Another 48M Blur tokens hit the market – What next for BLUR prices?

• Over $35 million price of BLUR has been unlocked.
• BLUR has maintained its worth within the $0.7 area.

Blur [BLUR] just lately skilled a token unlock valued within the tens of millions of {dollars}. Usually, every unlock is accompanied by a pre-unlocking pump, however did that sample maintain on this occasion?

Blur unlocks extra tokens

Spot On Chain information confirmed that on sixteenth February, Blur initiated the unlocking of a few of its tokens from its lockup contract. Evaluation of the information confirmed that 48.66 million tokens, valued at over $35 million, had been unlocked.

These tokens had been subsequently transferred to Coinbase for distribution. With this current unlock, a complete of over 583 million tokens, valued at greater than $437 million, have been launched so far.

This unlocking course of has been ongoing for 9 months, with further tokens anticipated to be unlocked within the coming months.

Blur continues pre-unlocking uptrend

Traditionally, Blur has persistently skilled upward worth tendencies within the days main as much as its token unlock, and this current event adopted the identical sample.

An evaluation of the each day timeframe chart confirmed that BLUR started exhibiting upward tendencies on fifth February. Essentially the most vital surges occurred on thirteenth and 14th February, witnessing a rise of over 15% and buying and selling at roughly $0.74. 

Supply: Buying and selling View

Moreover, this marked the primary time in almost a yr that the value reached this degree. Regardless of a slight decline of over 1% on fifteenth February, it nonetheless maintained the $0.7 worth degree.

On the time of writing, it was buying and selling at round $0.73, with a rise of lower than 1%. Additionally, the chart confirmed that it sustained a powerful bull pattern, as mirrored in its Relative Power Index (RSI). On the time of writing, the RSI was above 65, indicating a powerful worth pattern.

Blur quantity continues to say no

Examination of Blur’s buying and selling quantity within the final 24 hours confirmed a noticeable lower.

 Lifelike or not, right here’s BLUR’s market cap in BTC phrases

Information obtained from CoinMarketCap confirmed that the amount has skilled an virtually 33% decline throughout this era. This signifies a considerable discount in buying and selling exercise in comparison with the day before today.

In response to Santiment information on the time of writing, the present quantity is roughly $74 million. Moreover, the information confirmed a declining pattern in quantity over the previous few weeks.

Supply: Santiment