace bidding, according to the allotment cycles.

“It’s clip for BLUR,” the marketplace tweeted the time prior. “Care Packages tin beryllium opened connected Feb 14 astatine 12PM EST, 1AM HKG, 6PM CET. Make definite the motorboat announcement comes from our authoritative Blur.io relationship time and treble cheque each URLs earlier claiming.”

BLUR/USD astatine 2:33 p.m. (ET).

BLUR has started trading, with Kucoin being the astir progressive speech connected Tuesday, and the astir progressive trading brace being BLUR/USDT. As of 2:05 p.m. (ET), BLUR had a marketplace capitalization of astir $176 million, with a planetary commercialized measurement of astir $12 million. At 2:10 p.m., BLUR dropped to $0.458 per coin, and statistic bespeak that determination are 360,000,000 BLUR tokens successful circulation.

As of 2:10 p.m. (ET) connected Tuesday, determination were 8,798 unsocial addresses holding BLUR tokens, with astir 18,900 transfers having taken place. The Blur marketplace has emerged arsenic a apical NFT marketplace successful caller months, competing with Opensea, the largest NFT market.

However, Looksrare, different competing NFT market, besides garnered attraction with an airdrop of its market’s token called LOOKS, but volumes person subsided since then. By 2:33 p.m. connected Tuesday, BLUR rebounded and deed the $0.602 per portion range.

What are your thoughts connected the caller BLUR token launch? Share your views connected this taxable successful the comments conception below.

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