Binance listed BLUR — token up 88% in a week

On 24 November at 11:00 Kyiv time (12:00 MSK), the cryptocurrency exchange Binance opened trading of the NFT-marketplace Blur (BLUR) token in pairs with Bitcoin, USDT and the Turkish lira.

#Binance will list @blur_io $BLUR with Seed Tag applied.

➡️ https://t.co/Luno3JbCC8 pic.twitter.com/G9qSkUECSV

— Binance (@binance) November 24, 2023

Asset withdrawals will become available on the morning of November 25. The platform assigned BLUR the Seed Tag label, which denotes a new project from the ‘Innovation Zone’ and implies high volatility risks.

The coin has been actively rising over the past month, jumping from $0.16 in mid-October to $0.62 at the time of writing, according to CoinGecko. The weekly price increase of BLUR was 88%.

The news of the Binance listing also triggered a price surge, accompanied by higher trading volume.

The positive momentum for BLUR may be tied to the buzz surrounding the Season 2 airdrop of the marketplace, which concluded on November 21.

Season 2 is COMPLETE

NFT traders on Blur and Creators are eligible for the Season 2 airdrop.

You have 45 days to claim your $BLUR ⏰ pic.twitter.com/HrNtpt2t5z

— Blur (@blur_io) November 21, 2023

Analysts Lookonchain noted that after the airdrop, 19 addresses bought a total of 51.3 million BLUR (~$21 million).

BLUR is pumping after the Season 2 #airdrop!

19 addresses bought a total of 51.3M $BLUR($21M) after the Season 2 #airdrop. pic.twitter.com/hvgByltM5I

— Lookonchain (@lookonchain) November 22, 2023

Additionally, the asset’s price may have been influenced by the launch of the L2-native-yield project Blast from the developers of the NFT platform. In a matter of days, total value locked in the protocol reached $373 million. Blur’s total value locked stands at only $100 million.

Earlier in November, the token rose 33% after news that OpenSea, a rival marketplace, had laid off half of its staff.

In May, Blur, with the participation of Web3 developer Dan Robinson from the Web3-company Paradigm, launched the NFT-lending protocol Blend.