cryptonews.com
NFT-related altcoin Blur (BLUR) has risen double-digit over the past 24 hours, according to CoinMarketCap data. The native token of its namesake NFT aggregator and marketplace has soared above 20%.
The token has seen a massive surge in trading volume of 1240% in just 24 hours. The trend is seen after the token was listed on Upbit – a South Korean trading platform, accompanied by a price rise of 22% at the same time.
The altcoin’s trading volume now stands 44th in the global crypto market, although Blur’s ranking is 110th in terms of market capitalization.
Another obvious trigger for growth is its recent integration with the OKX NFT marketplace with numerous features. Additionally, Blur is also a part of one of the leading NFT platforms running on the Solana (SOL) blockchain.
The asset saw a massive plunge on June 5, when the US Securities and Exchange Commission (SEC) took legal action against major crypto firms.
Blur is seen trading at $0.36 at press time.
Will Blur Sustain the Trend?
Blur’s recent growth rally has helped trigger a positive growth trend in the 7-day period. Blur has positioned itself as a prime destination for NFT collectors and sellers, thus driving up its trading volume.
The trading volume on the Blur NFT aggregator has risen exponentially over the last 24 hours surpassing $395 million. According to data provider DappRadar, Blur has witnessed 65% growth in the number of unique traders, reaching the 6,278 mark at the time of writing.
DappRadar data shows that Blur has an average price of $3410 for the collectibles listed, making it the top NFT marketplace.
Blur launched an airdrop in February, which brought significant traction from airdrop hunters in the first quarter. With a remarkable 361% surge in Ethereum NFT trades, Blur surpassed OpenSea as the NFT market leader in February, according to data analytics platform Nansen.ai.