According to the report of the research company Token Unlocks, the Blur (BLUR) token will be unlocked on June 14, tomorrow.
The report stated that the number of BLUR tokens to be unlocked will be 196 million.
The BLUR token to be unlocked accounts for 6.5% of the total supply, 40% of the circulating supply, which means that the circulating supply will increase by 40%.
According to the Token Unlock report, 115.68M BLUR, ($36.8 million), for past and future key contributors; 75.4 million BLUR ($24 million) to investors; 4.9 million BLUR ($1.56 million) will be made available to consultants.
Evaluating the BLUR unlock and the movements of the whales, Lookonchain said, "Will the unlock bring a bull or a bear in BLUR price?" said.
196M $BLUR ($62.3M) will be unlocked tomorrow, ~40% of the circulating supply.
Bullish or Bearish?
Are SmartMoneys and whales buying or selling recently?
1.🧵
Thread. pic.twitter.com/uW3o0ndq5u
— Lookonchain (@lookonchain) June 13, 2023
Lookonchain also stated that address "0x06cD" has received a total of 10.5 million BLUR tokens ($3.36 million) from OKX exchange since April 4 and is actively involved in the BLUR market.
Lookonchain added that this address actively holds 13.5 million BLUR tokens, making it the eighth largest BLUR holder.
Apart from the 0x06cD address, the whale named Oilysirs.eth was also stated to have purchased 100,000 BLUR tokens for 20 Ethereum (ETH) ($ 35,000) two days ago.
This whale had previously made a substantial profit of 455 ETH ($792,000) from trading BLUR.
Lookonchain said it sold 1.9 million BLUR at $0.31 yesterday at address "0xfcef" against these purchases.
Other than BLUR, it's not the only project to unlock this week. In this context, according to the report of Token Unlocks, altcoins such as ApeCoin (APE), Lido DAO (LDO), Uniswap (UNI), BitDAO (BIT) and Filecoin (FIL) will also be unlocked.
