BLUR Is Down 30%, And Whales Are To Blame-Here's Why🔻🚥
BLUR, the decentralized NFT marketplace and OpenSea rival, faces a 30% drop from November highs. 🐋 Whales, significant holders, are moving substantial BLUR amounts to exchanges, possibly signaling a selling spree. In the last 24 hours alone, 16.85M BLUR (approx. $8.43M) flooded exchanges.
Notable moves include a 2.54M BLUR deposit to Binance from an airdrop and Mandala Capital transferring 2.76M BLUR to OKX. A "0x68b5" whale withdrew 3.31M BLUR from Binance, signaling potential liquidation. Sentiment shifts as whales' large transfers to exchanges suggest looming selling pressure.
Despite the downturn, BLUR remains up 220% from October lows. The failure to breach the 20-day MA in the daily chart indicates the uptrend's resilience. Traders watch closely as losses below $0.46 may trigger a sell-off, while an upswing above $0.58 could propel BLUR to $0.84 or higher.
The recent surge was tied to Season 2 Airdrop's activation, concluding on Nov 20. The market cooled off in early December after a brief extension of gains. Whether the uptrend resumes remains uncertain, but the NFT community keeps a keen eye on Blur's market dynamics.
