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

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.

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

Biggest Gainers & Losers

Headlines

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 Stablecoins：On 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