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- BLUR accounts for 78% of the total NFT market share volume. It has a higher number of average daily trades compared to Opensea.
- Technical indicators indicate a consolidation in the price trend. It is up by 8% in the ETH pair.
BLUR is a unique NFT marketplace. It is an Ethereum-based platform that has raised vast amounts from prominent investors. After the Feb 2023 airdrop, BLUR price went up to $5 and dropped to $1 on the same day. BLUR has a total of 146,823 users with a 0% marketplace fee. It has a total of 42,298 holders at the time of writing. BLUR observes approximately 78% of the total volume in the NFT market share. Meanwhile, the number of traders are still high on OpenSea. The daily users in BLUR are approximately 5,598, while on OpenSea, it is around 12,849.
BLUR token has a total supply of 3 billion, and 442 million are circulating in the market. It has a market cap of $346 Million and is ranked 114th in the crypto-verse. The volume of the asset price has seen a jump of 72% in the intraday session. The volume-to-market cap ratio of the asset price hints toward a consolidated trend in price.
BLUR Bulls are Looking For an Upside
BLUR has been observing a weak upside trend in the daily chart. It is trading near the value of $0.79, with a gain of 3.5% in the intraday session. The upside trend of the asset price can see a halt near the value of $1. Meanwhile, the asset price support can be near $0.65. On the 4-hour chart, BLUR has traded above the 50 and 100 Daily Moving Averages. Meanwhile, 50 DMA can support the asset price in case of a downside trend.
The MACD hints toward a consolidated trend in the asset price. Bars of Histograms are also favouring a weak consolidated move.
Summary
BLUR NFT marketplace share saw a tremendous rise over the past few months. BLUR’s price trend is consolidating but could move to a new high.
Technical Levels
Major Support:$0.65
Major Resistance:$1
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
