Blur, a popular token in the crypto market, recently unlocked 35.54 million BLUR tokens, worth approximately $12.9 million, from the lockup contract just two hours ago. These tokens were promptly moved to Coinbase for distribution. This event is part of a broader trend, with a total of 690.8 million BLUR tokens, now valued at $256 million, or 23% of the total supply, being unlocked since June 15, 2023. Since the beginning of 2024, BLUR has exhibited a pattern of short-term bullish pumps following token unlocks, only to experience a subsequent decline. Despite occasional positive price movements immediately after these unlocks,
The post Blur Token Experiences Significant Unlock and Decline appeared first on The Merkle News.
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With the Blur marketplace set for a second airdrop soon, Nansen’s Andrew Thurman theorized that this major NFT dump could be a play to reap extra BLUR token rewards while also booking some profits.
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BLUR price is also forming a Doji candlestick pattern on its four-hour chart, hinting at a bullish reversal ahead.
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