$BLUR Faces Bearish Trends Amidst Crypto Market Rally

$BLUR Faces Bearish Trends Amidst Crypto Market Rally

Despite a week marked by bullish movements across the cryptocurrency market, the native token of the Ethereum-based Non-Fungible Token (NFT) marketplace, $BLUR, failed to capitalize on the rally.

Instead, it experienced a downtrend, trading on the downside throughout the week and witnessing a 10% decrease in its value.

Today, an on-chain report shed light on significant activity involving a whale or institution holding $DYDX and $BLUR tokens worth US$28.54 million.

The entity recharged 1.5 million BLUR to Coinbase, translating to a value of US$1.07 million, just a few hours ago.

两小时前,持有价值 2,854 万美金 $DYDX$BLUR 的巨鲸 / 机构向 #Coinbase 充值 150 万枚 BLUR,价值 107 万美金

过去三周,该地址已累计向交易所转移 330 万枚 BLUR(价值 219 万美金),若全部卖出将获利 66 万美金;剩余 2388 万枚 BLUR 仍浮盈 593 万美金

钱包地址 https://t.co/7FTiMt4EVW pic.twitter.com/PvfjAiz6eo

— Ai 姨 (@ai_9684xtpa) March 2, 2024

Over the past three weeks, this address has transferred a total of 3.3 million BLUR tokens, valued at US$2.19 million, to the exchange.

Should all these tokens be sold, it would result in a profit of US$660,000.

Even if the remaining 23.88 million BLUR tokens were sold, a profit of US$5.93 million would still be realized.

Massive Volume Token Movement Suggest Strategic Whale Decision Making

The movement of such substantial volumes of $BLUR tokens to Coinbase suggests strategic decision-making by the whale or institution, possibly indicating a shift in inve ..

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