Journalist
Posted:
- Wintermute moved 7.3 million Blur tokens to two exchanges.
- BLUR has lost more than 2% in value after gaining almost 4% in the previous trading session.
Wintermute recently transferred a significant portion of its Blur [BLUR] tokens for various cryptocurrency exchanges. How has this action affected the token’s performance, and what has been the recent price trend?
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Millions of BLURs have ended up on the stock exchange
From etherscan, Wintermute recently transferred 7 million tokens to Kraken and 300,000 tokens to Coinbase. It is worth noting that the total value of the 7.3 million tokens moved to Kraken was approximately $1.3 million.
Furthermore, the data also indicated that Wintermute had deposited a total of 46.6 million Blur tokens on exchanges in the past 30 days. The tokens had a combined value of more than $8.3 million.
The exchange current shows peaks
According to Santiment’s exchange flow metric, on September 21, there was a notable increase in both inflows and outflows of Blur tokens. The inflow chart indicated that more than 7.3 million tokens were transferred to various exchanges, signifying a significant increase in the potential sell-off.
This influx of tokens, observed on September 21, was the highest of the entire month, with the figure closest to around 6.8 million tokens on September 17.
Source: Santiment
Furthermore, token outflows also peaked on the same day as inflows. The outflow diagram showed that a total of 7.4 million tokens left the exchanges.
This was the highest outflow recorded during the month, with the second highest on September 17, when around 6.8 million tokens were withdrawn from exchanges.
Four months below the neutral line
Over the past six days, Blur’s daily timetable has shown a pattern of alternating gains and losses. On September 21, it closed with a gain of 3.98%, reaching a trading price of around $0.18.
However, at the time of writing, the stock was trading around $0.17, reflecting a drop of over 2%.
Source: TradingView
How much are 1,10,100 BLURs worth today?
This lackluster performance has left Blur firmly entrenched in a bearish trend; a fact highlighted by the Relative Strength Index (RSI). The RSI has remained below the neutral line for more than four months, underscoring the extended duration of its bearish trend.
Additionally, according to Blur data, there has been a slight decline in Blur’s Total Value Locked (TVL). DefiLlama. According to this report, TVL was approximately $87 million, down from the more than $89 million recorded on September 21.
