$20 Million Airdrop, Crypto Go BLURRRRR!

Hey, Gm. This is CoinBasics coming back with another Special on :

1. Hype of BLURRRRR.

2. What is $Blur Token?

3. $500M in 1 Day.

4. NFT Traders Flexing.

5. $Blur Price Analysis.

Let’s take a dive into the world of $BLUR.

Money Printer Go BLURRRRR.

$BLUR airdrop has set markets ablaze with its highly anticipated release, and the official opening of the Blur NFT marketplace for redemptions.

The platform had a slow initial launch due to delays in the project roadmap.

However, it has since gained traction, and the news of Coinbase's potential listing of $BLUR tokens has caused a stir on Crypto Twitter.

The project is situated in the top 10 NFT exchanges and has seen $430m in monthly trading volume

The exchange, founded by Web3 developer Pacman, aims to create a low-fee, royalty-optional NFT marketplace, with a unique approach to target "pro traders" with high trading volume and frequency.

Despite having a smaller user pool, Blur's transaction volume regularly surpasses that of OpenSea.

What Is $BLUR Token ?

$BLUR is an ERC-20 token with a max supply of 3,000,000,000, with 12% airdropped to users, 9% to a team-owned multi-signature wallet, and the remaining supply delegated to two long-term lockup contracts.

Governance is the holding incentive and use case.

The airdrop rewards liquidity provision, and users earn it by sticking around during the bear market, minting NFTs on the marketplace, and transacting large volumes across it.

The Token Reaches $500M Trading Volume.

BLUR tokens were airdropped to users of the Blur marketplace, with the airdrop amount depending on the total activity, network volume, and transactions made by each user on the platform.

Blockchain data shows over 33,000 unique wallet holders of BLUR as of Wednesday morning, with a majority initially receiving the airdrop before transferring the tokens to other wallets.

Tokens of NFT marketplace Blur have already amassed over $500 million in trading volume in less than 24 hours since their airdrop.

NFT Traders Flexing & Finessin.!

The top claimant in the BLUR airdrop took home over 3.2 million BLUR tokens, valued at about $1.93 million based on the current price of about $0.60 per token via CoinGecko.

The second and third-highest claimants, with 2.97 million BLUR and 2.5 million BLUR respectively, were found to have conducted numerous batch sales of various NFTs via Blur with the top wallet.

This suggests either wash trading or a coordinated effort across multiple wallets.

The identities of these wallets' owners are unclear, but they have successfully manipulated the Blur airdrop, driving up its marketplace trading volume.

Other well-known collectors and social media personalities, such as Machi Big Brother, Keungz, and major Bored Ape Yacht Club trader Franklin, were among the top claimants.

The airdrop offered 360 million BLUR tokens, giving the token a current market cap of around $217 million, which is a small portion of the overall 3 billion BLUR supply. About 72% of the airdropped tokens have been claimed so far, with nearly 260 million tokens claimed.

Wait, Don’t Tell Me You Missed Out! If you did, FOMO is hard to let go off, I mean it was free money right!

But, Don’t worry! We got you covered.

There’s Other 2-3 Big Potential Airdrops Coming in Next Few Months.

Also, there’s no chance you can participate in Season 1 of $Blur as it’s over. But there’s Season 2. If want to learn more,

How High Could $BLUR Go?

$BLUR prices initially jumped to $5 before falling 85%, followed by a climb back up.

Price action for $BLUR has been volatile, bouncing between $0.48 - $5.20.

This is not uncommon amid coin launches, and volatility is likely to stabilize with time. It would be wise to expect sell-pressure underlying the $BLUR airdrop, similar to that of the LooksRare $LOOKs airdrop.

With little historical data, it's difficult to predict how high $BLUR could go, but it will be based on factors like how much value the project builds and the percentage of community it holds on to, etc.

So, there you have it, folks!

Stay Tuned for all the latest and greatest in the world of Web3.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.