Blur Plummets 84% Following 360M Token Airdrop!
• BLUR’s native token, BLUR, saw a sharp decline of over 84% after its 360 million token airdrop distribution went live.
• Early adopters such as traders, care package holders, and creators were able to claim up to 86% of the airdrops.
• The total supply of Blur tokens is 3 billion with 51% allocated to the community and 19% to investors.
BLUR Plummets 84% Following Airdrop
NFT marketplace Blur recently announced that it would be airdropping some 360 million BLUR tokens to its early adopters. This announcement caused the price of BLUR tokens to plummet by over 84%. Out of the 3 billion total supply, 51% was allocated to the community and 19% was allocated to investors. Early adopters such as traders, care package holders and creators were able to claim up to 86% of the airdrops.
High Trading Activity After Airdrop Distribution
Following the distribution of its 360 million token airdrop, Blur saw an increase in trading activities which further contributed towards pushing down the price of its native token from $5 before the dropdown to $0.78 at present. Coingecko data shows that this drastic change occurred within 24 hours after the launch of its air drop distribution program.
146,823 Unique Users Trade on NFT Marketplace
Since launching four months ago, Blur has onboarded about 146,823 unique users who traded $1.2 billion worth of NFTs (excluding Washtrading). This figure suggests that despite its current price fall due to high trading activity following an airdrop distribution program, there is still significant interest in what Blur has been offering since it first launched four months ago.
Long-Term Effects Of Tokenomics On Price
It remains unclear how long these short-term effects will last or whether their effects on prices will extend into longer-term cycles with regards to tokenomics for BLUR tokens and other cryptocurrencies alike. However going forward it would be interesting for cryptocurrency enthusiasts watch how these new developments impact prices in both short-term and long-term cycles moving forward depending on how well received these changes are by crypto enthusiasts worldwide.
After launching four months ago with 146 823 unique users trading $1 2 billion worth of NFTs (excluding Washtrading), Blur released an airdrop program distributing 360M Tokens which caused a sharp decline in prices dropping from $5 before launch down to $0 78 at present day due high trading activity post launch . It remains yet unclear what long term effects these new changes might have on prices but they should not be overlooked as they could have potential implications on future pricing structures for many other cryptocurrencies moving forward