Bluzelle

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 <p class="is-style-lead">Bluzelle (BLZ) has struggled since March. However, the recent spike in the asset’s <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> has sparked a bull run for BLZ.</p> 
 <p>Data provided by Coinglass suggests that the <a rel="noopener noreferrer nofollow" title="derivatives" href="https://thebittimes.com/tag/derivatives.html">derivatives</a> <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> volume of Bluzelle rose by 300% over the past 24 hours, surpassing $2.5 billion.</p> 
 <p>In addition, BLZ is trending on Binance, Bybit, and Bitget crypto exchanges, with most traders aiming at long trades.</p> 
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  <img decoding="async" width="3840" height="1300" src="https://cdn.thebittimes.com/images/2023/08/14/11dcf20329eab5e4f4527ea013db545f.webp" alt="BLZ price jumps amid high derivatives trading activity - 1" class="wp-image-14185301"> 
  <figcaption class="wp-element-caption">
    BLZ price, deposit activities, supply on exchanges, and volatility – Aug. 14 | Source: Santiment 
  </figcaption> 
 </figure> 
 <p>Moreover, the open interest (OI) in Bluzelle has also spiked by 36.4%, reaching $87.46 million, per Coinglass.&nbsp;</p> 
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 <p>BLZ is up by 34% in the past 24 hours and trading at $0.103 at the time of writing. Its 24-hour trading volume surged by 275%, exceeding the $200 million mark with a market capitalization of $42.35 million.</p> 
 <p>BLZ’s weekly gains sum up to 99% as the asset ranks 401 in market capitalization.</p> 
 <p>According to data from Santiment, the number of active BLZ deposits onto the exchanges grew by 975% in the past 24 hours. Consequently, this caused the Bluzelle supply on exchanges to hit a new all-time high (ATH) of 284.15 BLZ tokens.</p> 
 <p>Moreover, Santiment data suggests that the number of exchange deposit transactions has increased by 150% since Aug. 12.&nbsp;</p> 
 <p>The high <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> of BLZ, especially in the <a rel="noopener noreferrer nofollow" title="derivatives" href="https://thebittimes.com/tag/derivatives.html">derivatives</a> zone, has caused a significant rise in the asset’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> volatility. It’s important to note that Bluzelle has already registered a drop from its local top of $0.115 on Aug. 13 — its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> volatility has also fallen.</p> 
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BLZ price jumps amid high derivatives trading activity

TheBitTimes

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