The BLUR price has dropped by 13% in the past 24 hours, with the utility token falling to $0.521296 as investors take profits following its Binance listing on Friday.
Despite the drop, BLUR remains up by 53% in a week and by 134% in the last 30 days, as the altcoin – the native token of NFT platform Blur – attempts to return to its all-time high of $5.
It recorded this price back in February, very soon after Blur released the governance and community token, yet has struggled to regain the same momentum.
However, there are newer tokens which look set to recreate its strong opening, with new stake-to-mine platform Bitcoin Minetrix holding an increasingly successful presale.
Is Blur Going to Zero? BLUR Price Dips 13%
BLUR’s indicators have suffered a little after its dip today, suggesting that a bigger correction may be needed before the altcoin can return to growth.
Its RSI (purple) has dropped from an overbought 80 a few days ago to 60 today, and its direction suggests that it could sink further soon enough.
Source: TradingView
On the other hand, its 30-day average (yellow) continues to climber higher above its 200-day (blue), something which indicates that the coin is still in the middle of an upcycle, even if it’s dipping today.
Its 24-hour trading volume would support this view, in that it stands at around $200 million, representing a 400% increase from where it was at the end of October.
Indeed, it seems that whales and other large traders have taken a fancy to BLUR, with a number of recent transactions showing that many are still accumulating the token.
machibigbrother.eth is buying $BLUR again.
He has spent 415 $ETH($856K) to buy 1.54M $BLUR at $0.56 again in the past 40 mins.
And has bought a total of 2.84M $BLUR($1.56M) at $0.55 in the past 4 days.https://t.co/0Lmd1cjghX pic.twitter.com/EBnvRh2J6c
— Lookonchain (@lookonchain) November 27, 2023
As such, BLUR could continue to rise again in the next few weeks, even if it’s taking a hit at the moment.
It’s likely to retain much of the momentum from its Binance listing, which saw it rise by as much as 20% in a few hours on Friday.
And while BLUR does actually remain down by 89% compared to its ATH, its native platform continues to hold a promising position within the NFT market.
DappRadar continues to rank it as the biggest NFT marketplace in the entire sector in terms of trading volumes, leading its rivals in the past day, week and month.
$BLUR x $DYDX probably two of this cycles biggest winners
BLUR – biggest NFT marketplace, highest volume NFT lender, new L2 coming with NFT perpetual futures
DYDX – dominant position on decentralized derivatives, with their own chain, updated coin list, and fee sharing soon
— moon (@MoonOverlord) November 25, 2023
For this reason, a new bull market could see the BLUR price rising much higher, especially if the NFT market picks up considerably along with it.
It could reach $0.60 in the next few weeks, and then $0.70 by the first few weeks of 2024.
Surprising New Bitcoin Mining Project Goes Viral – How Does it Work?
While BLUR has been recovering some of its lost value over the past few days, it may struggle to recapture the bullishness it had back in February, meaning that traders pursuing above-average gains may have to look elsewhere for now.
Fortunately, there are a variety of promising new altcoins in the market right now, with several presale tokens having the potential to rally big once they list.
At the top of this list is Bitcoin Minetrix (BTCMTX), an ERC-20 cryptocurrency that has raised well in excess of $4 million in its increasingly popular token offering.
@HIVEDigitalTech expands its global mining footprint with a new data center in Sweden, committed to green energy practices and boosting #Bitcoin production. #BitcoinMinetrix has also reached another phenomenal milestone, raising over $4,400,000! pic.twitter.com/IcCDlQn7kw
— Bitcoinminetrix (@bitcoinminetrix) November 27, 2023
What makes Bitcoin Minetrix appealing to investors is that it offers something fairly rare within the crypto sector: a stake-to-mine platform.
This means that its users can participate in Bitcoin mining by staking its native token, BTCMTX.
Such staking provides them with tokenized mining credits, which they can then use to effectively pay miners to mine Bitcoin (BTC) on their behalf.
Accordingly, staking enough BTCMTX can therefore earn users newly mined BTC, on top of new BTCMTX.
Just as importantly, Bitcoin Minetrix offers a streamlined and simple user interface, meaning that pretty much any cryptocurrency holder at any level could use it to earn BTC.
Exploring $BTC mining with #BitcoinMinetrix! #Cloudmining unlocks the realm of #Crypto:
Easy entry for beginners.
Cost-effective, no hardware expenses.
Space, noise, and heat worries disappear.
Smooth, hassle-free upgrades. pic.twitter.com/Jg4MeePzdI
— Bitcoinminetrix (@bitcoinminetrix) November 26, 2023
This helps to explain why its presale has already done so well, with new buyers able to join in by visiting the Bitcoin Minetrix official website.
1 BTCMTX costs $0.1190, but this price is set to rise in under five days, while it could also rise much higher once it lists on exchanges towards the end of the year.
Visit Bitcoin Minetrix Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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