Tomorrow marks a significant event for BLUR, as 196 million tokens worth $62.3M, equivalent to approximately 40% of its circulating supply, will be unlocked. This unlocking event raises questions about the potential impact on market sentiment and SmartMoney and whales’ buying or selling behavior.
BLUR Token Unlock Details
According to Token Unlock data, the unlocking event will distribute the following amounts of BLUR tokens:
- 115.68 million ($36.8 million) to past and future core contributors.
- 75.4 million ($24 million) to investors.
- 4.9 million ($1.56 million) to advisors.
BLUR announced securing a $14 million investment last year, with notable investors such as Paradigm, Punk6529, CozomoMedici, DHOF, Krybharat, Zeneca, and more. In February, BLUR closed a funding round between $15 million and $30 million, valuing the project at $1 billion.
Token Economics data reveals that the total tokens allocated to investors currently amount to 565,633,826 $BLUR ($181 million). In terms of whale activity, “0x06cD,” the 8th largest holder of BLUR, has withdrawn 10.5 million tokens ($3.36 million) from OKX since April 4th, with the most recent withdrawal occurring two days ago. Currently, “0x06cD” holds 13.5 million tokens ($4.3 million).
Whale Activity and Trader Insights
Oilysirs.eth, a prominent trader, recently purchased 100,000 BLUR at $0.35, investing 20 ETH ($35,000). This move proved profitable as the trader gained 455 ETH ($792,000) from BLUR’s price appreciation. Additionally, oilysirs.eth bought 1 million tokens at $0.46 on February 15th, sold it for 757 ETH ($1.26 million) at a price of $1.23 on February 16th and 19th.
Address “0xfcef” removed 1.9 million BLUR from liquidity and sold all the tokens at $0.31. This action followed the receipt of BLUR from SmartMoney address “0x8129.” SmartMoney “0x8129” has a track record of making approximately 587,000 from it, consistently buying at low prices and selling at high prices.
The price of BLUR has declined by 0.89% in the past 24 hours, settling at $0.3225.
The unlocking of 196 million tokens, accounting for around 40% of the circulating supply, raises both anticipation and concerns in the market. As SmartMoney and whales continue to maneuver, it remains to be seen whether the unlock event will have a bullish or bearish effect on BLUR’s price.
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