- Blur’s entrance into the NFT house led to a dominant market presence with over 50% buying and selling quantity.
- The platform’s Complete Worth Locked (TVL) skilled progress.
With the grand arrival of Blur Lend (Mix), Blur [BLUR] has gracefully stepped into the realm of Decentralized Finance (DeFi) by leveraging NFTs. Since its introduction, this groundbreaking platform has undeniably established its dominance within the lending house.
Sensible or not, right here’s BLUR’s market cap in BTC’s phrases
Blur takes a big slice of NFT pie
Messari printed a put up highlighting Blur’s exceptional progress throughout the NFT market on 18 June. The report emphasised the platform’s astounding achievements, similar to capturing over 50% of the NFT buying and selling quantity and securing a considerable consumer base.
Inside a brief span of time, @blur_io managed to safe greater than 50% of the #NFT buying and selling quantity and a big share of the general consumer base.
To capitalize on its momentum, Blur has strategically launched Mix , its new NFT lending platform. pic.twitter.com/GHWRbkMH8D
— Messari (@MessariCrypto) June 18, 2023
Notably, the launch of Mix in Could additional fueled the platform’s progress, attracting a substantial inflow of quantity.
Mix to this point
As per Dune Analytics, Mix‘s launch has resulted within the platform’s dominance within the NFT lending house. An evaluation of the quantity throughout numerous NFT lending platforms demonstrated that it swiftly claimed the highest spot from inception.
Moreover, the preliminary recorded quantity surpassed a formidable $50 million, whereas the second-highest quantity stood at roughly $2 million. As of this writing, the quantity had soared to over $169 million, with the closest competitor trailing at round $1.8 million.
To place this into perspective, Blur’s volume stood at roughly 7,387 Ether [ETH], equal to virtually $13 million, at press time.
Inspecting the Complete Worth Locked (TVL) of Blur on DefiLlama revealed a notable enhance since its preliminary launch. Nevertheless, current information indicated a slight decline in its trajectory. As of this writing, the TVL stood at roughly $148.6 million, with a discernible dip noticed.
Moreover, when contemplating the TVL particularly associated to Mix, there was a transparent upward pattern since its launch. As of this writing, there have been nonetheless indications of this upward trajectory, with the TVL reaching round $43 million.
BLUR value pattern
As of this writing, BLUR was experiencing a revenue of over 1% following a decline within the earlier buying and selling interval. Its press time buying and selling value was roughly $0.35, and it confronted fast resistance across the $0.4 mark, represented by its brief Transferring Common (yellow line).
Supply: TradingView
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Notably, on 15 and 16 June, the token noticed important spikes in worth, rising by over 7% and 10%, respectively, which helped it get better from the oversold territory. The Relative Energy Index (RSI) line hovered round 40 as of this writing.