The NFT market Blur airdropped 360 million BLUR tokens this week. After the airdrop, BLUR worth fell 85% because the holders bought their tokens. The latest rebound within the BLUR worth amid large hype brought about a number of customers to remorse promoting their BLUR tokens. The native token of Blur has now entered the highest 100 crypto checklist.
yh.eth, an NFT researcher at crypto analysis agency Delphi Digital, in a tweet on February 19 stated promoting his BLUR airdrop was a mistake. He additionally revealed that the Blur Bidding mechanism shall be a recreation changer for the NFT area.
The NFT market is presently dominated by whales, which contribute majorly to the buying and selling quantity. Nevertheless, whales simply wish to purchase cheaper and promote shortly to make income. Additionally, the market lacks NFT buying and selling expertise and liquidity.
If somebody needs to promote 20 Doodles NFT at the moment, it will possible take days to weeks to promote all of the NFTs. One other drawback is the downward spiraling ground worth and the necessity to actively re-adjust the ground worth.
How Blur Is Totally different?
Paradigm-backed Blur NFT marketplace launched in October final yr and solved the liquidity drawback by introducing the Bid Factors system. The bid mining mannequin is basically a liquidity pool transaction the place customers present ETH, not WETH, liquidity to a liquidity pool. Much like Uniswap’s AMM innovation for the DeFi area to scale back liquidity points.
Blur’s bidding system incentivizes customers who need the airdrop and bear the danger of NFT costs as soon as the bid is accepted. Extra liquidity on Blur than OpenSea permits customers to commerce extra. Additionally, whales can purchase or promote giant quantities of NFTs frictionlessly.
Furthermore, the BLUR token launch permits worth distribution to the group. The bulk of the airdrop within the first season has already been claimed, with over billions in BLUR buying and selling quantity. A redistribution of BLUR from small to large buyers, whales, and crypto influencers reminiscent of BitMEX founder Arthur Hayes is going on. The BLUR circulating supply will improve to 1 billion by the year-end.
Additionally Learn: What’s Driving BLUR Token Prices
Binance Nonetheless Has To Record BLUR Token
The world’s largest crypto trade Binance nonetheless has to checklist the BLUR token. The itemizing is predicted to additional improve the buying and selling quantity and worth of BLUR. The second airdrop will occur sooner and recipients rely on the NFT buying and selling and bidding course of.
Main crypto exchanges reminiscent of Coinbase have already listed the BLUR token. The worth presently trades at $1.30, up 10% within the final 24 hours.
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