Non-Fungible Token (NFT) market Blur has become the number one gas burner on Ethereum. Talking about Binance listing, the BLUR price has increased significantly recently. BLUR seems to be a game changer for the NFT space as it provides large trading volume to NFT.
Binance listing for BLUR imminent?
BLUR, the native token of the NFT marketplace Blur, is the number one gas burner on Ethereum. Earlier this week, Coinbase said that they will start trading the BLUR-USD pair once there is sufficient liquidity. The world’s largest crypto exchange Binance still has not listed the BLUR token. However, market players see Binance listing as highly likely. The listing is expected to further increase BLUR’s trading volume and price.
Also now, according to Etherscan.io, BLUR has surpassed UniSwap and Seaport in daily ETH trading volume. Computing resources in Ethereum are measured in gas units and paid by users on the network with the local cryptocurrency ETH. Their 24-hour fees exceeded $457,006.19, which represents about 9.91% of all Ethereum network fees in the past day. This week’s airdrop has burned more than $4 million worth of Ethereum in the past seven days.
Blur’s growing dominance
BLUR’s locked total value (TVL) has reached $121.42 million, witnessing a huge increase in the last 48 hours. This solidified its position as a dominant player in the NFT marketplace ecosystem. Interestingly, it also functions as an NFT marketplace aggregator. According to statistics, it became the largest in the ecosystem with a market dominance of nearly 70%.
cryptocoin.com As we reported, Blur has airdropped BLUR tokens to over 100,000 NFT traders. And the very next day, the company advised the NFT project creators to avoid trades using OpenSea. Artists are not charged for using the marketplace. Read more crypto news here…
Why has BLUR become a trend? What makes this new token unique?
NFT marketplace Blur airdropped 360 million BLUR tokens this week. After the airdrop, the price of BLUR dropped 85% as holders sold their tokens. However, the recent big spike in BLUR price has caused several users to regret selling their BLUR tokens. Blur’s native token has now entered the top 100 crypto list.
yh.eth, an NFT researcher at crypto research firm Delphi Digital, said in a tweet on Feb. 19 that selling the BLUR airdrop was a mistake. He also revealed that the Blur Bidding mechanism will be a game changer for the NFT space. The NFT market is currently dominated by whales which contribute greatly to the trading volume. However, whales just want to buy cheaper and sell quickly to make a profit. Also, there is no NFT trading experience and liquidity in the market. If someone wants to sell 20 Doodles NFTs today, it will likely take days or weeks to sell all the NFTs. Another problem is the ever-increasing floor price and the need to actively re-adjust the floor price.
How different is the blur?
The paradigm-powered Blur NFT marketplace was launched in October last year and solved the liquidity issue by introducing the Bid Points system. The offer mining model is essentially a liquidity pool operation where users provide ETH liquidity, not WETH, to a liquidity pool. It is similar to Uniswap’s AMM innovation for the DeFi domain to reduce liquidity issues.
Blur’s bidding system encourages users who want to airdrop and assume the risk of NFT prices once the bid is accepted. More liquidity in Blur than OpenSea allows users to trade more. Also, whales can buy and sell large volumes of NFTs without any problems.
Also, the BLUR token release allows for value distribution to the community. Most of the first season airdrop has already been requested, with BLUR trading volumes in the billions. The redistribution of BLUR from small investors to large investors, whales and crypto phenoms like BitMEX founder Arthur Hayes is occurring. The circulating supply of BLUR will increase to 1 billion by the end of the year.
