Despite being a dominant NFT marketplace, the native token of Blur, BLUR, saw a sharp decline in its value in the month of March by losing over 28% of its value. At present, BLUR tokens have waned away by 88% since their all-time high was recorded on February 14, 2023.

The cryptocurency marketplace Blur has managed to sustain its market share in terms of NFT sales. According to data from Dune Analytics, the Blur NFT platform saw a 71% market volume share over the last week and a 42% trade volume share. In comparison, the Opensea NFT platform had a 48.3% trade volume and saw a significantly higher number of traders than Blur - 89,000 as opposed to Blur's 39,000.

Contrary to prevailing trend, the value of the native token, BLUR, was seen much lower in March as compared to the famous cryptocurrencies such as Bitcoin or Ethereum. Bitcoin's value increased by 19.8% in the same timeframe whereas Ethereum saw a rise of 8.5%. Having a number of 426.84 million circulating BLUR tokens, the native cryptocurrency holds the 161st highest market capitalization valued at $248 million as of April 2, 2023.

According to data from coincrap.com, the top 100 addresses hold 98.10% of the total BLUR supply and the most prominent address is the BLUR contract deployer. Additionally, according to data collected over the past 24 hours shows that BLUR has seen a global trading volume of $75.59 million, with Okx being its most important exchange. BLUR had reached an all-time high of $5.02 per unit on February 14, 2023 before its abrupt decline.

Conclusion can be derived that Blur has managed to sustain its market share position in terms of NFT sales but its native token, BLUR, has been affected in its value significantly due to its relatively low market capitalisation, small circulating supply and a concentration of the token supply in the hands of top 100 wallets making the movement of price highly volatile.



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