Binance, the world’s largest cryptocurrency broker, has announced the listing of the BLUR token, further expanding its vast portfolio of digital assets. This Friday morning (24), the platform opened spot trading for the BLUR/BTC, BLUR/USDT and BLUR/TRY pairs.
According to an official statement from Binance, withdrawals from BLUR, a native token of the NFT market of the same name, will only be possible from tomorrow, November 25.
In an unprecedented move, the broker plans to introduce BLUR as a lending asset, especially in the BLUR/USDT pair on isolated margin, which is expected to be implemented within 48 hours of the opening of trading.
#Binance will enumerate @blur_io $ FADE applied with Seed Tag.
➡️ https://t.co/Luno3JbCC8 pic.twitter.com/G9qSkUECSV
— Binance (@binance) November 24, 2023
Interestingly, Binance will apply the “Seed Tag” to BLUR and mark it as a new project with potential risks and high volatility. The measure comes in a context where Binance is strengthening its compliance system.
The Seed tag implies that Binance users must continuously complete questionnaires and accept the Terms of Use in order to trade the token. The aim is to ensure that investors are aware of the risks associated with trading new currencies.
What is fading?
Blur is a zero-fee non-fungible token (NFT) marketplace that launched in October 2021 and, unlike other platforms, is specifically designed for professional traders with specific needs.
The project became increasingly popular before its official launch, as the market promised faster creation of NFTs, better selling rates, a rating function and a more intuitive interface than its competitors.
Since its launch, the Blur NFT marketplace has achieved a major milestone by surpassing OpenSea in trading volume. The progress was driven by a merchant incentive system, which stood out in the competitive NFT scenario.
The Blur marketplace allows professional traders to purchase NFTs from other markets with instant liquidity, batch shelf, and broad trades, in addition to order book NFT trades.
After Blur eliminated trading fees for buyers and sellers, other major platforms, including OpenSea, were forced to do the same.
Additionally, Blur guarantees royalties for creators, just like other marketplaces. However, creator royalties on Blur are customizable, allowing NFT traders to choose the percentage.
These are some of the reasons why Blur has quickly become investors’ favorite NFT trading platform, overtaking OpenSea as the market leader.
Blur soars 40% after listing on Binance
After announcing its listing on Binance, the BLUR token saw a significant increase of 40% in its value, reaching $0.6284, according to data from CoinMarketCap.
The increase can be attributed to the confidence generated by the listing on Binance and investors’ anticipation of new trading opportunities.
The inclusion of BLUR on Binance represents a significant milestone for the token, but is also indicative of the growing diversification and maturity of the cryptocurrency market.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
