What Happened on Feb. 15th | Blur and the NFT Marketplaces

TI Research

Blur launched its long-awaited $BLUR airdrop and aim to establish decentralized governance for the Blur marketplace and to compete with rivals like OpenSea. This airdrop is the largest one in the NFT ecosystem since early last year, and it's causing renewed attention and activity around NFTs.

The token experienced high volatility and the price drop over 80% from the initial high of $5, the current market activity indicates that the fully diluted market cap of $BLUR is approximately $2.2 billion USD. This places the token's market cap much more than other similarly designed tokens, such as $LOOKS ($281 million FDV ) and $X2Y2 ($151 million FDV). Blur has seen significantly more NFT trading volume recently than LooksRare and X2Y2.

However, $BLUR looks not that expensive in comparison to competitors when taking into account valuation ratios such as FDV / Volume or FDV / Users.

Source: https://twitter.com/korpi87/status/1625646247091503106

According to data from @korpi87, both FDV/Volume and FDV/Users for Blur is smaller than sudoswap and looksrare.

Biggest Gainers & Losers

Source:TokenInsight Gainers and losers


Coinbase Fires at SEC Again, Defending Stablecoins: Coinbase, for the second time in a week, has criticized the SEC's regulatory decisions. In a tweet, Coinbase clarified that stablecoins are not securities and criticized the SEC's method of imposing securities law onto stablecoins through enforcement instead of guidance or dialogue with the industry.

CZ: Euro, Yen, and Singapore Dollar Stablecoins Will Likely Replace USD-backed StablecoinsOn Twitter Space Feb 14 night, Binance CEO CZ stated that the crypto industry will likely shift away from relying on US dollar-based stablecoins in the future. Instead, he believes that stablecoins backed by the euro, yen, or Singapore dollar will become more prevalent.

Blur's Native Token $BLUR Now Live: NFT marketplace Blur saw its native BLUR token fall to $0.78 from a high of $5 — recording a sharp decline of over 84% — shortly after its airdrop distribution went live.

Hot projects on the market

Polygon zkEVM Mainnet Beta to Go Live on March 27th: According to Polygon, developers can copy-paste code that works on Ethereum and use it to build on Polygon zkEVM without having to change a thing.

Stablecoin De-Peg Hedging Protocol Y2K Rose Over 650% in the Past Month: you can make some profit when the market FUD some stablecoin that you think it is safe by selling the de-peg risk.

Way Network to Help Algorithmic Stable Currency Projects Become zkOmnichain Stablecoins.

Conflux Network Partners With China Telecom for Blockchain-Based SIM Cards

Push Protocol Launches on BNB Chain

BitDAO Community Votes on New Proposal Regarding Providing First Year Budget for Mantle

Other news in case you missed it:

Proposal to Enable $SUDO Transferability Will Be Voted Again After First Proposal Fails to Pass Quorum

Coinbase to List Access Protocol ($ACS)

Eligible OKX Customers Impacted by $BLUR Deposit Delays Will Receive up to 500 $OKB

Final Fantasy Maker Square Enix to Launch NFT Game on Polygon

Abu Dhabi Commits Over $2 Billion to Fund Web3 Startups

NFT Marketplaces




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TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

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