Whales Transfer 7M BLUR to Binance & OKX- BLUR Price Slips

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The BLUR cryptocurrency gained significant attention in the cryptocurrency community due to a surge in whale activity.

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BLUR, a cryptocurrency supported by Paradigm, has recently captured considerable attention in the cryptocurrency space. This surge in interest comes as large-scale whale activity was observed on November 27, with whales moving more than 7 million BLUR tokens to centralized exchanges such as Binance and OKX.

The transfer of cryptocurrencies to exchanges suggests a potential increase in supply, leading to a decrease in demand for the cryptocurrency. In line with this movement, the BLUR price experienced a notable decline at the time of writing.

Whale Transactions Impact BLUR Price: Insights from Spot on Chain

Recent data from Spot on Chain, a blockchain tracking platform, reveals a notable impact on the BLUR price following significant whale transactions. A whale with the address 0x13d deposited 3.75 million BLUR to Binance and OKX at approximately $0.629, marking a cool-down in the BLUR price after the tokens were dumped to exchanges. The wallet had accumulated these holdings from OKX at $0.535 two days prior, suggesting an estimated profit of $353,000.

In a separate transaction, another whale (wallet address 0x387) transferred 1.67 million BLUR to Binance at $0.629, having obtained these holdings from OKX at $0.375 five days earlier. This move indicated an estimated profit of $424,000. Notably, this wallet is linked to orz-allinornothing.eth.

Additionally, Wintermute Trading, a prominent crypto market maker, deposited 1.75 million BLUR to OKX about 12 and 9 hours ago. The data indicates that the market maker has deposited a total of 4.25 million BLUR to both Binance and OKX over the past two days.

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These substantial coin transfers to exchanges align with the recent decline in the token’s value, raising speculations and discussions among crypto market enthusiasts.

BLUR Price Takes a Hit After Whale Activity

The BLUR price has experienced a significant decline of 12.12%, reaching $0.5274 at the time of writing. Despite this downturn, the token had previously demonstrated an impressive surge of 54.11% over the past week.

Simultaneously, the twenty-four-hour trading volume saw a decrease of 12.80%, reaching $358.95 thousand at the time of writing.

The observed drop in the token’s price aligns with recent large-scale coin transfers to exchanges, indicating an uptick in the total supply of the cryptocurrency.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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