$BLUR is poised to unlock 11.13% of its supply for advisors and investors, with nearly 200 million tokens claimed immediately. This event, occurring six months after the token generation event (TGE), has already led to notable market movements.
2/ Advisors & investors unlock$BLUR is set to unlock for advisors and investors around 11.13% of the unlocked supply 6 months after TGE, with almost 200 million $BLUR claimed immediately.
Within 2 months after unlocking, the price steadily decreased from 0.30X to 0.20X (~33%). pic.twitter.com/bQbdX3NBcF
— Token Unlocks (@Token_Unlocks) June 27, 2024
In the two months following the unlocking, $BLUR’s price steadily declined from 0.30X to 0.20X, marking a significant 33% drop. One major player, a whale, capitulated and deposited 17.71 million $BLUR (worth $3.71 million) to Binance, incurring a staggering $5.79 million loss.
This whale had accumulated $BLUR between December 2023 and March 2024 at an average price of $0.54, only to offload it today at $0.21, representing a 61% loss.
Top Institutions Move A Total Of 44.73 Million $BLUR Tokens, Worth $9.63 Million
The situation for $BLUR worsened following the #Blast airdrop, which triggered a further price decline. In the past two days, five whales, institutions, and smart traders moved a total of 44.73 million $BLUR (approximately $9.63 million) to centralized exchanges (CEX), realizing a combined loss of $13.4 million.
3 hours ago, a whale capitulated and deposited 17.71M $BLUR ($3.71M) to #Binance at a $5.79M loss!
The whale accumulated $BLUR from Dec 2023 to Mar 2024 at ~$0.54 and unloaded at only $0.21 (-61%) just now.
Overall, following the #Blast airdrop that caused $BLUR to plummet, we… pic.twitter.com/mXiF5YOOpb
— Spot On Chain (@spotonchain) June 28, 2024
These events underscore the volatility and risk inherent in the cryptocurrency market. The large-scale sell-offs by significant holders highlight the challenges $BLUR faces in maintaining its value amidst substantial token unlocks and market fluctuations.
As the market responds to these developments, the future trajectory of $BLUR remains uncertain, emphasizing the importance of careful analysis and strategic planning for investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post $BLUR Set For Major Unlock, Faces Significant Sell-Off And Price Decline appeared first on The Merkle News.
