Will Blur prices take a U-turn after this development

Journalist

Posted: November 30, 2023

• Blur will now be paired with FDUSD.
• Blur has decreased in value by over 23% in the last five days.

Binance recently announced a new trading pair for Blur. Did it express the same level of enthusiasm as it did when it was listed on Binance? Additionally, has the inflow into exchanges decreased following its recent airdrop?

Blur gets a new pair

Binance revealed Blur’s listing slightly over a week ago. On 29th November, the exchange made an additional announcement, specifying that the token would now be paired with a new stablecoin, FDUSD.

This stablecoin, endorsed by the exchange, would serve as the fresh spot trading pair for Blur. 

Essentially, Binance was broadening the range of spot pairing options available for the token. This expansion had the potential to boost trade volume by facilitating more interactions.

The last time there was a Blur-related announcement, the token had responded positively.

Did BLUR react?

Despite the latest announcement from Binance, Blur displayed no notable reaction on the daily timeframe chart.

Over the past five days, it has incurred a loss exceeding 23%. This was a move away from the positive trends observed after the Binance listing announcement.

At the time of this update, Blur was trading with a 2% decrease in value, trading around $0.5.

Source: TradingView

Also, its Relative Strength Index (RSI) showed that it was still in a bull trend, with its line over 60.

However, the short and long moving averages (yellow and blue lines) were below the price trend. This suggests that the current price trend lacks sufficient positivity, potentially indicating a continued decline.

But a reversal in the price trend, coupled with the crossing of moving averages upwards, could signal the beginning of a more robust bull run.

How much are 1,10,100 BLURs worth today

How the exchange flow has trended

An examination of Blur exchange flows reveals a recent stabilization in both inflow and outflow over the past few days. Following the announcement of the airdrop, there was a surge in exchange activity, reaching levels unprecedented in months.

As of this writing, the outflow volume was around 704,000, while the inflow volume was around 734,000. This suggests that the extreme levels of sell-offs or accumulations have subsided, indicating a more balanced market sentiment.

Source: Santiment