BLUR, the original asset of the Non-Fungible Token (NFT) marketplace, is currently the clear market leader in the altcoin market. The token has risen by 21.77% in the last 24 hours to $0.3661, reaching its highest level in a month. According to CoinMarketCap, the latest rise comes in addition to the token’s monthly gain of 116%.
Despite the fervent rise in the price of BLUR, one thing sticks out: the lack of an immediate substantial upgrade that is fueling the buying frenzy that has pushed it trading volume to $526,150,093, up 386% overnight. Given the hazy outlook of its main competition, OpenSea, this lends credence to the idea that buyers are enthusiastic.
One of the most recent signals of trouble for OpenSea is the layoff of 50% of its workers as it seeks ways to preserve its traction. With general NFT trade volume declining, many industry insiders anticipate power will soon shift as BLUR gains popularity with its incentivization strategy.
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When BLUR first appeared, it fascinated consumers since, unlike OpenSea, it offered to share earnings with users. After completing one of the largest airdrop programs earlier this year, traction increased significantly.
Worthy Recovery for BLUR
BLUR’s current growth trend demonstrates its durability as a token with great intentions. After several price drops in recent months, BLUR may finally be making the push to return to profitability for the majority of its subscribers. While the airdrop effort accelerated the outfit’s journey toward decentralization, it also stressed it since most BLUR beneficiaries liquidated their holdings for a profit. BLUR may be making a good move to retest new highs, and present bullish traction may be critical in accomplishing this goal.
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