Blur invigorates the NFT market, with volume soaring by 229%

The recent airdrop plan of the NFT trading platform Blur has brought significant stimulation to the market. Data shows that the daily volume of 15 major NFT trading markets increased by 229% in the past week, and the number of daily active addresses grew by 19%. Among them, Blur performed the best, with daily volume surging by 467% and daily active addresses up by 46%.

Although Blur has driven overall market growth, its dominance has also squeezed other platforms. Currently, Blur accounts for 79% of daily trading volume, together with OpenSea, they occupy over 94% of the market share. In terms of user scale, Blur and OpenSea together account for 83%, but the pressure that Blur exerts on other platforms is relatively small.

The Bidding mechanism introduced by Blur has an impact on NFT pricing. Data shows that bids for popular projects on Blur are mainly concentrated around the floor price, with an average deviation of 0.72%. This puts downward pressure on the floor price. Compared to OpenSea, the average floor price of the top 100 projects on Blur is 5% lower.

The trading strategies of high-scoring users are showing divergence. Some users place bids frequently and close to the floor price, while others bid less but significantly below the floor price. It is worth noting that the current NFT valuations held by high-scoring users are all below cost, with an average estimated loss of 90 ETH.

Overall, Blur's innovative mechanism has brought new vitality to the NFT market, but participants also need to pay more attention to risk management. Ordinary users have limited gains from the first round of airdrops, and in the future, they should closely monitor market changes.