Tomorrow’s significant event for BLUR has the crypto community buzzing as 196 million tokens, worth $62.3M and equivalent to approximately 40% of its circulating supply, will be unlocked. This event has sparked discussions regarding potential impacts on market sentiment and the buying or selling behavior of SmartMoney and whales.
Digging deeper into the details of the token unlock, the distribution of BLUR tokens is set to be as follows: 115.68 million ($36.8 million) to past and future core contributors, 75.4 million ($24 million) to investors, and 4.9 million ($1.56 million) to advisors. Notably, BLUR has secured a $14 million investment in the past year, with prominent investors such as Paradigm, Punk6529, CozomoMedici, DHOF, Krybharat, and Zeneca. Additionally, the project closed a funding round between $15 million and $30 million in February, bringing its valuation to a hefty $1 billion.
The total tokens allocated to investors currently amount to 565,633,826 $BLUR ($181 million), according to Token Economics data. Examining whale activity, the 8th largest holder of BLUR, “0x06cD,” has withdrawn 10.5 million tokens ($3.36 million) from OKX since April 4th, with the most recent withdrawal happening just two days ago. The address now holds 13.5 million tokens ($4.3 million).
Analyzed trading activity reveals that oilysirs.eth, a well-known trader, made a profitable move by purchasing 100,000 BLUR at $0.35, investing 20 ETH ($35,000) and then gaining 455 ETH ($792,000) from BLUR’s price appreciation. Also, oilysirs.eth managed to buy 1 million tokens at $0.46 on February 15th, which were later sold for 757 ETH ($1.26 million) at a price of $1.23 on February 16th and 19th. In another instance, address “0xfcef” removed 1.9 million BLUR from liquidity and sold all tokens at $0.31 after receiving them from SmartMoney address “0x8129.” This SmartMoney has a history of making approximately 587,000 from such trades, buying low and selling high consistently.
In the past 24 hours, the price of BLUR has dipped by 0.89%, settling at $0.3225. This unlocking of 196 million tokens, accounting for roughly 40% of the circulating supply, brings a mix of anticipation and concerns among market participants. As SmartMoney and whales navigate the situation, it remains uncertain whether the unlock event will lead to a bullish or bearish effect on BLUR’s price. It is crucial for any investor to conduct thorough market research before allocating funds into cryptocurrencies, given the personal opinions and market conditions presented in this analysis.
Source: Coingape
