Journalist
Posted:
- More than 19 million BLUR has been moved to the OKX exchange.
- The number of token holders has remained high despite the sell-off.
A significant amount of Fade [BLUR] tokens have been actively traded on exchanges following a recent airdrop. One of the airdrop recipients quickly transferred all the tokens received to an exchange.
Now the question arises: what impact has this move had on the stock market’s balance sheet?
Faded recipient moves tokens to exchange
Recent data provided by Look at chain showed that the second highest recipient of the Blur airdrop successfully transferred all received tokens to an exchange. The wallet in question received a total of 19.9 million tokens, worth approximately $11.8 million.
The tokens were then moved to the OKX exchange, where they were sold at an average price of $0.44. As a result, the address is expected to receive approximately $8.77 million from the token sales.
An important consideration is whether these recent transactions have had an impact on the total number of token holders.
Token holders soar to record highs
AMBCrypto’s analysis of the Fade token holders revealed a notable increase in sentiment following the airdrop. The graph showed that around November 21, the day the airdrop announcement was made, the number of token holders rose to over 44,000.
Before that, the count was about 42,000. According to the latest data, the number of holders has exceeded 47,000, although a slight decline has been observed. This decline can be attributed to significant sell-off that has occurred since the airdrop occurred.
Source: Santiment
Analysis of the historical Blur balance on OKX
An investigation into the historical Fade The balance on OKX revealed a decreasing number of tokens on the exchange. At the peak of token inflows, approximately 159 million tokens were listed on November 21.
Source: Santiment
However, this volume gradually decreased to around 13 million at the time of writing. This trend indicated a reduction in the number of tokens sent to exchanges for sale. Despite the recent volume increase, there has been a general decline.
The sustainability of this volume will become clearer in the coming days, especially after all the airdropped tokens have been claimed.
Read Fade [BLUR] Price prediction 2023-24
Will there be an ARB correction?
Analysis of BLUR’s daily time frame showed a 72% increase since the airdrop announcements and listing on Binance [BNB]. However, there has been a successive decline in value over the past two days.
At the close of trading on November 25, there was a decline of more than 7%. At the time of writing, it had fallen further, albeit less than 1%, with the token trading around $0.59.
Source: TradingView