Analysis of Whale Movements and Trader Activity: Will the Unlocking of 196 Million BLUR Tokens Worth Over $60M Lead to a Price Crash?
Tomorrow is a significant day for BLUR as 196 million tokens, valued at $62.3 million, will be unlocked. This represents around 40% of the circulating supply. The unlocking event has raised concerns about how it may affect market sentiment and the buying or selling behavior of SmartMoney and whales.
BLUR Token Unlock Details
Based on the Token Unlock data, the upcoming unlocking event will distribute the following amounts of BLUR tokens: 115.68 million tokens ($36.8 million) to past and future core contributors, 75.4 million tokens ($24 million) to investors, and 4.9 million tokens ($1.56 million) to advisors.
Also Read: Blur Introduces ETH Loan Repayment Feature
Last year, BLUR made headlines by securing a $14 million investment from renowned investors including Paradigm, Punk6529, CozomoMedici, DHOF, Krybharat, Zeneca, and others. In February, BLUR successfully concluded a funding round estimated to be between $15 million and $30 million, which valued the project at $1 billion.
According to Token Economics data, the total tokens allocated to investors currently add up to 565,633,826 $BLUR tokens, which is equivalent to $181 million. In terms of whale activity, the 8th largest holder of BLUR, identified as “0x06cD,” has withdrawn 10.5 million tokens ($3.36 million) from OKX since April 4th, with the most recent withdrawal happening two days ago. Currently, “0x06cD” holds 13.5 million tokens ($4.3 million).
Examining Key Trends and Behaviors
A well-known trader, oilysirs.eth, made a successful investment by purchasing 100,000 BLUR tokens at a price of $0.35, investing 20 ETH ($35,000). The investment proved to be profitable as the trader gained 455 ETH ($792,000) from the price appreciation of BLUR. Furthermore, oilysirs.eth bought 1 million tokens at $0.46 on February 15th and sold them for 757 ETH ($1.26 million) at a price of $1.23 on February 16th and 19th.
Address “0xfcef” recently withdrew 1.9 million BLUR tokens from liquidity and sold them all at a price of $0.31. This action was preceded by receiving BLUR tokens from the SmartMoney address “0x8129.” The SmartMoney address “0x8129” has a history of generating around 587,000 in profits by consistently buying at low prices and selling at high prices.
In the last 24 hours, the price of BLUR has dropped by 0.89% and now stands at $0.3225.
The unlocking of 196 million tokens, representing approximately 40% of the circulating supply, has sparked both excitement and caution in the market. As SmartMoney and whales navigate their strategies, it is uncertain whether the unlock event will result in a positive or negative impact on BLUR’s price.
Also Read: Blur NFT Maintains Number One Spot Despite Cooling Volumes Since Airdrop
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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