Blur Price Struggles Despite the Gain in Blend’s Market

• 1 Blur is currently dominating the NFT lending market with an impressive trading volume
• 2 BLUR price technical indicators are currently favoring a consolidated trend. It has seen a drop of 1.76% in the intraday session

Blur is one of the most advanced NFT marketplaces which has gained significant attention among investors. The advanced features of BLUR include real-time price feeds, NFT comparison, portfolio management, and many more. They have faster NFT sweeps and better interfaces than other platforms.

Blur has recently launched the Blur lending protocol called Blend. It is a peer-to-peer platform for NFT lending and borrowing. In the first week of working Blend saw an impressive growth of approximately 3945% as per DappRadar. There are currently 2569 active loans on Blend with 14777 ETH active loans as per Dune Analytics.The loan volume of Blend has surged from $7.6 Million to $308 Million in just 22 days as per DappRadar. There is also impressive growth in Blur TVL which has fueled the growth in Blend.

Source: Dune.com

In the war between Blur and OpenSea to gain more NFT market dominance Blur is gaining in every aspect. The current Daily Volume of Blur is 2X times the volume of OpenSea. Meanwhile, the number of daily users of Blur is 50% less than OpenSea.

The daily Average traded price of Blur is nearly $800 while the Opensea Average Trade price is $235. BLUR has taken the NFT marketplace by storm and can continue to dominate in the future.

Is BLUR Looking For a Breakout?

Blur has been in a consolidated momentum for the past few days. It has a market cap of $249,687,455 and is ranked 124th in the CMC. Blur is currently trading near the value of $0.5 with a drop of 1.5% in the intraday session. The upside trend of Blur can see a halt near the value of $0.6.Meanwhile, the support in the asset price can be seen near $0.45. Blur price is currently moving in a weak upside trend on the 4-hour chart. It is trading above the 50 and 100 Daily Moving Averages on a 4-hour chart. If the price sees a downside trend then the DMA can act as a support for the price.

The RSI of Blur is near 55 suggesting its presence in the neutral zone with no slope in it. Blur’s RSI highlights a consolidated trend in price.

Summary

Blur Blend gained significant adoption with a strong rise in lending value. BLUR’s price is currently struggling in a consolidated trend in the daily chart.

Technical Levels

Major Support:$0.45

Major Resistance:$0.6

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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