Token

Spot

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blurs-token-unlock-surprisingly-boosts-price-despite-market-expectations" rel="noopener noreferrer nofollow">Blur’s Token Unlock Surprisingly Boosts Price Despite Market Expectations</a> 
Token unlocks are critical events for altcoin projects, often affecting prices due to changes in supply and demand. In January, Blur, a leading NFT marketplace, conducted its monthly token unlock for its native BLUR token. Despite the significant release of tokens, BLUR’s price did not fall but instead increased.
On-chain data provider Spot On Chain reported that 49.46 million BLUR tokens, worth $31.9 million, were released from the locked contract and transferred to <a href="https://en.bitcoinhaber.net/ftx-and-alameda-research-transfer-10-8-million-worth-of-tokens-in-12-hours" rel="noopener noreferrer nofollow">Coinbase</a> for distribution. Typically, token unlocks can lead to price volatility as the sudden increase in available tokens can disrupt the balance of supply and demand.
Spot On Chain highlighted that since June 15, 2023, a total of 534.7 million BLUR tokens valued at $349 million have been unlocked and released into the market. Despite the substantial token unlock on this occasion, BLUR’s price rose, trading at $0.6647, a 16.23% increase over the last 24 hours, according to CoinMarketCap data.
The price surge following the large token unlock caught the attention of the crypto community, as BLUR’s price even briefly reached $0.6812. Token unlocks not only affect price volatility but also signal investor interest in the project. High demand during a token unlock can positively impact the project’s community and investor base.
Moreover, token unlocks can influence price stability. A sudden influx of tokens can lead to a price drop, potentially shaking investor confidence. However, in Blur’s case, the unlock led to an unexpected price increase, defying common market outcomes associated with such events.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/blurs-token-unlock-surprisingly-boosts-price-despite-market-expectations" rel="noopener noreferrer nofollow">Blur’s Token Unlock Surprisingly Boosts Price Despite Market Expectations</a></h5>

Blur’s Token Unlock Surprisingly Boosts Price Despite Market Expectations

BH NEWS

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