Crypto Exchange Binance to Support BLUR Token Trading on NFT Marketplace Blur
Cryptocurrency exchange Binance has announced that it will add support for BLUR, the native token of NFT marketplace Blur. This comes after Blur’s founder, Tieshun Roquerre, launched Blast, a layer-2 network for non-fungible tokens. Binance will open trading with BLUR/BTC, BLUR/USDT, and BLUR/TRY on November 24 at 09:00 (UTC). Traders can already deposit BLUR, with withdrawals opening on November 25 at 06:00 (UTC). Additionally, Binance will list BLUR as a new borrowable asset with this new margin pair on Isolated Margin.
BLUR Price Surges Following Binance Listing Announcement
The announcement of BLUR’s listing on Binance caused the token’s price to increase by nearly 30%, reaching $0.62. The market capitalization of BLUR also rose to $690.7 million.
Blur Founder Raises $40 Million for the Ecosystem
Blur founder Tieshun Roquerre recently raised $40 million to contribute to the Blur ecosystem. It remains uncertain whether these funds were used for the listing on Binance.
Launch of Blast Raises Concerns in Crypto Community
The launch of Blur’s layer-2 network, Blast, has raised concerns among the crypto community. Polygon engineer Jarrod Watts pointed out that five signer wallets associated with Blast’s multi-signature contract are new and unknown entities, making it risky for users to send funds through Blast in its current state.
Hot Take: Binance’s Support Boosts BLUR and Raises Questions About Blast
The announcement of Binance’s support for BLUR trading has significantly impacted the token’s price and market capitalization. However, concerns have been raised regarding the newly launched Blast network. With unknown entities associated with Blast’s multi-signature contract, users are advised to approach it with caution. This development highlights the importance of thorough due diligence and risk assessment in the crypto space.
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