Blur Token Reaches $500M Trading Volume After Airdrop

Key Points:

• Blur tokens, an NFT marketplace, have already seen more than $500 million in trade volume.
• Users of the Blur marketplace received airdropped BLUR tokens, with the quantity of each airdrop based on the platform’s overall activity, network volume, and individual users’ transactions.
• The value of all the tokens on the Blur marketplace increased by $10 million during the course of the last day.

In less than 24 hours following its much-publicized airdrop, Blur tokens, an NFT marketplace, have already seen more than $500 million in trade volume.

Airdrops, which are typically employed as a user acquisition strategy, are the uninvited release of a cryptocurrency token or coin, usually for free, to various wallet addresses.

Users of the Blur marketplace received airdropped BLUR tokens, with the quantity of each airdrop based on the platform’s overall activity, network volume, and individual users’ transactions.

According to Twitter, this meant that some individuals acquired as many as 128,000 BLUR tokens. Etherscan, a blockchain tool, also reveals that consumers received anywhere from 25 and hundreds of thousands of BLUR.

As of Wednesday morning, there were more than 33,000 unique wallet owners of blur, according to blockchain statistics. The bulk of these wallet owners probably received the airdrop before transferring the tokens to other wallets.

Following the airdrop, some dealers sold the tokens in large quantities. On the cryptocurrency market Coinbase, the tokens were initially priced for $1, but by Tuesday night, they had dropped as low as 48 cents. But purchasing pressure on Wednesday during Asian hours caused the tokens to rise to 72 cents as of the writing of this article.

According to CoinCu data, blur has been traded on exchanges like OKX, Kucoin, and Uniswap for more over $530 million.

The value of all the tokens on the Blur marketplace increased by $10 million during the course of the last day.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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