Blur's airdrop aftermath: Token transfers and exchange dynamics

New Airdrop of Blur Tokens Impacts Exchange Flow

As we approach the end of the year, we have seen a major development in the world of cryptocurrency. Blur [BLUR] has announced a token airdrop to mark the conclusion of its second season. This airdrop has led to a surge in on-chain activity, with a significant increase in the flow of tokens onto various exchanges. Let’s take a closer look at the impact of this airdrop on Blur and the cryptocurrency market as a whole.

## Blur announces token airdrop

Blur concluded its second season and allowed users to claim the airdropped tokens on November 21st. Approximately 307.6 million tokens, worth around $97 million, were allocated for the airdrop. As of now, there are still around 45.1 million tokens, valued at around $18.6 million, available for claiming. This airdrop has led to a notable increase in Blur’s on-chain activity, with more tokens being moved onto exchanges.

## Millions of BLUR move to exchanges

Following the airdrop, recipients have transferred millions of tokens to various exchanges. This includes addresses that have moved over 12 million tokens, totaling over $4 million, to different exchanges. This significant transfer of tokens indicates a potential impact on the market and Blur’s valuation.

## How the airdrop impacted exchange flow

Analysts have observed a substantial increase in the volume of tokens being deposited into exchanges following the airdrop. This suggests that many token holders were inclined to sell, potentially influenced by the ongoing airdrop. On the other hand, there was also a notable outflow of tokens from exchanges, indicating a complex market dynamic at play.

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## Blur exchange supply grows

As a result of the airdrop and the associated exchange flow, there has been a noticeable increase in the number of tokens present on exchanges. The exchange supply metric for Blur has seen a rise, reaching over 185 million tokens. This increase in supply could have implications for Blur’s valuation and market performance.

## BLUR sees double-digit moves

Despite the significant exchange activity, Blur has experienced a positive price trend. The token has seen a double-digit increase in value, surging by over 20% after the airdrop. This demonstrates the potential impact of the airdrop on Blur’s market performance and investor sentiment.

In conclusion, the recent airdrop of Blur tokens has had a notable impact on exchange flow and market dynamics. With millions of tokens being transferred to exchanges and an increase in exchange supply, it will be interesting to see how this development shapes the future of Blur and the cryptocurrency market as a whole.

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By Team