BLUR, the token of the NFT market of the identical title, is exhibiting a worth improve of virtually 20% in the present day. The token’s worth motion comes on the day after the airdrop, by which greater than 300 million BLUR had been distributed. Valued at $1 at first of the distribution, the airdrop of Blur token was bought out because it normally is, and at one level the worth dropped to $0.48.

BLUR: purchase or promote?

Not all main BLUR airdrop recipients bought off their tokens. For instance, of the three largest ones with a mixed drop dimension of 8.67 million BLUR, just one whale bought a portion of 1 million tokens. General, in keeping with Nansen, 24.5% of distributed BLUR has been bought, however this additionally features a share of seven addresses from the highest 20 airdrop recipients.

295M $BLUR (82%) of the 360M $BLUR #airdrop has been claimed thus far.

Listed here are the highest 20 #airdrop recipients.👇

Amongst them, 15 addresses bought $BLUR after receiving the #airdrop, and seven addresses bought all $BLUR.https://t.co/YXBTDPN7WL pic.twitter.com/t83lDKPy1d

— Lookonchain (@lookonchain) February 15, 2023

Massive buyers have additionally been shopping for up BLUR because the airdrop. For instance, in keeping with Lookonchain, one crypto investor purchased greater than one million tokens with a mean buy worth of $0.46. However this case is extra of an exception, with different market members of the same scale making their purchases at round $0.66 per BLUR.

The token is now quoted at $0.8 and has a market capitalization of $286 million. It’s laborious to say what lies forward for BLUR when many of the tokens are nonetheless held by airdrop recipients, which retains strain on the worth.