Bluzelle (BLZ) Sees Bull Run as Trading Activity Spikes
– Bluzelle (BLZ) has seen a recent spike in its trading activity, leading to a bull run for the asset.
– The derivatives trading volume of BLZ rose by 300% in the past 24 hours, surpassing $2.5 billion.
– BLZ is trending on popular crypto exchanges such as Binance, Bybit, and Bitget, with traders targeting long trades.
– The open interest (OI) in BLZ has also increased by 36.4%, reaching $87.46 million.
– BLZ is currently up by 34% in the past 24 hours, with a trading volume exceeding $200 million and a market capitalization of $42.35 million.
BLZ Deposits on Exchanges Surge, Supply Reaches All-Time High
– The number of active BLZ deposits onto exchanges has grown by 975% in the past 24 hours.
– This has resulted in the Bluzelle supply on exchanges hitting a new all-time high of 284.15 BLZ tokens.
– The number of exchange deposit transactions has also increased by 150% since Aug. 12.
Increased Trading Activity Causes Price Volatility
– The high trading activity of BLZ, particularly in the derivatives zone, has led to a significant rise in the asset’s price volatility.
– Bluzelle’s price has already dropped from its local top of $0.115 on Aug. 13.
– Despite the volatility, BLZ has seen a weekly gain of 99% and currently ranks 401 in terms of market capitalization.
Hot Take:
Bluzelle (BLZ) has experienced a surge in trading activity, leading to a bull run and significant price volatility. This increase in activity has resulted in a rise in BLZ’s trading volume, open interest, and supply on exchanges. Traders have been targeting long trades on popular crypto exchanges. Despite its recent drop from its local top, BLZ has seen substantial weekly gains. Overall, the spike in trading activity indicates growing interest and attention in BLZ within the crypto market.
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