Recently, a significant amount of 33.42 million $BLUR tokens, valued at approximately $22.3 million, were unlocked from the lockup contract. These tokens are set to be transferred to Coinbase for distribution. 

This latest unlock brings the total unlocked $BLUR tokens since June 2023 to 616.8 million, now valued at $411 million.

Blur is currently in the second year of its four-year vesting schedule, characterized by a lower unlock rate compared to previous periods.

Notably, in 2024 alone, Blur has undergone three significant unlock events. In January, 49.46 million BLUR tokens were unlocked, amounting to around $32.55 million. 

33.42M $BLUR ($22.3M) was unlocked from the lockup contract 5hrs ago and will be moved to #Coinbase for distribution.

In total, 616.8M $BLUR (now $411M) have been unlocked since Jun 2023.#Blur is now in Year 2 of the 4-year vesting schedule with a lower unlock rate.

Follow… https://t.co/1Hdx8knGyv pic.twitter.com/gluqT1v4dK

— Spot On Chain (@spotonchain) March 15, 2024

February witnessed the unlocking of 48.66 million BLUR tokens, valued at approximately $35.56 million. March saw another substantial unlock of 33.42 million BLUR tokens, valued at approximately $22.3 million.

Despite the growing attention received by Blur’s NFT marketplace over time, the token has experienced a decline in value. Over the past month, $BLUR has lost 14% of its value, with a further 6% decrease observed in the past 24 hours. 

This downward trend in value contrasts with the increasing interest in Blur’s NFT offerings, suggesting that market dynamics and investor sentiment are influencing the token’s performance.

As Blur progresses through its vesting schedule and more tokens become unlocked, investors closely monitor the impact on market dynamics and token value. The ongoing evolution of Blur’s ecosystem, particularly its NFT marketplace, presents opportunities and challenges for stakeholders navigating the cryptocurrency landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: khai9000/123RF // Image Effects by Colorcinch

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