BLUR skyrockets 30% following Binance listing announcement
Crypto exchange Binance said it will open trading with the token on Nov. 24 at 09:00 (UTC).
Cryptocurrency exchange Binance will add support for BLUR, an ERC-20 native token of the NFT marketplace Blur, after the marketplace’s founder Tieshun Roquerre announced the launch of Blast, a layer-2 network aimed at non-fungible tokens.
In a blog announcement on Nov. 24, the exchange said it will open trading with BLUR/BTC, BLUR/USDT and BLUR/TRY at Nov. 24, 09:00 (UTC). Traders can already deposit BLUR, with withdrawal to be opened at Nov. 25, 06:00 (UTC). Beyond putting BLUR on its trading list, Binance will also list BLUR as a new borrowable asset with this new margin pair on Isolated Margin.
Following the news, BLUR price jumped nearly 30%, surging up to $0.62. The token’s market capitalization increased to $690.7 million, according to data from CoinGecko.
The listing comes shortly after Blur founder Tieshun Roquerre announced he had raised $40 million to contribute to the Blur ecosystem. Binance said in the announcement that the listing costed 0 BNB in fees. However, it’s unclear if the proceeds from the $40 million funding were used for the listing.
Moreover, the Blur team also launched its own layer-2 network called Blast in a bid to reduce transaction costs for digital collectibles and earn yield with Ethereum staking.
Yet, the crypto community already noticed several issues related to Blast. According to Polygon engineer Jarrod Watts, five signer wallets of Blast’s multi-signature contract are all new unknown entities, which makes it risky for users “to send Blast funds in its current state.”
