Blurry (BLUR) token price is gaining bullish momentum for the first time in over four months as the market sees a notable surge in non-fungible token (NFT) sales.
Blur has gained 30% in the past 24 hours, trading at $0.39 as of writing, reaching a four-month high. The asset’s market cap currently stands at $414 million, a level last seen in late July. BLUR’s 24-hour trading volume has also surged 400%, surpassing the $460 million mark.
According to data provided by market intelligence platform Santiment, whale transactions worth at least $100,000 in BLUR surged 248% over the past day — from 19 transactions to 66 in 24 hours.
Additionally, data provided by Santiment shows that Blur's social volume surged 80%.
It is worth noting that according to data from Santiment, the convergence of BLUR price and daily active addresses (DAA) is currently 24%. In simple terms, when the price DAA divergence indicator remains positive, the model triggers a "buy" signal.
Bullish expectations surfaced when BLUR’s total open interest (OI) reached $295 million. However, the platform does not separately indicate the number of short and long positions.
NFT sales surge
BLUR token prices surged as the NFT ecosystem gained 45% in the past day. According to data provided by DappRadar, total NFT sales exceeded the $18 million mark.
According to data aggregator, the majority of NFT sales ($10.65 million) came from the Blur marketplace, while its competitor OpenSea saw just $2.83 million in volume over the past day.
According to DappRadar, the number of sales on Blur has reached about 7,530 unique transactions, with a total of about 4,470 traders.
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