Journalist
Posted:
- Blur is now pegged to FDUSD.
- Blur has fallen in value by more than 23% in the past five days.
Binance recently announced a new trading pair for Fade. Did it express the same level of enthusiasm as when it was listed on Binance? Furthermore, has the inflow into the stock exchanges decreased after the recent airdrop?
Blur is getting a new pair
Binance revealed Blur’s listing just over a week ago. On November 29, the exchange made an additional transaction announcementspecifying that the token would now be pegged to a new stablecoin, FDUSD.
This stablecoin, approved by the exchange, would serve as the new spot trading pair for Blur.
Essentially, Binance expanded the range of spot pairing options available for the token. This expansion had the potential to increase trading volume by allowing more interactions.
The last time there was a Blur-related announcement, the token responded positively.
Has BLUR responded?
Despite Binance’s latest announcement, Blur showed no notable reaction on the daily timetable chart.
Over the past five days, the company has suffered a loss of more than 23%. This was a step away from the positive trends observed following the Binance listing announcement.
At the time of this update, Blur was trading down 2% and trading around $0.5.
Source: TradingView
Also, the Relative Strength Index (RSI) showed that it was still in a bull trend, with a line above 60.
However, the short and long moving averages (yellow and blue lines) were below the price development. This suggests that the current price development does not have sufficient positivity, possibly indicating a continued decline.
But a reversal in price trends, coupled with moving averages crossing to the upside, could signal the start of a more robust bull run.
How many Worth 1,10,100 BLURs Today
How the exchange flow has developed
An examination of the Blur alternating currents reveals a recent stabilization of both inflows and outflows over the past few days. Following the airdrop announcement, there was a surge in stock market activity, reaching unprecedented levels in months.
At the time of writing, the outflow volume was approximately 704,000, while the inflow volume was approximately 734,000. This indicates that the extreme levels of sell-off or accumulation have subsided, indicating a more balanced market sentiment.
Source: Santiment