$BLUR will shut down its website after a 99.5% drop in volume, and the BLUR token is plunging.
The marketplace that revolutionized and dominated the digital collectibles trade on Ethereum has decided to shut down its main interface. Blur officially announced that its website will stop operating on November 12, when it will also permanently suspend the origination of new loans through its Blend protocol. The decision marks the second major retreat in less than two weeks for projects led by developer Tieshun Roquerre, known as Pacman, following the recent announcement that the Blast layer-two network will shut down.
The platform’s declining metrics reflect the sector’s waning momentum. At its peak in March 2023, Blur captured more than 70% of Ethereum’s market share thanks to an aggressive rewards strategy involving airdrops and zero fees, processing more than $1.43 billion monthly. By 2026, however, that volume had fallen to less than $7 million—a drop of more than 99.5% in liquidity—without generating direct protocol revenue to support its infrastructure over the long term.
From a technical standpoint, the shutdown affects only the web interface, meaning the smart contracts will remain active on the Ethereum network and token holders will retain theoretical control of the fee switch. However, the warning for Blend traders and borrowers is immediate: they have until the deadline to repay their debts or face liquidation. The market reaction was swift, with the BLUR token falling more than 20% to an all-time low—a clear lesson about the risks of building business models that depend on speculation around temporary incentives.
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The marketplace that revolutionized and dominated the digital collectibles trade on Ethereum has decided to shut down its main interface. Blur officially announced that its website will stop operating on November 12, when it will also permanently suspend the origination of new loans through its Blend protocol. The decision marks the second major retreat in less than two weeks for projects led by developer Tieshun Roquerre, known as Pacman, following the recent announcement that the Blast layer-two network will shut down.
The platform’s declining metrics reflect the sector’s waning momentum. At its peak in March 2023, Blur captured more than 70% of Ethereum’s market share thanks to an aggressive rewards strategy involving airdrops and zero fees, processing more than $1.43 billion monthly. By 2026, however, that volume had fallen to less than $7 million—a drop of more than 99.5% in liquidity—without generating direct protocol revenue to support its infrastructure over the long term.
From a technical standpoint, the shutdown affects only the web interface, meaning the smart contracts will remain active on the Ethereum network and token holders will retain theoretical control of the fee switch. However, the warning for Blend traders and borrowers is immediate: they have until the deadline to repay their debts or face liquidation. The market reaction was swift, with the BLUR token falling more than 20% to an all-time low—a clear lesson about the risks of building business models that depend on speculation around temporary incentives.
Follow me and give me a like 😉
#noticias