- Blur continued its token unlock program in the early hours of Tuesday, April 16, 2024.
- The NFT marketplace has unlocked 655 million BLUR, worth $259 million of its total supply.
- BLUR’s price dropped as the project released more tokens into the crypto market.
Blur, the decentralized marketplace for non-fungible tokens (NFTs), continued its scheduled token unlock program in the early hours of Tuesday, April 16, 2024. In a post on X, Spot On Chain, the leading crypto analytics platform, noted that the NFT marketplace released 34.42 million BLUR, equivalent to $15.29 million, into the cryptocurrency ecosystem.
34.42M $BLUR ($15.29M) was unlocked from the lockup contract 2hrs ago and will soon be moved to #Coinbase for distribution.In total, 655M $BLUR (now $259M), or 21.8% of the total supply, have been unlocked since Jun 2023.
The $BLUR price has dropped ~41% since the last unlock… https://t.co/yOrJaOFCus pic.twitter.com/JVd7IVd8he
— Spot On Chain (@spotonchain) April 16, 2024
Spot On Chain noted that Blur will deposit the unlocked tokens to Coinbase (NASDAQ:COIN) for distribution. The platform highlighted that Blur has unlocked 655 million BLUR, worth $259 million, or 2…
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