Blur (BLUR), an altcoin closely tied to the world of non-fungible tokens (NFTs), has experienced a remarkable surge over the past 24 hours. The native token of the Blur NFT aggregator and marketplace has soared by more than 20%, demonstrating substantial growth.
This surge in Blur’s value is accompanied by an astonishing increase in trading volume, which has spiked by an impressive 1240%. The catalyst for this upward trend appears to be the listing of Blur on Upbit, a prominent South Korean trading platform, which coincided with a 22% price rise.
Despite currently ranking 110th in terms of market capitalization, Blur’s trading volume has propelled it to the 44th position in the global cryptocurrency market. Furthermore, its recent integration with the OKX NFT marketplace, coupled with its presence on the Solana (SOL) blockchain, has contributed to its substantial growth.
Blur experienced a significant downturn on June 5 due to legal action taken by the US Securities and Exchange Commission (SEC) against major crypto firms. However, it has since rebounded and is currently trading at $0.36.
The question now arises: Can Blur sustain this impressive upward trend? The recent surge in growth has established a positive trajectory for Blur over the past seven days. As it positions itself as a preferred platform for NFT collectors and sellers, its trading volume continues to rise.
The Blur NFT aggregator has witnessed an exponential increase in trading volume, surpassing $395 million. Blur has seen a 65% growth in the number of unique traders, reaching a total of 6,278.
In terms of NFT marketplaces, Blur stands out with an average price of $3410 for listed collectibles, making it the top choice for buyers and sellers.
It’s worth mentioning that Blur’s popularity received a significant boost in February through an airdrop, attracting attention from airdrop hunters during the first quarter. In fact, data reveals that Blur surpassed OpenSea as the leading NFT market leader in February, experiencing a remarkable 361% surge in Ethereum NFT trades.
Blur has witnessed a substantial surge in value and trading volume, fueled by its integration with prominent NFT marketplaces and platforms, as well as its appeal to collectors and sellers. While its recent growth is promising, the crypto market can be highly volatile, and investors should carefully assess the risks associated with any investment. As Blur continues to make its mark in the NFT space, its performance will be closely monitored to gauge its sustainability in the long term.
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