BLUR experiences a staggering 30% surge after the announcement of its listing on Binance.
Binance, a well-known cryptocurrency exchange, has announced its support for BLUR, the native token of the NFT marketplace Blur. This comes after the founder of Blur, Tieshun Roquerre, revealed the launch of Blast, a layer-2 network designed for non-fungible tokens.
In a recent blog post, Binance stated that it will begin trading BLUR/BTC, BLUR/USDT, and BLUR/TRY on November 24 at 09:00 (UTC). Traders can already deposit BLUR, and withdrawals will be available starting November 25 at 06:00 (UTC). Additionally, Binance will list BLUR as a new borrowable asset with a new margin pair on Isolated Margin.
Following this news, the price of BLUR surged by almost 30%, reaching $0.62. This resulted in the token’s market capitalization increasing to $690.7 million, as reported by CoinGecko.
The listing on Binance comes shortly after Tieshun Roquerre announced that he had secured $40 million to contribute to the Blur ecosystem. Binance stated that the listing incurred no fees in their announcement, although it is uncertain if the funds from the $40 million funding round were used for this purpose.
In addition to the listing, the Blur team has also introduced Blast, their own layer-2 network. The aim of Blast is to reduce transaction costs for digital collectibles and allow users to earn yield through Ethereum staking.
However, the crypto community has already raised concerns about Blast. Polygon engineer Jarrod Watts pointed out that the five signer wallets associated with Blast’s multi-signature contract are all unknown entities. This poses a risk for users who wish to send Blast funds in its current state.
Overall, the listing of BLUR on Binance and the launch of Blast signify significant developments within the NFT and cryptocurrency space.
