February 20, 2023
By Sharan Kaur Phillora
Rising NFT marketplace Blur held its anticipated BLUR token airdrop last week, and some top traders snagged more than $1 million worth of tokens at the current value. The top trader snagged more than $1.9 million worth of the Ethereum-based governance tokens.
Here’s what we know:
According to public blockchain data curated by Dune, the top claimant in the BLUR airdrop took home over 3.2 million BLUR tokens, valued at about $1.93 million based on the current price of about $0.60 per token via CoinGecko.
Blockworks Research analyst Spencer Hughes said the airdrop caused “a very eventful day on Ethereum, sending gas prices towards nearly 1500 GWEI.” Traders were able to sell BLUR for $5 a token, according to Hughes — a ten-fold multiple on its $0.50 on-chain price.
Top claimants in the Blur airdrop include well-known collectors and social media personalities, including the pseudonymous Machi Big Brother (almost 1.85 million BLUR, or $1.1 million worth), Keungz (610K BLUR, or $368,000 worth), and major Bored Ape Yacht Club trader Franklin (540K BLUR, or $326,000 worth).
While BLUR shot as high as $5.02 per token when it first hit the market last Tuesday, it fell sharply later by 88% from that short-lived peak. So the big question is whether the platform can sustain its high trading volumes.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
