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While the non-fungible Blur token market has captured a significant amount of market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. Currently, the BLUR token is down more than 88% since the crypto asset’s all-time high on February 14, 2023.
Blur’s Native Token Drops 28% Against the Greenback in 30 Days
Blur’s NFT marketplace has captured the majority of NFT sales over the past month, according to metrics from dappradar.com. In addition, 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 Opensea’s NFT market accounted for 48.3%. In terms of number of traders last week, Opensea surpassed Blur, with over 89,000 traders compared to Blur’s 39,000.
While the market is very competitive, Blur’s native token, BLUR, has suffered this past month compared to most crypto assets. For example, while ETH was 8.5% higher and BTC was up 19.8% in March, BLUR was down 28% against the US dollar.
Currently, BLUR holds the 161st largest market cap, with a circulating supply of 426.84 million BLUR tokens. As of Sunday, April 2, 2023, BLUR’s market valuation was $248 million.
Over the last 24 hours, BLUR has seen global trading volume of $75.59 million, with Okx being the most active BLUR exchange today. Further statistics show that 42,509 unique addresses store BLUR tokens, and about 94.42% of all created BLURs are stored in 10 wallets.
Rich list data from coincarp.com shows that 100 BLUR holders control 98.10% of the total supply, with the top addresses being spreaders of BLUR contracts. Meanwhile, BLUR hit an all-time high against the US dollar on February 14, 2023, at $5.02 per unit. At its current price of $0.579 per BLUR, the token has fallen over 88% since then.
What do you think the future holds for the BLUR token and the NFT market as a whole, given current trends and statistics? Share your thoughts on this subject in the comments section below.
Image Credits: Shutterstock, Pixabay, WikiCommons
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