- BLUR ranked second on the record of high NFT initiatives by social exercise.
- BLUR was down by over 3% within the final 24 hours, and metrics regarded bearish.
Blur [BLUR] as soon as once more got here into the limelight due to its reputation within the NFT ecosystem. Whereas the blockchain excelled within the NFT house, its native token’s worth witnessed a drop throughout the identical interval.
Let’s dive deep into Blur’s general well being to grasp what’s truly occurring.
BLUR’s NFT house is booming
CryptoDep, a preferred X (previously often known as Twitter), lately posted a tweet highlighting certainly one of Blur’s latest achievements.
As per the tweet, Blur ranked second on the record of the highest NFT initiatives by social exercise on 4th December 2023. The tweet talked about that on 4th December, BLUR’s social interactions reached 623,000, whereas its social dominance stood at 0.12%.
⚡️TOP #NFT Tasks by Social Exercise$VRA $BLUR $FLOKI $NAKA $ILV $GALA $XCAD $SAND $TVK $TLOS pic.twitter.com/K16RG6gAni
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) December 4, 2023
AMBCrypto then had a have a look at Santiment’s knowledge and located the same pattern of development in its NFT house.
As per the info, BLUR’s whole NFT commerce counts spiked final week. In actual fact, its whole commerce quantity in USD additionally went up considerably on third December 2023.
Supply: Santiment
{The marketplace} additionally fared properly in opposition to its opponents, as a number of of the metrics have been forward of the remaining.
For instance, BLUR’s commerce quantity share was greater than 76%. Alternatively, its high competitor OpenSea’s share was solely above 19%.
The identical story was true for its market share when it comes to merchants, too. Aside from that, Blur was additionally near OpenSea when it comes to its variety of day by day merchants, as per Dune.
Supply: Dune
Blur traders are bearing losses
Whereas {the marketplace} continued to achieve new highs within the NFT ecosystem, the native token took a blow within the latest previous as its worth dropped.
In line with CoinMarketCap, BLUR was down by greater than 3% within the final 24 hours alone. On the time of writing, it was buying and selling at $0.5428 with a market capitalization of over $613 million.
Its buying and selling quantity additionally dropped, which means that traders weren’t keen to commerce the token.
Like worth, its reputation additionally dropped, as evident from the decline in its social quantity. Blur’s weighted sentiment dropped, which means that unfavorable sentiment was dominant.
Blur’s community development declined, which means that fewer new addresses have been created to commerce the token. Nonetheless, it was shocking to see that, regardless of a drop in worth, its MVRV ratio elevated.
Supply: Santiment
How a lot are 1,10,100 BLURs price right this moment
AMBCrypto’s evaluation of Blur’s day by day chart additionally identified fairly a couple of bearish metrics.
BLUR’s Cash Circulation Index (MFI) and Relative Energy Index (RSI) each went down. Its Chaikin Cash Circulation (CMF) additionally dropped, which might have performed its half in pushing the token’s worth down.
Supply: TradingView
