With Binance Announcement, Whales Run To This Altcoin!

Leading crypto exchange and branch Binance Futures has announced the launch of USDⓈ-M BLUR. According to Binance’s statement, trading leverage will be up to 20x. Meanwhile, the whales added 2 million BLUR to their wallets.

Binance launches BLUR/USDT-M perpetual contracts

Binance Futures, the branch of Binance, the world’s largest cryptocurrency exchange, announced the launch of USDⓈ-M BLUR, which will take place on April 28. In the blog post published by Binance, it was stated that the leverage for this would be up to 20x. In this context, on-chain tracking platform Wu Blockchain shared the following statement on its Twitter account:

Binance Futures will launch the USDⓈ-M BLUR perpetual contract with up to 20x leverage at 2023-04-28 12:00 (UTC). However, Binance has yet to list the BLUR spot.

BLUR price jumps 10% after Binance announcement

USDⓈ margin contracts will be executed in USDT or BUSD. In this case, it’s a first as BUSD has been gradually pushed out of circulation and use. Unlike regular futures contracts, perpetual contracts do not have an expiration date. Therefore, traders have the opportunity to hold them for as long as they want. BLUR, the native token of the recently popular NFT platform Blur, reacted positively to this news. As Cryptokoin.com reported, the price of the token increased by about 10% after this development.

BLUR daily price chart / Source: CoinMarketCap

At press time, BLUR is changing hands at $0.6975 per token, according to data provided by CoinMarketCap.

Whales bought 2 million BLUR

Meanwhile, crypto tracker Lookonchain reported that three ETH wallets have purchased 2 million units of these tokens at a price of $0.636. This development probably contributed to the rise in the price of BLUR. Whales purchased BLUR for less than 690 ETH (equivalent to about $1.28 million USD), which they pulled on April 15 after the Shapella upgrade in Ethereum was integrated. Lookonchain shared the following on the subject:

The price of BLUR has increased by about 10% with the announcement of the launch of BLUR perpetual on Binance. We noticed that 3 ETH withdrawals totaled 686 ETH ($1.28M) on April 15th, then used all the funds to buy 2M BLUR (currently $1.42M) today. The average price was $0.636.

BLUR is the native governance token of Blur, a unique NFT marketplace and aggregator platform that offers advanced features such as real-time price feeds, portfolio management, and multi-marketplace Non Fungible Token (NFT) comparisons. It claims to have faster NFT scans and a more intuitive interface compared to other similar platforms.