Whale Watching: BLUR Transactions & Market Impact After Binance’s Perpetual Launch

On April 27th, Binance Futures announced the launch of the USDⓈ-M BLUR perpetual contract, which is set to offer up to 20 times leverage to users. 

This announcement has garnered a lot of attention in the cryptocurrency trading community, as many are now questioning whether whales are buying or selling BLUR in light of the news.

According to a tweet by Lookonchain, 0xed06, a prominent whale, recently purchased 1.39 million BLUR with 1 million USDC at an average price of $0.72 just 3 hours ago. 

In contrast, luggis.eth sold 1.77 million BLUR for 1.2 million USDC at $0.68 7 hours ago, resulting in a loss of around $295,000.

Lookonchain also tweeted that the price of the token has increased by approximately 10% since the announcement of the perpetual contract launch on Binance. 

Interestingly, the tweet also highlights three Ethereum withdrawers who withdrew a total of 686 ETH, approximately about $1.28 million, on April 15th and used all the funds to purchase 2 million BLUR ($1.42 million currently) today, at an average price of $0.636.

The move by Binance Futures to launch the USDⓈ-M BLUR perpetual contract has certainly created a stir in the cryptocurrency community. 

It remains to be seen whether more whales will follow 0xed06’s lead and purchase the token or whether luggis.eth’s decision to sell will be mirrored by others. However, what is clear is that the launch of this perpetual contract has put the token firmly on the radar of many traders.

OKX Launches NFT Selling On Blur.io 

Meanwhile, OKX, another largest cryptocurrency platform by trading volume, has released updates for the week of April 24, 2023. This revealed that OKX had become the first and only aggregator to enable users to sell NFTs on Blur.io, in addition to OKX, OpenSea, and LooksRare. 

This move marks a significant milestone for the OKX NFT Marketplace, which now offers its users access to four marketplaces when using OKX as an aggregator to sell NFTs. 

Blur.io is one of the fastest-growing Ethereum-based NFT marketplaces, and OKX users who trade via the platform will now have a wider pool of potential buyers.

Related Reading | Ethereum’s Resilience: Surge In Whales Amid Downturns & Positive Q1 Developments