Crypto markets are set for a significant event as $62.3M worth of $BLUR, approximately 40% of its circulating supply, is scheduled to be unlocked tomorrow. The current price for BLUR is approximately $0.3252.
This significant development in the BLUR ecosystem comes a few months after the Ethereum-based digital marketplace aggregator, focusing on the NFT market, launched its native token, BLUR, with an airdrop on the Ethereum blockchain on February 14th, Valentine’s Day 2023.
According to data from Token Unlock, the unlocked tokens will be distributed among past and future core contributors, investors, and advisors. Specifically, 115.68 million BLUR ($36.8 million) are earmarked for contributors, 75.4 million BLUR ($24 million) for investors, and 4.9 million BLUR ($1.56 million) for advisors.
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According to the data from Token Unlock,
115,.68M $BLUR(36.8M) will be unlocked to past and future core contributors.
75.4M $BLUR($24M) will be unlocked to investors.
4.9M $BLUR($1.56M) will be unlocked to advisors.https://t.co/cT74A41z2r pic.twitter.com/FXDQFk1c1y
— Lookonchain (@lookonchain) June 13, 2023
Blur, a growing entity in the crypto space, has raised $14 million from investors including Paradigm, Punk6529, CozomoMedici, Dhof, Krybharat, Zeneca, and more. The company also successfully closed a new funding round of between $15 million and $30 million in February, achieving a valuation of $1 billion.
Market activity shows some notable movements leading up to the unlock. Whale “0x06cD” withdrew a total of 10.5M $BLUR from OKX, with the last withdrawal made two days ago, holding 13.5M $BLUR, making them the 8th largest holder.
Meanwhile, oilysirs.eth made significant profits by buying low and selling high, and another address, “0xfcef”, removed 1.9M $BLUR from liquidity and sold all at $0.311.
