CandleFocus

Blur Token Unlock Sparks Volatility as BLUR Price Drops 10%

Author: Content Editor
The decentralized NFT marketplace, Blur, experienced significant market activity after unlocking 34.41 million BLUR tokens worth about $11.06 million, which were transferred to Coinbase Prime. This month's unlock brings the total BLUR supply entering Coinbase Prime to 31.6%. The continuous unlocking of tokens has impacted BLUR's market behavior, leading to a downward trend in price. The current price of BLUR is $0.3172, representing a 10.18% decline in the past 24 hours. However, trading volume has increased, indicating higher trading activity and selling pressure. Blur has struggled to maintain key support levels, with $0.32 being the current support level to watch. If the price falls below this level, a deeper decline to $0.31 may occur. To reverse the bearish sentiment, BLUR needs to reclaim and hold above $0.35. The short-term momentum for BLUR is bearish, with indicators showing downward momentum.

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