BLUR Token Unlock: Potential Impact on the Protocol Revealedadmin, · Kategorien: Allgemein
• The token unlock of BLUR has both positive and negative implications for the token.
• It brings increased liquidity to the market but may cause price volatility and selling pressure.
• At press time, BLUR was trading at $0.3362 with reduced volume.
Overview of Token Unlock Impact on BLUR
The marketplace continues to see growth and outcompeted OpenSea on various fronts, but things may take a turn for the worse for the BLUR token going forward due to its 47.96 million tokens unlocked this month.
Bringing increased liquidity to the market as 47.96 million BLUR tokens become available on Coinbase Prime creating more trading opportunities for investors. Additionally, being listed on a major exchange like Coinbase Prime expands BLUR’s reach to a larger market, potentially attracting new investors and increasing the token’s visibility.
The sudden influx of tokens may lead to increased price volatility with sharp fluctuations in BLUR’s value possibly occurring as 140 million tokens moved from Coinbase Prime to different centralized cryptocurrency exchanges (CEXs). This could potentially impact the token’s price negatively and create uncertainty among investors about its future value leading them to hesitate in buying or holding it.
BLUR’s Current Status
At press time, BLUR was trading at $0.3362 after declining materially over the last few days along with reduced volume of being traded in comparison with past months despite its remarkable progress in NFT marketplace sector garnering immense admiration from holders and investors during this period.
Althoughtoken unlock brings both positive and negative impacts to BLUR, it remains resilient despite declining prices over recent weeks since unlocking 47 million tokens this month with 140 million moved from Coinbase Prime to other exchanges and reduced volume traded since then