BLUR increased by 11%.
The native token of the Blur NFT marketplace, BLUR, recently experienced a surge in market price following a specific announcement. According to data from CoinMarketCap, BLUR gained 11.75% in the last 24 hours, making it one of the top gainers in today’s market.
Looking at its price overview, BLUR has had a mixed price movement in the last seven days, resulting in an overall price gain of 12.43%.
However, the monthly chart tells a different story, with BLUR losing over 26% of its value in the last 30 days. During this period, BLUR fell to its lowest price this year, trading as low as $0.297.
Listing Announcement Causes BLUR Market Surge
This morning, BLUR experienced a sudden hike in its price, trading around $0.43 for the first time since the beginning of the month.
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Lookonchain, an on-chain analytics platform, has noted that BLUR’s price gain appears to be due to a recent listing by a crypto exchange.
According to Lookonchain’s report, BLUR’s market price surged by over 27% after popular Asian exchange Upbit announced plans to list the token on its KRW market today.
Despite the announcement causing BLUR’s price to peak at $0.43, it has since been on a downtrend, losing about 12% of its value in the last seven hours.
At the time of writing, BLUR is trading at a price of $0.38 based on data from CoinMarketCap. Its daily trading volume hovers around $277 million, having gone up by 11.83%.
Money Maker Conducts Puzzling Transactions Amidst BLUR’s Price Boost
On-chain analytics platform Lookonchain also spotted “unusual market behavior” from prominent DeFi market maker Wintermute amidst the recent price boost in the BLUR market.
Wintermute reportedly received 10 million BLUR tokens – valued at $4.2 million – from Coinbase custody wallet and deposited these tokens on the Kraken exchange several hours before the BLUR’s price hike occurred.
The on-chain analytics platform also noted the market maker deposited 2.1 million BLUR – valued then at $895,000 – on Coinbase; however, after the price surge had happened.
Wintermute’s intention following these transactions is unknown but appears to be drawing much attention, perhaps to the company’s recent troubles. Three days ago, creditors of the defunct lending platform Celsius raised allegations against Wintermute, stating the market maker collaborated with Celsius executives in a wash trading deal.
BLUR Trading At $0.380 | Source: BLURUSD Chart On Tradingview.com