Blur Token Price Drops 10% as Trading Volume Decreases
The price of Blur token has fallen by 10% in the past 24 hours, currently trading at $0.4928. This drop in price is accompanied by a 15% decrease in trading volume, indicating a correction in the broader market and increased risk. Meanwhile, a new cryptocurrency called BTCETF has reached over $1.9 million in presale.
Blur Dumps as Whale Sells 7 Million Tokens
A large holder, possibly a whale, recently moved 7 million BLUR tokens to centralized exchanges like Binance and OKX, signaling their intention to sell. This influx of supply and decrease in demand caused Blur’s price to decline significantly. Other whales also contributed to the dump, with blockchain tracking platform Spot on Chain revealing multiple whale transactions impacting Blur’s price.
Blur Price Outlook Amid Whale Activity
Blur’s price is currently trading above the 61.8% Fibonacci retracement level at $0.4894, which is an important support level. However, indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest falling momentum and bearish presence in the market. If the price breaks below the current support level, it could test lower levels at $0.4193, $0.3561, and $0.2780.
Promising Alternative to Blur: BTCETF
BTCETF presents itself as a viable alternative to Blur token. Currently in its presale stage, BTCETF is priced at $0.006 and serves as the powering token for a project that rewards holders when Bitcoin exchange-traded funds (ETFs) are approved. The project incorporates a burn tax on transactions to reduce token supply and aims to burn 25% of tokens as milestones are achieved.
Hot Take: BTCETF Shows Potential for Growth in the Crypto Market
While Blur token experiences whale activity and a price drop, BTCETF is gaining attention and raises anticipation for its 10x growth potential at launch. With its unique features and focus on Bitcoin ETFs, BTCETF could be a promising investment in the crypto market.
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