BLUR Token Unlocking Event Sparks Excitement as Whales Show Interest

• Lookonchain shares insights about whales’ attitude towards BLUR ahead of its token unlocking event.
• BLUR is currently priced at $0.3231 after experiencing a surge of 1.27% in one hour.
• Indicators and upcoming economical events could affect BLUR’s market positively.

The web3 analytics platform, Lookonchain shared its insights about the whales and SmartMoney’s current attitude towards BLUR ahead of its token unlocking which is happening tomorrow. The next token unlocking event called ‘Cliff’ will release approximately 196 million BLUR, which is 40% of the total circulating supply.

Among the 196 million BLUR, 115.68 million BLUR will be unlocked to the past and future core contributors. Meanwhile, 75.4 million BLUR and 4.9 million BLUR will be unlocked to investors and advisors.

Lookonchain observed that one whale ‘0x06cD’ withdrew a total of 10.5 million BLUR from OKX back in April and recently conducted a withdrawal two days back also. The web3 analytics platform also noted that the whale ‘0x06cD’ currently holds 13.5 million BLUR.

Moreover, Lookonchain mentioned that ‘oilysirs.eth’ spent 20 ETH to buy 100K BLUR at $0.35 two days ago. The web3 analytics platform also reminded the community that oilysirs.eth made 455ETH on BLUR before. This could be an indication the whale is expecting a surge with BLUR’s token unlocking event.

Meanwhile, one address ‘0xfcef’ sold 1.9 million BLUR at $0.31. However, Lookonchain also explained that the ‘0xfcef’ received BLUR from SmartMoney earlier. The web3 data analytics platform also highlighted that SmartMoney made $587K earlier and usually buys at low prices and sells high.  

Although some traders and whales are expecting a surge after the token unlocking event, BLUR faced a 24.07% fall in seven days leading it into the red zone. BLUR is currently priced at $0.3231 after experiencing a surge of 1.27% in one hour, at the reported time.

The BLUR/USD 2-hour chart shows that BLUR is currently facing a long-term bearish trend as it is trading below the 200-day MA. The 200MA indicator also acts as a weak resistance for BLUR as many candlesticks wicks have touched this level when it was a Support.

Moreover, BLUR needs to experience a 37.87% spike to reach the current resistance level. The token unlocking event, the release of the CPI data and traders’ demand could drive BLUR’s price upwards.

The RSI, valued at 43.56, is currently above the SMA, which could be considered as a bullish signal. Moreover, the RVGI is currently pointed upwards and may form a bullish crossover, which would further confirm BLUR’s uptrend.

Ultimately, traders need to closely observe BLUR’s movement tomorrow as the upcoming events could affect the altcoin’s trend.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.