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Three Reasons Why Blur Is up 25%

Tue, 06/27/2023 - 08:25
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Godfrey Benjamin
Blur prints emphatic 25% lead in altcoin world today
Three Reasons Why Blur Is up 25%
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The altcoin growth momentum is mixed today as the broader cryptocurrency landscape is mixed with both positive and negative price trends. Of the altcoins making impressive moves today, Blur has taken an emphatic lead after soaring as high as 25% in what can be defined as its biggest price show over the past month. Blur is changing hands at a spot price of $0.429, according to data from CoinMarketCap.

BLUR 1D Chart
BLUR/USD 1D Chart. Source: CoinMarketCap

Three triggers

There is hardly any growth recorded on a digital currency that was not precipitated by some triggers, and for Blur, the apparent surge in daily accumulations represents one prominent push for growth. Blur's trading volume soared as high as 466.87% in the past 24 hours to $97 million.

This growth is unprecedented, and despite being ranked 99th in market capitalization, the trading volume is the 44th biggest in the crypto world today. The Blur trigger is also embodied in the overall outlook of the parent platform as one of the best non-fungible token (NFT) platforms around on the Solana (SOL) blockchain.

Known for offering advanced features and functionalities to serve its users, the Blur marketplace is fast becoming the go-to place for NFT collectors in the Web3.0 space. The role of BLUR as a governance token has also helped expand its utility and boosted its demand.

BLUR Jumps 10% as Binance Launches BLUR/USDT-M Perpetual Contracts

The third obvious trigger for growth is the resurgence in interest in NFTs, a move that the BLUR marketplace has benefited from recently. As a crucial showcase of its growing popularity, the BLUR marketplace recorded its highest Total Value Locked (TVL) last week as a complement to its wide adoption.

Can BLUR sustain this growth?

As it stands, Blur's latest growth rally has helped trigger a positive growth trend in the trailing seven-day period, where it has recorded 27% growth, paring off the losses it has accrued thus far. Most altcoins are defining their own growth as the market is generally favorable, and with more products and new tech enhancements, BLUR may sustain this growth in the near term.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.