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Significant activity was detected for the leading NFT marketplace Blur (BLUR). Accordingly, millions of BLUR tokens were transferred to the cryptocurrency exchange Coinbase as part of the token unlock process within the month from a multi-signature wallet address starting with 0x0a0…
49.82 Million BLUR Tokens Transferred to Coinbase, Yet Price Increases
According to data provided by the on-chain data platform Spot On Chain, 49.82 million BLUR tokens were recently transferred to the cryptocurrency exchange Coinbase as part of the regular token unlock process from multi-signature wallet addresses starting with 0x0a0… The BLUR tokens transferred to Coinbase are approximately worth 23.3 million dollars.
As is known, since June 15, approximately 485.3 million BLUR tokens worth about 146 million dollars have been unlocked and released into the market. Interestingly, the price of the altcoin has shown a tendency to rise following past token unlock transactions. A similar trend is observed again, with the price increasing despite the substantial exchange transfer.
Current data shows that BLUR’s price is rising despite the Coinbase transfer. The data reveals that the price of the altcoin has increased by 11.16% to $0.4894 in the last 24 hours. The increase in price is accompanied by a rise in trading volume, which has increased by 31.87% to 194.3 million dollars in the same time frame.
All Eyes on Blur for February 14, 2024
According to data from TokenUnlock, starting from February 14, 2024, a new phase will begin in the linear token unlock process for BLUR tokens. With this transition, daily unlocks worth $1.04 million, totaling 2.16 million tokens, will be released into the market over 366 days.
The unlocked BLUR tokens will be distributed among four groups: the community treasury, advisors, investors, and those who have contributed to the network’s development in the past and future.
