Journalist
Posted:
- Over 300 million Blur tokens were airdropped to conclude season two.
- BLUR has surged by over 20% in the aftermath of the airdrop.
Blur [BLUR] has announced its token airdrop to mark the conclusion of its second season. Following the airdrop, there has been notable on-chain activity, with an increased flow of tokens onto various exchanges.
Blur announces token airdrop
Blur has officially concluded its second season, allowing users to claim the airdropped tokens distributed on the 21st of November. According to Spot On Chain, around 307.6 million tokens, worth around $97 million, were allocated for the airdrop.
At press time, there were about 45.1 million tokens, with a total value of around $18.6 million, still available for claiming.
Millions of BLUR move to exchanges
Spot On Chain revealed that recent recipients of the airdropped Blur token have transferred some of their tokens to exchanges. Specifically, an address that received around 7.9 million tokens valued at around $2.5 million moved them to the OKX exchange.
Another notable address transferred around 4.48 million tokens, worth around $1.6 million, to an exchange. These two addresses collectively moved over 12 million tokens, with a total value of over $4 million, to various exchanges.
How the airdrop impacted exchange flow
According to AMBCrypto’s analysis of Blur’s exchange flow, a significant event occurred on the 21st of November. The analysis of exchange inflow data revealed the highest volume in over four months.
The chart showed a substantial deposit of over 85 million tokens into exchanges.
This suggested that many token holders were inclined to sell, potentially influenced by the ongoing airdrop. As of press time, the inflow volume had decreased to around 14 million.
Source: Santiment
On the other hand, the outflow chart also showed notable activity on the 21st of November. The chart showed a volume of over 63 million tokens moving out of exchanges. While this outflow was considerable, it was smaller than the influx.
At the time of writing, the outflow had reduced to over 2 million tokens. Both metrics collectively suggested that the number of sellers outweighed that of hodlers.
Blur exchange supply grows
The exchange supply metric for Blur was influenced by both the airdrop and the associated developments in exchange flow. Also, analysis revealed a noticeable increase on the 21st of November, signifying an increase in the number of tokens present on exchanges.
By the 21st of November, the exchange supply had risen to over 185 million, from around 183 million. Although a slight decline has been observed as of this writing, the exchange supply has maintained the range of 185 million.
Source: Santiment
How much are 1,10,100 BLURs worth today?
BLUR sees double-digit moves
Despite the substantial inflow of tokens into exchanges, Blur has experienced a positive price trend. The chart showed a gain of over 7% in value by the close of trading on the 21st of November.
As of this writing, the token was trading with an additional increase of over 20%, reaching around $0.4.
Source: TradingView
