NFT marketplace Blur will be unlocking today almost 196 million amounting to 6.5% of the total supply and 40% of the current market supply of the asset worth ~$62 million.
Of this, 115.6 million are allocated to key developers, 75.4 million to investors, and the remaining 4.9 million for project advisors.
This follows an impressive round of funding in March 2022, when Paradigm led the seed investment of $11 million for the platform, followed by another investment of $15 million to $30 million at a $1 billion evaluation in February 2023 and a subsequent BLUR airdrop.
Meanwhile, analysts from Lookonchain have noticed that large token holders have been actively trading just before the unlock.
Some of the whales have significantly profited from this, while others have decided to liquidate their tokens for a loss.
One example shows a wallet who sold 101,796 BLUR for $32,500, leading to a ~68% decrease from the purchase price.
Similarly, another wallet liquidated 194,040 BLUR for a ~51% fall in value. In the seven days before the unlock, the price of the token has already decreased by ~30%.
