BLUR Token Holders Cry Foul as Value Tanks Regardless of Ecosystem Development

• BLUR has skilled important bearish stress this yr.
• Blur NFT market not too long ago launched season 4 with a 500 million BLAST allocation.
• The newly launched season will final till June 2025.

BLUR, the native token of the Blur NFT market, has seen a steep decline in worth because the begin of the yr, fueling nervousness amongst traders in regards to the token’s long-term prospects regardless of latest platform developments.

The altcoin reversed its upward development in February after a formidable rally from This autumn 2023, practically erasing all features from the earlier rally as of this writing. Following the worth drop, one BLUR holder, Altcoin Sherpa on X platform expressed remorse for not promoting his holdings in February when the altcoin traded for $0.70.

In the meantime, BLUR’s worth continued to fall regardless of developments inside the father or mother venture’s ecosystem anticipated to extend adoption. As an illustration, the NFT market not too long ago introduced the beginning of season 4, allocating 500 million BLAST tokens for the season. Data on the Blur web site signifies that the newly launched season will final till June 2025.

Notably, Blur added extra actions anticipated to drive adoption, together with incentives that enable market customers to earn factors by bidding, itemizing gross sales, and lending. The factors earned will decide customers’ BLAST token allocation, alongside Blur’s announcement of the launch of the Ethereum L2 native yield and the Fullstack Chain.

Arthur Cheong, founding father of DeFiance Capital, expressed shock at Blast’s absolutely diluted valuation (FDV) of round $2 billion. He famous that given the buying and selling volumes of earlier layer-2 tasks, he had anticipated Blast’s FDV to exceed $5 billion. The DeFiance Chief Funding Officer (CIO) noticed that the period of extremely anticipated tasks launching with FDVs round $20 billion seems to be over.

BLUR traded for $0.2076 as of this writing, in response to knowledge from TradingView, reflecting a 75% drop from its yearly excessive recorded on February 19.