Is Blur Going to Zero? BLUR Price Dips 13% as Surprising New Bitcoin Mining Project Goes Viral – How Does it Work?
The BLUR price has dropped by 13% in the past 24 hours, with the utility token falling to $0.521296 as investors take profits following its Binance listing on Friday.
Despite the drop, BLUR remains up by 53% in a week and by 134% in the last 30 days, as the altcoin – the native token of NFT platform Blur – attempts to return to its all-time high of $5.
It recorded this price back in February, very soon after Blur released the governance and community token, yet has struggled to regain the same momentum.
However, there are newer tokens which look set to recreate its strong opening, with new stake-to-mine platform Bitcoin Minetrix holding an increasingly successful presale.
BLUR’s indicators have suffered a little after its dip today, suggesting that a bigger correction may be needed before the altcoin can return to growth.
Its RSI (purple) has dropped from an overbought 80 a few days ago to 60 today, and its direction suggests that it could sink further soon enough.
On the other hand, its 30-day average (yellow) continues to climber higher above its 200-day (blue), something which indicates that the coin is still in the middle of an upcycle, even if it’s dipping today.
Its 24-hour trading volume would support this view, in that it stands at around $200 million, representing a 400% increase from where it was at the end of October.
Indeed, it seems that whales and other large traders have taken a fancy to BLUR, with a number of recent transactions showing that many are still accumulating the token.
machibigbrother.eth is buying $BLUR again.
He has spent 415 $ETH($856K) to buy 1.54M $BLUR at $0.56 again in the past 40 mins.
And has bought a total of 2.84M $BLUR($1.56M) at $0.55 in the past 4 days.https://t.co/0Lmd1cjghX
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