Whales load up on BLUR after Season 2 airdrop

• BLUR has outperformed different altcoins with 35% upside
• Knowledge reveals elevated whale shopping for after the top of the NFT market’s season 2 airdrop.
• BLUR worth reached a excessive of $0.52, its highest stage since late Might.

Blur (BLUR) was outperforming with an enormous 35% upside on the time of writing. In the meantime, prime cash and tokens within the crypto market continued to grapple with elevated bearish stress following occasions that unfolded round Binance prior to now 24 hours.

Market information reveals BLUR traded to $0.52 on Wednesday, its highest stage since Might 29, 2023. 

However whereas BLUR was 35% up and seeking to prolong good points seen over the past 24 hours, Bitcoin and Ethereum have been -1.1% and +2.8% at $36,560 and $2,034 respectively.

Blur token surges after Season 2 airdrop

Blur’s not too long ago accomplished airdrop appears to be like to have sparked a flurry of shopping for by massive holders. In accordance with on-chain information, there was large whale exercise since Monday when the Blur workforce introduced NFT merchants might start to say season 2 airdrop allocation.

Season 2 is COMPLETE

NFT merchants on Blur and Creators are eligible for the Season 2 airdrop.

You might have 45 days to say your $BLUR ⏰ pic.twitter.com/HrNtpt2t5z

— Blur (@blur_io) November 21, 2023

The airdrop marketing campaign appears to be like to incentivize additional use of the platform, notably after the bear market took a heavy toll on gross sales volumes.

Blur’s open-ended Season 2 airdrop allowed customers to earn factors in direction of an opportunity for BLUR by itemizing, bidding or lending NFTs. Excessive-value trades earned extra and whales are including to the windfall of BLUR tokens acquired within the airdrop by accumulating extra from the open market.

On-chain information tracker Lookonchain revealed earlier at this time that as the worth of BLUR pumped following the airdrop, 19 addresses added 51.3 million BLUR. That was $21 million value of the token bought by prime holders after 10 wallets acquired 85.69 million BLUR value $27.25 million.

Whereas quite a few holders have appeared to money in on the airdrop, its possible whales are going to build up extra. If the worth ticks up additional, bulls may very well be taking a look at a possible retest of April highs of $0.81 and February peak of $1.24.