• Blur, a non-fungible token (NFT) marketplace launched its native token this week.
• The coin reached a high of $5.02 per token but has since dropped more than 85% against the U.S. dollar.
• Airdrops of the market’s token called LOOKS have also taken place, but volumes have subsided since then.
Blur Marketplace Launches Native Token
The Blur non-fungible token (NFT) marketplace launched its native token this week, and users who were awarded token allotments received “care packages”. Blur tokens began trading at noon on Feb 14, reaching a high of $5.02 per token.
BLUR Price Drops 85% in a Matter of Hours
However, the coin has since dropped more than 85% against the U.S. dollar by 2:10 p.m., with BLUR having a market capitalization of approximately $176 million and global trade volume of about $12 million at that time point, with 8,798 unique addresses holding BLUR tokens and 18,900 transfers having taken place. By 2:33 p.m., BLUR rebounded and hit the $0