Blur Token Price Increases 75% After Listing on Binance
The price of BLUR, the native cryptocurrency of the Blur NFT marketplace, has increased by 75% in the previous seven days, owing largely to the token’s placement on Binance and a number of other favorable occurrences.
By using BLUR as its governance token, Blur distinguishes itself in the non-fungible token (NFT) market. Unlike rivals like OpenSea, which runs without a token and depends on private investors, this novel solution seeks to decentralize the Blur NFT marketplace and hand control to the community.
Since its introduction, the platform has experienced some success, which may be attributed to its user-friendly design, affordable fees, and improved NFT liquidity.
Notably, Blur fosters a mutually beneficial relationship with its trader community by rewarding its users through airdrops with BLUR tokens.
A mysterious NFT trader just claimed an astounding $13.6 million worth of BLUR tokens in an airdrop. This prize, which is a portion of a 300 million token pool, demonstrates Blur’s dedication to rewarding its community of active users and has helped the project succeed thus far.
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Listing on Binance Promotes BLUR
The recent listing of Blur on Binance has been beneficial to the NFT platform and has caused its price to rise. More and more investors are betting on the token’s potential, as its market cap has risen past $600 million.
The project’s environment was even more positively affected by Blur creator Tieshun Roquerre’s $40 million fundraising success. Launching their layer-2 network “Blast” and supposedly listing on Binance for free demonstrate Blur’s dedication to cutting costs and innovation.
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Putting the NFT Market Status Quo to the Test
Big names in NFT development, such as Bored Ape Yacht Club and Yuga Labs, are rethinking their ties to industry heavyweights Blur and OpenSea. Both platforms have recently reduced royalties in an effort to reinvigorate the NFT industry, which has led to this reevaluation.
A $60 million rug pulled was the result of allegations that an ex-executive engaged in pump and dump activities, which has kept OpenSea under examination. This episode further complicates the dynamics of the NFT market, even though OpenSea denies knowledge of such activity.
According to CoinGecko, the price of BLUR has increased by 74% this week, and it is currently trading at $0.60441.
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