The Blur (BLUR) cryptocurrency quickly gained popularity after its launch. However, recent data reveals that 98.88% of BLUR holders are currently in loss. According to IntoTheBlock, a chain analysis company, 98.88% of BLUR holders are losing money compared to the price at which they acquired the tokens.
Initial interest in BLUR token
The BLUR token generated significant interest upon its release. Its value skyrocketed, allowing early buyers to make substantial profits. The BLUR token reached a historical peak of nearly $45 shortly after its launch in February.
When the Blur platform was first introduced in October last year, it positioned itself as the platform for professional NFT traders and announced a token airdrop that would make Blur a more advantageous choice than OpenSea and other competitors. Blur quickly surpassed OpenSea to take the top spot in terms of trading volume. Blur’s trading activity increased rapidly, pushing the market total for February to over $2 billion.
Temporary success for Blur
However, Blur’s “success” was only temporary. Trading volume in the market as a whole has significantly decreased in recent months, and whale traders are experiencing losses or withdrawing their money from Blur’s NFT auction pool.
The wallet with the largest number of BLUR airdrops has finally decided to sell BLUR, according to a Lookonchain report from July 4th. The whale wallet has therefore deposited the 3.2 million BLUR received through airdrop, valued at $1.15 million at the current price, on the OKX crypto exchange.
The drop in BLUR price
At its peak, these 3.2 million BLUR were worth about $4.3 million. Currently, the BLUR token has dropped by 99.29% compared to its historical peak of $45.48. The price of BLUR reached an all-time low of $0.296 on June 12th. At the time of writing this article, BLUR has increased by 1.60% to $0.32 in the last 24 hours.
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