Does a 33.66% drop fully price a marketplace closing its own front door, or is $BLUR still looking for the floor? đ§š
Blur said on Oct 12 that blur.io shuts on November 12 and Blend stops matching new NFT loans the same day, borrowers repay or default before then. The contracts stay live on Ethereum and token holders keep the fee switch, but the product people actually used is going away, and that's why the token is at $0.012 with the whole -42.77% week delivered in one session. Bitcoin is +1.11% over the same 24 hours and $ETH is only -0.40%, so this isn't the tide, it's a project-specific repricing on $11M of volume.
Price sits about 8% up the $0.01148-$0.01834 range, pinned to the low rather than bouncing off it. The loudest number on the board is funding at -0.442%: shorts are paying nearly half a percent a round to press $BLUR after it already gave up a third, which is a crowded trade, not a fresh one. đ The read changes if that funding drifts back toward zero while $0.01148 holds, because then the squeeze fuel is gone and the price still didn't break; a close under the low with funding that deep says the selling is spot, not leverage. That $0.01148 low is what I'm watching, a reference rather than a target. đ§
#BLUR #FundingRates #NFT #RangeTrading
Blur said on Oct 12 that blur.io shuts on November 12 and Blend stops matching new NFT loans the same day, borrowers repay or default before then. The contracts stay live on Ethereum and token holders keep the fee switch, but the product people actually used is going away, and that's why the token is at $0.012 with the whole -42.77% week delivered in one session. Bitcoin is +1.11% over the same 24 hours and $ETH is only -0.40%, so this isn't the tide, it's a project-specific repricing on $11M of volume.
Price sits about 8% up the $0.01148-$0.01834 range, pinned to the low rather than bouncing off it. The loudest number on the board is funding at -0.442%: shorts are paying nearly half a percent a round to press $BLUR after it already gave up a third, which is a crowded trade, not a fresh one. đ The read changes if that funding drifts back toward zero while $0.01148 holds, because then the squeeze fuel is gone and the price still didn't break; a close under the low with funding that deep says the selling is spot, not leverage. That $0.01148 low is what I'm watching, a reference rather than a target. đ§
#BLUR #FundingRates #NFT #RangeTrading