BLUR tokens surge 31% following Binance listing revelation

Binance, a cryptocurrency Exchange, has announced its plan to incorporate BLUR, the ERC-20 native token of Blur, an NTF marketplace. This decision comes following the introduction of Blast, a layer-2 network designed for non-fungible tokens by Tieshun Roquerre, the founder of Blur.

In their X-post on November 24, Binance unveiled the commencement of trading for BLUR/USDT, and BLUR/TRY starting from November 24, 09:00 (UTC). Traders can already deposit BLUR tokens, while withdrawal will be enabled on November 25, 06:00 (UTC). Alongside adding BLUR to its trading list, Binance will introduce BLUR tokens as a new asset available for borrowing, included in the new margin pair on Isolated Margin.

The announcement led to a remarkable surge in BLUR’s price by almost 31%, reaching a high of $0.634. As a result the token’s market capitalization rose to $699.99 million, based on data from CoinMarketCap.

This listing closely follows Blur’s founder, Tieshun Roquerre, revealing a successful fundraising effort of $40 million to support the Blur ecosystem. Binance clarified that there were no fees, costing 0 BNB, associated with the listing. However, it remains unclear whether the proceeds from the $40 million funding contributed to this listing.

Additionally, the Blur team introduced Blast, their own layer-2 network, aimed at reducing transaction cost for digital collectibles an enabling Ethereum staking for yield. Nevertheless, concerns have arisen within the crypto community regarding Blast. Polygon engineer Jarrod Watts highlighted that the five signer wallets of Blast’s multi-signature contract are all new and unidentified entities, raising potential risks for user engaging with Blast in its current state.

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