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NFT Platform Blur's Token Jumps 22% Amid Binance Listing and Blast Optimism
A Binance listing and optimism around Blur's sister protocol, Blast, has spurred the move.
Updated Mar 8, 2024, 5:35 p.m. Published Nov 24, 2023, 4:41 p.m.
BLUR, the native token of non-fungible token (NFT) platform Blur, surged by 22% on Friday after being listed on Binance's convert feature.
The convert feature is aimed at Binance's retail customers. It allows customers to buy and sell assets without going through a traditional order book.
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The token rose from $0.55 to as high as $0.64 after the listing, compounding an uptrend that has seen its value double in the past week, according to CoinMarketCap.
Friday's move comes alongside bitcoin [BTC] hitting its highest point since May 2022 as the broader cryptocurrency market continues its rally.
Blur has performed particularly well following the launch of Blast, a layer 2 network developed by the same people who built Blur.
After going live earlier this week, Blast has received over $400 million in deposits and will issue an airdrop in May.
Trading volume on BLUR trading pairs is just shy of $1 billion over the past 24 hours as speculators attempt to cash in on the hype surrounding Blast.
Blast has received criticism from some parts of the crypto community for its referral scheme, which some say resembles a pyramid scheme.
Read more: NFT Marketplace Blur Launches Blend, a Peer-to-Peer Lending Platform
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