blurriness increased by 11% after this announcement

BLUR, the native token of the Blur NFT marketplace, saw its market capitalization increase recently following a special announcement. According to Data by CoinMarketCapBLUR has gained 11.75% in the last 24 hours to emerge as one of the top gainers in today’s market.

Looking at its price observation, BLUR has shown mixed price movements over the past seven days, however, resulting in an overall increase of 12.43% in value.

However, monthly chart data for the coin tells a different story, with BLUR losing over 26% of its value over the past 30 days. During this period, BLUR fell to its lowest price this year, trading as low as $0.297.

BLUR market jumps on listing announcement

BLUR experienced a sudden surge in its price this morning, with the coin trading around $0.43 for the first time since the beginning of the month.

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Analyzing the price action of BLUR, on-chain analytics platform LookOnChain notes that the surge in BLUR price is due to its recent listing by a crypto exchange.

according to Lukonchan reportsBLUR market cap surged over 27% after popular Asian exchange Upbit announced plans to list the token on its KRW market early today.

Upbit is famous as the first licensed digital exchange in South Korea. Established in 2017, the exchange serves over 10 million users, which accounts for over 80% of the Korean exchange market.

That said, it is worth noting that BLUR price peaked at $0.43 following the announcement, but has since been on a downtrend, losing nearly 12% in value over the past seven hours.

At the time of writing, BLUR is currently exchanging at a price of $0.38 based on data from CoinMarketCap. Meanwhile, its daily trading volume has increased by 11.83% to around $277 million.

BLUR Trading At $0.380 | Source: BLURUSD Chart On Tradingview.com

Money Maker makes intriguing trade amid surge in BLUR price

In other news, LookOnchain also observed “unusual market behavior” from major DeFi market maker Wintermute amid the recent price surge in BLUR markets.

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Wintermute reportedly received 10 million BLUR tokens – worth $4.2 million – from a Coinbase custody wallet and deposited these tokens on the Kraken exchange several hours before the BLUR price spiked.

The on-chain analytics platform also noted that market makers deposited 2.1 million BLUR on Coinbase – worth $895,000 at the time; However, after the jump in price.

For now, Wintermute’s intentions after these transactions are unknown, but it appears to be drawing more attention to the company’s recent troubles.

Three days ago, creditors of the inactive loan platform Celsius allegations against wintermute Stating that the market maker has cooperated with Celsius officials in the wash trading deal.

Featured Image: Chart from NewsWorge, TradingView.