BLUR Token Skyrockets, Becoming a Top Gainer as Number of Holders Increases

The native utility token of the leading non-fungible token (NFT) marketplace, Blur (BLUR), has experienced a significant surge in the past 24 hours. This sudden increase has propelled BLUR to the top spot among the top 100 cryptocurrencies.

BLUR Token Skyrockets, Becoming a Top Gainer as Number of Holders Increases

The token’s value has risen by 22.5% in a day, catapulting it from the 110th position on CoinMarketCap (CMC) to the 99th. As a result, the market capitalization of BLUR has reached $308 million.

The sudden surge in BLUR’s value is accompanied by an impressive increase in its 24-hour trading volume, which has skyrocketed by over 1,100%, surpassing the $100 million mark. Despite facing a significant drop on June 5 due to legal action from the US Securities and Exchange Commission (SEC) against major crypto companies, BLUR is currently trading at $0.425. On-chain data reveals a 0.34% increase in BLUR holders, reaching 41,779 unique addresses.

Blur NFT Marketplace Sees a Surge in Trading Volume and Traders

Data from DappRadar indicates that the trading volume on the Blur NFT marketplace has risen by 68% over the past day, reaching $20.9 million. The number of traders has also seen a 23.5% increase, reaching 3,950 unique traders. Currently, Blur holds the top spot among NFT marketplaces, with an average price of $2,670 for the collectibles listed on it.

Security Concerns as Hackers Steal NFTs from Blur

On June 1, a report surfaced revealing that two hackers had stolen 13 NFTs from Blur. A cybercriminal known as Pink Drainer managed to steal six collectibles from Blur by activating private sales on the marketplace, a feature not offered by Blur. This allowed Pink Drainer to acquire the NFTs for almost 0 ETH.