a month ago 2 min read

Why Price of Blur (BLUR) Has Increased 15% During the Last Day

Table of Contents

Throughout the last 24 hours, the value of Blur token has increased by 15%. The token's price increased 43% over the weekend, and it is currently displaying a distinctive positive indication.

Price Explosion Due To Recent Development

Blur has established itself as a serious rival to the well-liked NFT market OpenSea. Its recent developments toward solidifying its position in the NFT industry can be linked to its recent significant price movement.

Blur said earlier this week that it would alter the royalties that NFT producers on its platform are entitled to. The NFT platform will levy full royalties on collections that obstruct trading on Opensea as one of these modifications.

This means that if they choose to prevent their works from being traded on the Opensea marketplace, NFT producers can set a royalty rate of their choosing. The press statement claims that OpeanSea's competition forced this decision to be made. When it discovers transactions on other platforms, OpenSea uses a similar technique that instantly sets royalties as optional.

Although while the authors insist that preventing Blur transactions is not their primary purpose, it was further noted that OpenSea gains from this practice. By offering full royalties on collections, Blur hopes to draw more users to its platforms.

Creators who sell their NFTs on the secondary market receive royalties as payment. In contrast to Opensea, whose royalties can range from 5 to 10% but can only be accumulated from sales on its platform, Blur has a minimum fee of 0.5% and allows creators to choose larger royalties.

Blur's Popularity is Still Rising

Since its debut, Blur has grown significantly as a result of the migration of numerous NFT authors and traders to its platform. The NFT market said on February 14 that NFTs worth more than $1.2 billion have been exchanged on its platform.

The just finished airdrop campaign was one of the motivating factors. The native token that Blur airdropped allows users to take part in the protocol's governance. This action sparked the enormous buzz that helped the NFT market take off.

The non-fungible token (NFT) exchange Blur is supported by the investment firm Paradigm. It focuses on web3 projects, a business model that suggests users own the material and make money off of it. It is seen by many as one of the best candidates to take on OpenSea, the dominant player in the industry.

Pricing Analysis for Blur

Since its launch, when the airdrop caused the token's price to fall from $5 to $0.60, Blur has steadily recovered. It is currently at $1.30 and is heading toward its next resistance level of $1.5. Also, in the last 24 hours, its daily trading volume has been averaging $500 million.

Great! You’ve successfully signed up.
Welcome back! You've successfully signed in.
You've successfully subscribed to Coin Aquarium.
Your link has expired.
Success! Check your email for magic link to sign-in.
Success! Your billing info has been updated.
Your billing was not updated.