Blur Soars 15%: NFT Marketplace Battle Heats Up with New Features and Partnerships
Blur, the up-and-coming NFT marketplace, has witnessed a remarkable 15% surge in its BLUR token price within the past 24 hours. This bullish trend can be attributed to several key factors:
1. Royalty Policy Update: Earlier this week, Blur announced a change in its royalty policy, allowing creators to set full royalty fees across all platforms, even if their NFTs trade on rival marketplaces like OpenSea. This move aims to attract creators frustrated by OpenSea’s limitations and further solidify Blur’s position as a creator-centric platform.
2. Blur’s NFT Community Building: Blur has actively engaged with the NFT community, hosting AMAs, competitions, and actively soliciting feedback. This engagement builds trust and attracts users loyal to the platform’s philosophy and long-term vision.
3. Strategic Partnerships: Recent collaborations with industry players like Manifold and Rainbow Wallet show Blur’s expanding reach and commitment to interoperability within the NFT ecosystem. These partnerships enhance user experience and potentially attract new user segments.
4. Blur Token Utility: BLUR serves multiple purposes within the platform, including governance participation, fee discounts, and potential future airdrops. Increased platform usage translates to higher demand for the token, contributing to its price appreciation.
Technical Analysis of BLUR/USD
BLUR/USD has broken above a crucial resistance level at $0.70, indicating a potential continuation of the uptrend. However, traders should proceed with caution, as the RSI suggests overbought conditions in the short term.
- Moving Averages: Both the 50-day and 200-day moving averages are sloping upwards, confirming the positive momentum.
- Support and Resistance: Key support levels lie at $0.60 and $0.50, while resistance lies at $0.80 and $0.90.
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