Blur Token Surges 20% in 24-Hour Trading, Showing a Buy Signal
The native token of the Blur non-fungible token (NFT) marketplace, BLUR, has experienced significant growth, making it the top gainer among the top 100 cryptocurrencies. Currently trading at $0.494, BLUR has seen a 20% increase in the past 24 hours. With a market cap of over $542 million, it ranks as the 84th largest cryptocurrency.
Trading volume for BLUR has seen a significant surge of 95%, reaching $852.7 million in the past 24 hours. Additionally, data from Santiment reveals that Blur’s social volume has skyrocketed by an astonishing 2,250% over the past three days.
Despite this surge in social activity, whale transactions worth at least $100,000 have declined by 66% in the past two days. However, Santiment’s data shows that Blur’s price-daily active addresses (DAA) divergence indicates a buy signal. The current price DAA divergence stands at 332%, suggesting the accumulation of small investors that could drive the price higher.
Furthermore, DappRadar data reveals an 8.29% increase in NFT trading volume on Blur in the past 24 hours, with approximately 3,830 unique traders participating.
Blur founder Tieshun Roquerre has hinted at developing a more cost-effective layer-2 blockchain for NFTs and has raised $40 million to support the growth of the Blur ecosystem.
Hot Take: BLUR Token Shows Strong Growth Potential Amidst Increased Social Activity
The BLUR token has experienced remarkable growth in recent times, emerging as the top gainer among leading cryptocurrencies. With a 20% surge in just 24 hours, BLUR’s value now stands at $0.494. This significant increase is accompanied by a surge in trading volume, reaching $852.7 million within the same period.
Social activity surrounding BLUR has also seen a meteoric rise, with a staggering 2,250% increase over three days. While whale transactions have decreased by 66%, Santiment’s data suggests that small investors are accumulating the token, indicating a potential buying opportunity.
Notably, Blur’s NFT trading volume has also witnessed an 8.29% rise in the past day, attracting around 3,830 unique traders. The project’s founder, Tieshun Roquerre, plans to develop a more cost-effective layer-2 blockchain for NFTs after raising $40 million for the Blur ecosystem.
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