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- More than 49 million Blur tokens were recently unlocked.
- It responded by adding more than 7% in value.
The unlocking of Blur tokens has continued and the latest unlock sees more tokens moving to exchanges. How have the tokens performed in response to these recent developments and which direction has shown greater dominance in exchange flows over the past few days?
More Blur tokens will be unlocked.
According to information from Etherscan, about 49.8 million Blur tokens worth about $23.2 million were recently unlocked. These unlocked tokens were initially transferred from a multi-signature address and then moved to Coinbase Prime.
Since the unlock process began, 485 million tokens worth approximately $226 million have been unlocked and transferred to Coinbase Prime.
Additionally, according to data from CoinMarketCap, the current circulating supply is over 1.1 billion, with a total supply of 3 billion as of the latest update.
This means that despite the amount of tokens unlocked so far, the circulating supply is much lower than the total supply.
Blur exchange flow tracking
Exchange flowchart surveys have shown a noticeable impact from recent token unlocks. The chart shows a significant increase in activity following the recent lifting of lockdowns.
As of this writing, the inflow chart shows that over 54 million Blur tokens have flown to exchanges. In particular, this is the first time this month that such an inflow has been reached. This means an influx of tokens for sale.
Source: Santiment
Conversely, the exchange outflow chart shows that approximately 45 million tokens were withdrawn from various exchanges. As with the inflows, this was the first time we have seen such high volume this month.
This means increased withdrawals and accumulation of tokens by traders. Current exchange flow analysis suggests balanced movement of tokens in and out of exchanges. It has shown that there is a lack of imminent sell-off and a stable post-lockdown scenario.
Source: Santiment
How much is 1,10,100 BLUR worth now?
Trends in BLUR
Since token unlocking, price movements have shown a positive trend, as can be seen on the daily chart. The chart shows a notable increase in value of over 7% based on current data.
Blur traded at about $0.48, reflecting a gain of 7.5%. Additionally, the recent price surge has contributed to the Relative Strength Index (RSI) line rising. At the time of this writing, the RSI line is slightly above 50, indicating a weak but discernible bullish trend.
Source: TradingView