BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market
While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023.
Blur’s Native Token Slides 28% Against the Greenback in 30 Days
The NFT marketplace Blur has captured a majority of the NFT sales over the past month, according to metrics from dappradar.com. Additionally, according to data from Dune Analytics, Blur’s market share in terms of volume over the past week was 71%.
The Dune Analytics dashboard, created by @hildobby, shows that over the past week, Blur accounted for 42% of trades, while the NFT marketplace Opensea accounted for 48.3%. In terms of trader count this past week, Opensea outpaced Blur, with over 89,000 traders compared to Blur’s 39,000.
While the marketplace has been competitive, Blur’s native token, BLUR, suffered this past month compared to most crypto assets. For instance, while ETH rose 8.5% higher and BTC rose by 19.8% in March, BLUR dropped 28% against the U.S. dollar.
BLURUSD chart by TradingView
Currently, BLUR holds the 161st largest market capitalization, with a circulating supply of 426.84 million BLUR tokens. As of Sunday, April 2, 2023, BLUR’s market valuation is $248 million.
Over the last 24 hours, BLUR has seen $75.59 million in global trading volume, with Okx being the most active BLUR exchange today. Statistics further indicate that 42,509 unique addresses hold BLUR tokens, and roughly 94.42% of all BLUR created is held in 10 wallets.
Rich list data from coincarp.com shows that 100 BLUR holders control 98.10% of the total supply, with the top address being the BLUR contract deployer. Meanwhile, BLUR reached an all-time high against the U.S. dollar on February 14, 2023, at $5.02 per unit. At current prices of $0.579 per BLUR, the token has dropped more than 88% since then.
What do you think the future holds for the BLUR token and the NFT market as a whole, given the current trends and statistics? Share your thoughts about this subject in the comments section below.