The cryptocurrency market has been busy lately with the drama revolving around Binance. After Changpeng Zhao’s resignation, the stock exchange continues its image recovery efforts. In addition, it takes some steps by taking into account the demands of its users. In a recent development, the world’s largest cryptocurrency exchange announced that it will add the native token of Blur, the NFT market, to its list in 3 transaction parities. One of these trading pairs will be BLUR/TRY. Following this news, the altcoin price made a strong move northward.
Binance announced that it would add it to its list, BLUR price skyrocketed!
As you follow on Kriptokoin.com, the market is showing signs of recovery after the recent shock waves. While the leading cryptocurrency Bitcoin rose above 37 thousand dollars, the leading altcoin Ethereum regained 2 thousand dollars. Amid this positive atmosphere, Binance gave the good news of BLUR to its customers. According to its announcement, Binance will list Blur (BLUR) with a seed tag applied. In this context, the giant crypto exchange made the following statement:
Dear Binance users. Binance will list Blur (BLUR) and make it available for trading on November 24 at 12:00 UTC for the following spot trading pairs. New Spot Trading parities: BLUR/BTC, BLUR/USDT and BLUR/TRY. Users can now start depositing BLUR in preparation for trading. Withdrawals for BLUR will open on November 25 at 09:00 CET. BLUR Listing Fee: 0 BNB.
#Binance will list @blur_io $BLUR with Seed Tag applied.
➡️ https://t.co/Luno3JbCC8 pic.twitter.com/G9qSkUECSV
— Binance (@binance) November 24, 2023
Following the Binance listing news, BLUR price made a strong move north. The token suddenly jumped above $0.64 from $0.49 levels during the day. Although it later lost some altitude, the altcoin continues to remain at high levels. At the time of writing, BLUR was trading at $0.6133, up 26% on a daily basis.
BLUR daily price chart. Source: CoinMarketCapExchange to add new isolated margin pair BLUR/USDT
In addition, Binance stated that it will add BLUR as a new borrowable asset with this new margin parity on Isolated Margin within 48 hours starting at 12:00 UTC on November 24. In this regard, he noted that the new isolated margin parity will be BLUR/USDT. Binance also made the following warnings about listing:
The seed tag will be applied to BLUR. TRY is a fiat currency and does not represent other cryptocurrencies. The withdrawal open time is an estimated time for users’ reference. Users can view the actual status of their withdrawal on the withdrawal page.
Binance says listing costs 0 BNB in fees
The listing comes shortly after Blur founder Tieshun Roquerre announced that he had raised $40 million to contribute to the Blur ecosystem. Binance said in the announcement that listing costs 0 BNB in fees. However, it is unclear whether proceeds from the $40 million fund were used for the listing.
Additionally, the Blur team has also launched its own layer-2 network called Blast to reduce transaction costs for digital collectibles and generate returns through Ethereum staking. Still, the crypto community has already noticed a few issues with Blast. According to Polygon engineer Jarrod Watts, all five signer wallets of Blast’s multi-signature agreement are new unknown entities. This makes it risky for users to “send Blast funds in the current situation.”
So while I personally think it's risky to send Blast funds in its current state, ultimately it's your decision and I'm just here to share what I learned.
I still wish the best for the Blast team and everyone who has sent money across already.
(23/24)
— Jarrod Watts (@jarrodWattsDev) November 23, 2023
43852
