Binance, the world’s leading cryptocurrency exchange, announced the listing of the BLUR token, causing a positive impact on its value, which surged more than 25% in the last 24 hours. This token is associated with Blur, the world’s largest NFT marketplace.
The immediate opening of trading pairs BLUR/BTC, BLUR/USDT, and BLUR/TRY started at 09:00 UTC, marking a milestone for BLUR holders who now have the opportunity to exchange their tokens on the renowned platform. Binance encourages users to make BLUR deposits while awaiting the official opening of operations.
It’s worth noting that, although immediate trading is available, withdrawals of the native Blur token will not be enabled until November 25 at 06:00 UTC. This interim period provides users with the opportunity to prepare for transactions and manage their holdings.
Additionally, the exchange plans to offer BLUR as a new borrowable asset with the BLUR/USDT pair on Isolated Margin. However, this option will be available approximately 48 hours after the commencement of spot trading.
Binance Takes Precautions With Blur
It’s important to highlight that Binance applied a special condition to its support for the BLUR token: the “Seed Tag” labeling. This tagging implies that BLUR is a new project and may exhibit higher volatility and risks compared to other listed tokens. In an effort to promote awareness of associated risks, Binance will require users to pass quizzes every 90 days on the Binance Spot and/or Binance Margin platforms, in addition to repeatedly accepting the Terms of Use to maintain trading access to the token.
This announcement comes at a time when Binance is under regulatory scrutiny, likely influencing its caution in applying the “Seed Tag.” Despite this condition, the price of the BLUR token experienced a notable increase of 25.65% in the last 24 hours, reaching $0.6172 according to CoinMarketCap data. Its market capitalization grew by 25% to just over $681,893,248. Meanwhile, its trading volume rose by approximately 21% to reach $1,021,507,892.
Furthermore, the growth of BLUR has been impressive over longer periods. With a 96% increase in the last week and an extended growth of 187.5% over the last month.
