BLUR plummets 84% following 360M token airdrop

NFT market Blur noticed its native BLUR token fall to $0.78 from a excessive of $5 — recording a pointy decline of over 84% — shortly after its airdrop distribution went reside.

BLUR airdrop and tokenomics

For the reason that NFT market launched roughly 4 months in the past, it has onboarded about 146,823 distinctive customers who traded $1.2 billion value of NFTs (excluding Washtrading).

On Feb. 14, Blur announced that it might airdrop some 360 million BLUR tokens to its early adopters.

Blur disclosed that out of its complete provide of three billion, 51% had been allotted to the neighborhood, 29% to core contributors, and 19% to traders.

Out of the neighborhood allocation, about 360 million BLUR was unlocked for airdrop distribution to early adopters.

Obtainable data reveals that early adopters — together with merchants, care package deal holders, and creators — have claimed as much as 86% of the airdrops.

Nonetheless, buying and selling actions that adopted the airdrop distribution pressured the value of BLUR to fall over 84% within the final 24 hours, based on Coingecko data.

As of press time, BLUR is buying and selling at $0.78 with a complete market cap of $276 million.

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