39.46 Million BLUR Deposited into Coinbase Prime
CryptoNewsTerminal Staff18 Sep, 2024
39.46 Million BLUR Deposited into Coinbase Prime
On-chain cryptocurrency analyst EmberCN reported that "39.46 million BLUR ($6.94 million) unlocked today has been deposited into Coinbase Prime 30 minutes ago".
BLUR is the native token of the Blur NFT marketplace, which allows users to trade NFTs without paying marketplace fees. The token was launched in October 2022 and has a total supply of 3 billion tokens.
The deposit of such a large amount of BLUR into Coinbase Prime suggests that there is significant institutional interest in the token. Coinbase Prime is a cryptocurrency custody and trading platform for institutional investors. The fact that BLUR is now available on Coinbase Prime will make it easier for institutional investors to trade the token and gain exposure to the NFT market.
This development is likely to be positive for the price of BLUR in the long term. As more institutional investors gain exposure to the token, demand for BLUR is likely to increase, which could lead to a higher price.
