BLUR Underperforms CoinDesk Market Index Ahead of $62M Token Unlock

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Ahead of its token unlock Wednesday, the token for blur_io has slid roughly 4% in the past 24 hours, doing worse than the wider crypto market. reports

The token unlock, which will take place on Wednesday, will release almost 196 million tokens, representing nearly 40% of the currently circulating supply, according to data from CoinGecko and Token Unlocks. When this $62 million of tokens are released, owners of BLUR will get greater autonomy over their holdings, gaining the ability to sell or swap.

Releasing that much new supply could push prices down, assuming demand stays constant – as the fundamentals of economics would suggest. But the unlock also comes several days after a wide sell-off this past weekend thatAbout 83% of all BLUR tokens remain locked, according to Token Unlocks.in its top five pools on Uniswap V3, the most recent iteration of the largest decentralized exchange by trading volume.

 

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