According to on-chain data, some altcoin projects are being transferred to various cryptocurrency exchanges. This situation created a question mark in the minds of users about whether the sale, that is, the sell-off, will come. Because it is thought that the altcoins transferred to the stock exchanges are for sale purposes. In case of sales, a decrease in prices can be expected due to the increase in the amount of coins in circulation. Here are the details…
Transferring altcoins to exchanges
On February 14, cryptocurrency on-chain platform Lookonchain reported that Wintermute has transferred 4 million BLUR tokens to multiple crypto exchanges, including Bybit, KuCoin, Gate.io, OKX, and Huobi. Meanwhile, OKX users complained that there was a delay in the arrival of BLUR during the deposit on the morning of February 15th. OKX reported that there was a very large BLUR stream causing the problem after the process started.
OKX also shared that his team will optimize the risk system and internal procedures to prevent the problem from occurring in the future. Additionally, it will launch an “OKB airdrop” campaign to assist affected customers. On the other hand, less than 24 hours after the much-announced airdrop, Blur tokens have already seen more than $500 million in trade volume. cryptocoin.com Airdrops, typically used as a user acquisition strategy, are the unannounced release of a cryptocurrency to various wallet addresses, often for free.
Users of the Blur marketplace received airdropped BLUR tokens with each airdrop amount based on the overall activity of the platform, network volume, and transactions by individual users. According to Twitter, this meant that some people had acquired as many as 128,000 BLUR tokens. Etherscan, a blockchain tool, also reveals that consumers have received anywhere from 25 to hundreds of thousands of BLURs. Previously, CoinGecko reported that over $530 million in fuzz was traded on exchanges such as OKX, Kucoin, and Uniswap. DeFiLlama data shows that the total value of tokens in the Blur market increased by $10 million within 24 hours.
The launch of Blur drew attention
Blur’s native token is finally live, marking a long-awaited milestone for the NFT market that may be ready to go head-to-head with market leader OpenSea. “It’s time to blur,” the company said on Twitter on Monday, prompting followers to take control of the airdrop. Tuesday’s token airdrop came just after Blur had raised enough money to achieve “unicorn” status, meaning a valuation of over $1 billion was revealed.
Last month, Blur delayed the unlocking of its token, saying it “will allow us to perform an unreleased launch for an additional two weeks.” Blur held three airdrops last year and delivered “maintenance packages” containing an undisclosed number of BLUR tokens to traders. Tuesday was the first opportunity for NFT traders to not only find out how many tokens were issued to them, but also to start buying and selling them on the open market.
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