Blur Token Unlock and Its Effect on the Crypto Marketplace
Unraveling the Anticipated Ripple Effect of the Largest BLUR Token Unlock in the Crypto Ecosystem
The much-anticipated day is near. Blur, a leading NFT marketplace, has earmarked June 14 as a landmark date in its journey. To be specific, the company is preparing to unlock a colossal number of 196 million BLUR tokens, marking a significant 40% surge in the circulating supply. This enormous figure represents around 6.5% of the total supply.
Delving into the Allocation Details
Accompanied by a plethora of allocations, this unlock event encapsulates a broad array of beneficiaries. Leading the pack are the core contributors of Blur—both past and future—who are due to receive over 115.6 million BLUR tokens. On the other hand, investors are set to obtain 75.4 million tokens, while 4.9 million tokens are earmarked for advisors, as reported by Token Unlocks.
Blur’s Financial Journey: Recent Funding Rounds
Reflecting on Blur’s past financial strides, The Block noted in February that Blur successfully closed a funding round, amassing between $15 to $30 million, catapulting its valuation to a robust $1 billion mark. This fundraising feat followed Blur’s March 2022 funding round, where renowned participants like Paradigm, eGirl Capital, 0xMaki, and LedgerStatus contributed to its $11 million seed fund.
Speculations Amid Whale Activity
Furthermore, the Blur token unlock has not escaped the vigilant eyes of the crypto community, sparking diverse speculations about its potential market impact. In the wake of this whale activity, BLUR experienced a slight dip of 1.4% over the past 24 hours.
Diving deeper into the whale positioning, a prominent player, “0x06cD”, has actively engaged in the BLUR market, as per data from Lookonchain. Since April 4, they have withdrawn an impressive 10.5 million BLUR tokens, equivalent to $3.36 million, from OKX. As of now, their portfolio boasts 13.5 million BLUR tokens, elevating them to the 8th position among the largest holders.
Noteworthy Recent Transactions
In addition, several noteworthy transactions have attracted attention. For instance, Oilysirs.eth recently purchased 100,000 BLUR tokens, shelling out 20 ETH, or $35,000. Remarkably, this individual had previously reaped a hefty profit of 455 ETH, approximately $792,000, from previous BLUR trades.
In a separate move, address “0xfcef” detached 1.9 million BLUR tokens from liquidity, selling them at $0.31 each. The current price of BLUR tokens stands at $0.32. Interestingly, this address had obtained BLUR tokens from “0x8129,” a player renowned for buying at low prices and selling high.
Blur Token Unlock: Wrapping Up
The anticipated unlock of BLUR tokens serves as a testament to the dynamism and vigor of the crypto marketplace. As we watch these developments unfold, it remains to be seen how this colossal unlock will reverberate through the wider cryptocurrency market. As always, keep an eye on this space for the latest updates in the ever-evolving world of cryptocurrencies.