- BLUR token unlock would put 47.96 million tokens on the market.
- BLUR continued to dominate the NFT sector by volume.
Fade[BLUR]’s remarkable advancement in the NFT marketplace industry has received huge admiration from NFT holders and investors in recent months. In turn, the impressive growth of the market has significantly increased interest in the BLUR token, attracting a larger user base.
Is your wallet green? Check out the Blur Profit Calculator
However, things may get worse for the BLUR token in the future. According to EmberCN data, 47.96 million BLUR tokens were moved to Coinbase Prime at the time of writing after being unlocked this month.
Since June 15, a total of 239 million BLUR tokens have been unlocked. Of these, 140 million BLUR tokens were sent from Coinbase Prime to various centralized cryptocurrency exchanges (CEXs) in the past month.
Source: Sentiment
Weigh the pros and cons
The token unlock has both positive and negative implications for BLUR. On the plus side, it brings more liquidity to the market as 47.96 million BLUR tokens are made available on Coinbase Prime, opening up more trading opportunities for investors.
In addition, BLUR’s reach expands to a larger market by being listed on a major exchange such as Coinbase Prime, potentially attracting new investors and increasing the token’s visibility.
However, there can be negative consequences. The sudden influx of unlocked tokens can lead to increased price volatility. Sharp fluctuations in the value of BLUR can occur.
In addition, the transfer of 140 million BLUR tokens from Coinbase Prime to other exchanges could create selling pressure. This could potentially have a negative impact on the price of the token. Finally, large unlocks of tokens can create uncertainty among investors about the future value of the token. It can lead to hesitation to buy or hold BLUR.
BLUE sight
At the time of writing, BLUR was trading at $0.3362, having dropped significantly in the past few days. Along with the price, BLUR’s traded volume also declined.
Source: Sentiment
Realistic or not, here is BLUR’s market cap in terms of BTC
Despite the market volatility, the BLUR market remained resilient. According to data from Dune Analytis, BLUR had the largest market share in terms of the number of NFTs traded on the network. At the time of writing, 69.4% of the market share was owned by BLUR.
While BLUR dominated in terms of volume, it lagged OpenSea in terms of transactions made on the protocol. 
Source: Dune analysis