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The NFT market has experienced a surge in activity, with the four-month-old marketplace Blur surpassing former market leader OpenSea in trading volume. Despite its success, some have been raised about the legitimacy of Blur’s trading volume, with CryptoSlam claiming suspicious activity and market manipulation.
Blur NFT MarketBoom: NFT Marketplace Outshines OpenSea Amid Fee Frenzy
Recent data reveals that the Blur NFT marketplace has achieved an impressive sales volume of $1.88 billion in the last 30 days, compared to OpenSea’s $474.58 million. Some attribute Blur’s rise to prominence to its polished interface, robust analytical tools, swift trade execution capabilities, and zero platform fees. However, the competition among NFT marketplaces has raised questions with regard to fees and royalties, negatively affecting the NFT ecosystem.
Blur Trading Volume Under Fire: CryptoSlam Exposes Suspected Market Manipulation
Crypto Slam has called Blur’s impressive trading volume into question. They claim that only 1% of high-value traders are responsible for the bulk of trading activity on the platform. CryptoSlam identified over $577 million in wash-traded NFTs between February 14th and February 25th. As so, it has removed these transactions from its data and accusing Blur of misrepresenting the NFT market. Data engineer Scott Hawkins from CryptoSlam stated:
“What we are finding is that this is artificially propping up sales volume in a very disingenuous way for the entire NFT market.”
Despite Blur NFT marketplace’s high trading volume, OpenSea still has more users, with 294,146 users in the last 30 days compared to Blur’s 113,886. Critics argue that a small percentage of wallets on Blur are responsible for the majority of transactions, casting doubt on the marketplace’s overall success.
Blur Volume: Fact or Fiction? Dissecting NFT Trading Trends
A recent video by Youtuber PROOF discusses if the Blur volume is real. The video discusses various topics including the trading volume on the platforms OpenSea and Blur. It also delves into the behavior of long-term holders on Blur. The presenter analyzes data and charts to determine what is driving the trading volume on Blur NFT matrket.
The video does not suggest that the volumes of the Blur NFT market are fake. Instead, the presenter discusses whether flippers or real buyers are driving the trading volume on Blur. It also investigates the impact of the incentives provided by Blur’s airdrop program on trading behavior.
Blur’s Battle: Navigating NFT Growth Amid Manipulation Concerns
As the NFT market continues to evolve, Blur’s future success hinges on its ability to address concerns surrounding potential market manipulation and maintain its competitive edge. Both skeptics and supporters have been analyzing trading volume and user behavior. It remains to be seen whether Blur can sustain its growth and emerge as a trusted marketplace for NFT enthusiasts.
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This article is educational material.
As always, make your own research prior to making any kind of investment.