Blur, a decentralized non-fungible token (NFT) marketplace, and OpenSea competitor is under pressure, tumbling by over 30% from its November peaks. While BLUR retreats, on-chain data reveals that BLUR whales have been moving their tokens to leading crypto exchanges, possibly to liquidate.
Whales On A Possible Selling Spree
According to Lookonchain data on December 7, several whales have been offloading large amounts of BLUR. To illustrate, 16.85 million BLUR, worth roughly $8.43 million, were deposited to exchanges in the past 24 hours.
Notably, one whale deposited 2.54 million BLUR, worth $1.26 million, received from the airdrop to Binance. At the same time, Mandala Capital transferred 2.76 million BLUR, worth $1.4 million, to OKX.
The deluge continued as another whale, only marked by the associated “0x68b5” address, withdrew 3.31 million BLUR worth $1.79 million from Binance between November 25 and 29 before moving them to the same exchange on December 1. The token had fallen, meaning the whale was down by roughly $65,000.
It is unclear whether the same addresses are sold for USDT or other tokens. However, what’s known is that any whale transfers to a centralized exchange is associated with liquidation. Accordingly, sentiment is impacted when whales move coins in large batches to exchanges, and retailers could interpret their transfers as incoming selling pressure.
BLUR Is Up 220% From October Lows
Thus far, looking at price action, buyers have the lead from a top-down preview. The coin is already up 220% from October lows. Most importantly, buyers have the upper hand, looking at the candlestick arrangement in the daily chart.
Even though the token is down 30% from November peaks, the failure of bears to force the coin below the 20-day moving average (MA) in the daily chart suggests that the uptrend is still valid. Losses below $0.46, or the base of the current bull flag, might trigger a sell-off. Conversely, any upswing above $0.58 and even $0.69–or November highs, could drive more demand, lifting BLUR to $0.84 or higher in the coming sessions.
Related Reading: Binance CEO Disputes JPMorgan Chief’s Critique Of Crypto
Whether the uptrend will resume also remains to be seen. What’s clear, though, is that the broader community is closely monitoring the NFT scene and Blur, the marketplace. The recent upswing was due to the activation of Season 2 Airdrop, which ended on November 20.
Ahead of this, the token was already up 150%, only to extend gains briefly before cooling off in the first week of December.
Feature image from Canva, chart from TradingView
where to buy cheap clomid where to get clomid how to get cheap clomiphene price where buy clomiphene without dr prescription how can i get cheap clomiphene buying generic clomiphene without prescription can i order clomiphene without rx
I am actually happy to coup d’oeil at this blog posts which consists of tons of of use facts, thanks for providing such data.
I couldn’t weather commenting. Warmly written!
buy zithromax sale – buy azithromycin 250mg pills order flagyl 400mg online
semaglutide 14mg without prescription – oral rybelsus 14mg order cyproheptadine 4mg for sale
motilium 10mg cost – flexeril online buy cyclobenzaprine pills for sale
cost augmentin – https://atbioinfo.com/ how to buy ampicillin
purchase esomeprazole sale – https://anexamate.com/ cost nexium 40mg
purchase medex online cheap – https://coumamide.com/ brand hyzaar
meloxicam order – https://moboxsin.com/ meloxicam 15mg sale
prednisone drug – https://apreplson.com/ prednisone order online
sexual dysfunction – https://fastedtotake.com/ online ed pills
purchase amoxil for sale – amoxil price buy amoxil online
order fluconazole 200mg – cost fluconazole 100mg fluconazole 100mg generic
buy cheap generic cenforce – https://cenforcers.com/ cenforce brand
zantac 300mg pill – https://aranitidine.com/# order zantac 150mg pill
buy cialis without a prescription – https://strongtadafl.com/# how long does cialis take to work 10mg
Thanks for putting this up. It’s evidently done. amoxil nombre generico
viagra 100 mg prices – https://strongvpls.com/# sildenafil 50 mg tablet price
More delight pieces like this would create the интернет better. amoxil price
This is a theme which is forthcoming to my heart… Numberless thanks! Unerringly where can I upon the connection details an eye to questions? https://ursxdol.com/ventolin-albuterol/
This is the compassionate of criticism I in fact appreciate. https://prohnrg.com/product/loratadine-10-mg-tablets/
I am in truth happy to glance at this blog posts which consists of tons of profitable facts, thanks towards providing such data. https://ondactone.com/spironolactone/
Greetings! Very serviceable par‘nesis within this article! It’s the scarcely changes which choice obtain the largest changes. Thanks a portion towards sharing!
https://proisotrepl.com/product/tetracycline/
Thanks on putting this up. It’s understandably done. http://www.zgqsz.com/home.php?mod=space&uid=847636
cost orlistat – purchase orlistat pills buy generic orlistat