Blur token skyrockets as NFT sales surpass the $10m mark

The Blur (BLUR) token price gained bullish momentum for the first time in over four months as the marketplace saw a notable surge in non-fungible token (NFT) sales.

Blur is up by 30% in the past 24 hours and is trading at $0.39 at the time of writing, reaching a four-month high. The asset’s market cap is currently at $414 million, last seen in late July. BLUR’s 24-hour trading volume also skyrocketed by 400%, surpassing the $460 million mark.

Blur token skyrockets as NFT sales surpass the $10m mark - 1
BLUR price, whale activity, social volume, and open interest – Nov. 7 | Source: Santiment

According to data provided by the market intelligence platform Santiment, whale transactions consisting of at least $100,000 worth of BLUR surged by 248% over the past day — rising from only 19 transactions to 66 in 24 hours.

You might also like: Bank of England releases stablecoin regulation plan

Moreover, data provided by Santiment shows that Blur’s social volume witnessed an 80% surge. 

It’s important to note that, per Santiment, the BLUR price-daily active addresses (DAA) convergence is currently at 24%. In simple terms, when the price DAA divergence indicator stays positive, the model triggers a “buy” signal.

The bullish expectations surface while the total open interest (OI) in BLUR reaches $295 million. However, the platform does not separately indicate the amounts of short and long positions. 

NFT sales surge

The BLUR token price surge comes as the NFT ecosystem gained a 45% momentum over the past day. The total NFT sales volume surpassed the $18 million mark, according to data provided by DappRadar.

Per the data aggregator, most of the NFT sales, $10.65 million, come from the Blur marketplace, while its competitor, OpenSea, only saw a $2.83 million trading volume over the past day. 

The number of sales on Blur has reached around 7,530 unique trades, with a total number of about 4,470 traders, according to DappRadar. 

Read more: SEC Chair Gensler takes dig at lawyers advising crypto and defi projects
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

1inch DEX aggregator deploys on Ethereum’s layer-2, Base

1inch Network is integrating its decentralized exchange (DEX) aggregation protocol on Ethereum’s layer-2 solution, Base. The decentralized finance (defi) protocol said the goal is to tap liquidity from leading DEXs, including Uniswap, Balancer, SushiSwap, and Base Swap. In this way, they can refine and offer better swap rates. A highlight of this integration is the inclusion of a limit order feature for Base users to exercise more control over their trades. This allows them to set a specific price at which they wish to execute their transactions. Trades are then automatically processed once the market price aligns with the user’s predetermined value. 1/ A new adventure begins Our mascot, guided by #DeFi and #Web3 vibes, has again discovered a circular blue portal. Join us as # 1inch embarks on the next chapter of its thrilling journey, reshaping the industry's future! And remember to welcome @BuildOnBase! pic.twitter.com/6IPVx5Py3S — 1inch Network (@1inch)...
Read more

Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes

Image
Less than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent AI-driven crypto projects have all suffered double-digit losses, ranging from 10% to 29.58%, against the U.S. dollar over the last 30 days. Interest in the Combination of Crypto and Artificial Intelligence Has Declined, Crypto-AI Token Economy Sheds $730M Various data points suggest that interest in and value of crypto-AI projects has waned. Global search trends for “crypto ai” peaked in early February 2023, with a Google Trends’ score of 100. Despite the rise, over the past 90 days, the score has slumped to a low of 22. Slovenia, the Netherlands, Cyprus, Lebanon, and Nigeria make up the top five countries interested in “crypto ai” searches at present. Global search trends according to ...
Read more

Paysenger Offers The Best Of Web2 And Web3 On Its Social Platform

Paysenger has emerged as a popular choice for content creators and influencers due to its exciting platform that lets them collaborate with brands and interact with fans. The platform’s rapid growth has put its native token, EGO, on track to become one of the most attractive investment opportunities in the crypto space. The consistent development of the content creators’ market has led to a significant amount of investment flowing into this space, opening up a gap for an exclusive platform that specifically caters to the needs of influencers and social media personalities. Paysenger has managed to fill that gap with its collaboration platform that offers tools for content monetization and audience engagement. Paysenger has leveraged the power of Web3 to allow content creators to engage with their audience while simultaneously monetizing their popularity. The platform lets creators generate captivating content, sell posts on the NFT marketplace, engage in paid chats with the...
Read more