BLUR plummets 84% following 360M token airdrop

On the NFT marketplace Blur, the native BLUR token dropped from a high of $5 to $0.78, recording a sharp drop of over 84% shortly after the airdrop distribution started.

BLUR Airdrops and Tokenomics

About 146,823 unique users have joined and traded $1.2 billion worth of NFTs (excluding Washtrading) since the NFT Marketplace launched about four months ago.

February 14 Blur announced We plan to airdrop approximately 360 million BLUR tokens to early adopters.

Blur revealed that of its 3 billion total supply, 51% is allocated to the community, 29% to key contributors and 19% to investors.

Of the community’s allotment, approximately 360 million BLUR have been unlocked for airdrop distribution to early adopters.

Available data Early adopters, including traders, care package owners and creators, claimed up to 86% of the airdrop.

However, according to Coingecko, trading activity following the airdrop delivery has caused the price of BLUR to drop by more than 84% over the past 24 hours. data.

As of press time, BLUR is trading at $0.78 It has a market capitalization of $276 million.