BLUR, a crypto backed by Paradigm, experienced a surge in whale activity on November 27, with large holders transferring over 7 million BLUR to exchanges like Binance and OKX.
This influx of tokens to exchanges suggests a potential increase in supply, leading to reduced demand and subsequently a significant drop in the BLUR price.
Market data from Spot on Chain indicates that the price decline followed the movement of tokens to exchanges.
Notable whale transactions involved deposits to Binance and OKX, with associated profits from previous holdings.
Wintermute Trading, a crypto market maker, was also involved in transferring BLUR to OKX. As of the latest update, the BLUR price had fallen by 12.12%, reaching $0.5274, with a notable increase in the token’s total supply due to the recent activity on exchanges.
