Despite the excitement surrounding this much-anticipated event, the release of these tokens into circulating supply comes amid a wave of negativity across the crypto market. Regulatory and macroeconomic headwinds have contributed to BLUR’s price dipping 27% in the past week, leaving some investors feeling uneasy and uncertain about the future of the platform.
According to data from Token Unlocks, the 196 million BLUR tokens being unlocked is equivalent to about 6.5% of the platform’s total supply, which is no small feat. However, this will translate to a substantial increase in circulating supply, with 115.6 million tokens going to core contributors, 75.4 million to investors, and 4.9 million to advisors.
The circulating supply for Blur is currently just over 495.2 million tokens, giving the cryptocurrency a market cap of $154 million, which is impressive considering the recent dip in price. This indicates that Blur still has a strong foothold in the market and that the community is still optimistic about its future.
Blur’s maximum supply is 3 billion BLUR, with approximately 83% of the total supply currently locked (2.49 billion BLUR worth approximately $769 million). Unlocked tokens are 511.3 million BLUR worth approximately $158 million at BLUR’s current price of $0.309.
While the release of the 196 million BLUR tokens into circulating supply may have some investors feeling uneasy, it is important to note that this release is just a small fraction of Blur’s total supply. The fact that the cryptocurrency still has a strong foothold in the market despite recent macroeconomic and regulatory headwinds indicates that the community is still optimistic about its future prospects.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.