Journalist
Posted:
- Over 300 million Blur tokens were dropped to conclude season two.
- BLUR is up more than 20% in the wake of the airdrop.
Fade [BLUR] has announced a symbolic airdrop to conclude its second season. Following the airdrop, there has been notable activity on the chain, with an increased flow of tokens to various exchanges.
Blur announces symbolic airdrop
Fade has officially concluded its second season, giving users the dropped from the sky tokens distributed on November 21. According to Spot On Chain, approximately 307.6 million tokens, worth approximately $97 million, were allocated for the airdrop.
At the time of writing, approximately 45.1 million tokens, with a total value of approximately $18.6 million, were still available to claim.
Millions of BLUR move to stock exchanges
Spot on chain revealed that recent receivers have been air-dropped Fade token have transferred some of their tokens to exchanges. Specifically, an address that received approximately 7.9 million tokens worth approximately $2.5 million moved them to the OKX exchange.
Another notable address transferred about 4.48 million tokens, worth about $1.6 million, to an exchange. These two addresses have collectively moved more than 12 million tokens, with a total value of more than $4 million, to various exchanges.
How the air drop affected the exchange flow
According to AMBCrypto’s analysis of Fade exchange flow, an important event took place on November 21. The analysis of the data on inflows on the stock exchange revealed the highest volume in more than four months.
The graph showed a significant deposit of over 85 million tokens on exchanges.
This suggested that many token holders were inclined to sell, possibly influenced by the ongoing airdrop. At the time of writing, the inflow volume had fallen to approximately 14 million.
Source: Santiment
On the other hand, the outflow graph also showed notable activity on November 21. The graph showed a volume of more than 63 million tokens disappearing from the exchanges. Although this outflow was significant, it was smaller than the inflow.
At the time of writing, the outflow had been reduced to over 2 million tokens. Both statistics together suggested that the number of sellers exceeded that of hodlers.
The range of Blur exchanges is growing
The stock market supply statistic for Fade was influenced by both the air drop and the associated developments in the exchange flow. The analysis also showed a noticeable increase on November 21, which means an increase in the number of tokens present on the exchanges.
On November 21, the exchange supply had increased from approximately 183 million to more than 185 million. Although a slight decline has been observed at the time of writing, the supply on the foreign exchange market remained around 185 million.
Source: Santiment
How many Worth 1,10,100 BLURs today?
BLUR sees moves in double digits
Despite the significant influx of tokens on exchanges, Fade has experienced a positive price development. The chart showed an increase in value of more than 7% at the end of trading on November 21.
At the time of writing, the token was trading with an additional increase of over 20%, to around $0.4.
Source: TradingView
