that much Blur Token Blur’s recent second airdrop and the Ethereum L2 Blast launched by Blur founder Tieshun Roquerre have garnered significant attention from the cryptocurrency community, especially whales. As a result, Total Value Locked (TVL) increased by a whopping 20,000%. Recent on-chain data shows a notable surge in BLUR token purchases by approximately 25 whales, pushing the BLUR price down. It will be 90% within a week.
During the launch of the Blur NFT Marketplace’s staking feature, these whales actively participated in accumulating and staking BLUR tokens. According to Spot on Chain’s report published on November 24, these whales purchased a total of 60.8 million BLUR tokens, worth over $32 million, with a significant portion being staked, for a total of 59.6 million BLUR tokens. .
In just 6 hours, two whales added 6.79 million BLUR tokens to their stake. Whale address 0x13d withdrew BLUR 3.75 million ($2.01M) from the OKX exchange, and whale 0x602 withdrew BLUR 3.04 million ($156M) from Upbit.
This surge in whale activity coincided with the enormous success of Blast, the L2 network launched by the Blur team. Blast quickly surpassed $300 million in total value locked (TVL) in just four days after launch.
Also read: Why are BLUR tokens popular? What makes this new token special?
According to on-chain data, a significant portion of BLUR tokens worth $204 million are currently staked, with only $88 million unstaken. Approximately $87 million of staked tokens came from airdrops. There are currently 339 million BLUR tokens staked, with an average price of $0.342 and an average return of 78%.
According to Lookonchain data, the top 20 BLUR token holders hold 2.81 billion tokens worth $1.75 billion, accounting for nearly 94% of the total supply. A total of 337.6 million BLUR tokens are staked, representing 11.25% of total supply and 30.64% of circulating supply.
This change in ownership dynamics coincides with Blur recently experiencing gains of nearly 100% following its listing on Binance.
Since listing on Binance, the BLUR token has surged 20%, bringing its daily performance up 30% overall. Currently trading at $0.62, the token has reached a 24-hour high of $0.638. Trading volume has increased by around 6% in the last 24 hours, suggesting significant buying activity, mainly by whales, but market analysts expect price volatility to occur in the near term.
Additionally, concerns persist that major BLUR token holders may consider offloading their holdings in response to the recent Binance listing.