Blur

2024

Spot

Coin

<p>BLUR, a token linked to&nbsp;<a href="https://www.thecoinrepublic.com/2024/03/17/the-complete-guide-to-nft-drops-calendar-radar-for-2024/">NFTs</a>, saw one of its whales, an investor holding large quantities of a cryptocurrency, withdraw a substantial amount of BLUR tokens from the OKX exchange. It’ll be interesting to see BLUR price trajectory from here. </p> 
<p>This transaction, valued at around $5.72 million when BLUR was trading at approximately $0.383, has sent ripples through the market. The current market conditions suggest that if this whale were to sell now, they could face staggering losses amounting to $3.54 million. This would mean a 61.9% decline from the initial value.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">A whale just deposited 14.95M <a href="https://twitter.com/search?q=%24BLUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BLUR</a> ($2.18M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at a huge loss!<br><br>The whale withdrew most <a href="https://twitter.com/search?q=%24BLUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BLUR</a> from <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a> at ~$0.383 ($5.72M) during last November's <a href="https://twitter.com/hashtag/Blur?src=hash&amp;ref_src=twsrc%5Etfw">#Blur</a> and <a href="https://twitter.com/hashtag/Blast?src=hash&amp;ref_src=twsrc%5Etfw">#Blast</a> airdrop hype to stake the tokens. If truly selling now at $0.148, the whale would lose $3.54M (-61.9%).… <a href="https://t.co/7f9un6syaA">https://t.co/7f9un6syaA</a> <a href="https://t.co/tUjyzP6NCw">pic.twitter.com/tUjyzP6NCw</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1830510254507123172?ref_src=twsrc%5Etfw">September 2, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<h2 class="wp-block-heading" id="h-whale-activity-raises-concerns"><strong>Whale Activity Raises Concerns</strong></h2> 
<p>The whale transferred&nbsp;<a href="https://www.thecoinrepublic.com/price-prediction/blur/">BLUR</a>&nbsp;tokens from OKX for about $0.383. This transaction has all but all the BLUR held on the exchange and has raised questions about the whale’s motives. This is quite significant given that whales substantially influence the market. The 9% decline indicates the vulnerability that whales experience.</p> 
<p>This drastic potential loss erases some doubts about the whale’s tactics and the general sentiment of the market towards BLUR. The whale’s decision to remove large amounts of the&nbsp;<a href="https://www.thecoinrepublic.com/2023/11/26/a-comprehensive-guide-to-universal-basic-income-cryptocurrency/">crypto</a>&nbsp;from exchange could be due to a lack of confidence in its price. The whale could intend to hold the tokens outside the exchange, hoping for better market conditions.</p> 
<h2 class="wp-block-heading" id="h-market-sentiment-turns-bearish"><strong>Market Sentiment Turns Bearish</strong></h2> 
<p>The market sentiment surrounding BLUR has been notably bearish. The token experienced a 2.2% drop in the past 24 hours alone. The attached chart illustrates a clear downward trend, with BLUR consistently declining over four-hour intervals. The descending channel in the chart is a classic technical analysis pattern indicating sustained selling pressure.</p> 
<p>This bearish channel is further supported by the volume oscillator below the chart. This shows sporadic volume spikes corresponding with heightened selling activity periods. The spikes suggest that the selling pressure is being driven by more prominent market participants, such as whales. Whales or big holders may be offloading their holdings in anticipation of further price declines.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="528" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-1024x528.png" alt="BLUR Price 4-hour BLUR/USDT Chart | Source:&nbsp;TradingView" class="wp-image-694010" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-1024x528.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-300x155.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-768x396.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-1536x792.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-150x77.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-696x359.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-1068x551.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1-1920x990.png 1920w, https://www.thecoinrepublic.com/wp-content/uploads/2024/09/image-7-1.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px">
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  BLUR Price 4-hour BLUR/USDT Chart | Source:&nbsp;<a href="https://www.tradingview.com/symbols/BLURUSDT/">TradingView</a>
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</figure> 
<p>Looking at the charts, we see that the pressure has continuously decreased. According to the chart data, the prices have gradually fallen from their recent peak of around $0. 205, which is considerably lower as compared with the previous year. </p> 
<p>This ongoing bearish trend suggests a market that lacks direction, and directionless markets are often characterized by sustained selling pressure, which the buying interest cannot check. The absence of demand at these levels may indicate that the investors are waiting for reversal or consolidation before pushing their orders through.</p> 
<h2 class="wp-block-heading" id="h-potential-losses-loom-for-large-investors"><strong>Potential Losses Loom for Large Investors</strong></h2> 
<p>While for the large investors or the whales, the current market trends pose a significant risk. The whale who recently withdrew BLUR from OKX now stands the chance of incurring heavy losses if he or she chooses to sell off the tokens. </p> 
<p>As the value of BLUR keeps falling, the chance of a 61 is still very much possible. Hence, a 9% loss could be seen as a lesson on the dangers of cryptocurrency investments, no matter if you have millions of dollars. This scenario captures the difficulties that considerable investors experience in the volatile markets that can lead to severe consequences even from the right decisions.</p> 
<p>The potential for further decline of BLUR’s price remains a significant threat to other participants in the market. If the whale proceeds to sell at the current prices, the losses resulting from the selling may lead to other investors following suit, worsening the situation. </p> 
<p>This could lead to a vicious cycle where low prices cause people to sell more and hence put more pressure on prices. For the whale and other big currency owners, the decision to sell or to hold has become a high-risk game with excellent consequences for the whole market.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/09/02/whales-at-risk-of-losses-as-blur-price-keeps-plunging/">Whales at Risk of Losses as Blur Price Keeps Plunging</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Whales at Risk of Losses as Blur Price Keeps Plunging

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