Binance will launch futures on BLUR. Token rate rises by 20%

The launch of the BLURUSDT perpetual contract with up to 20x leverage will take place on April 28

27.04.2023 - 14:45

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What’s new? On April 27, Binance Futures, a platform from the Binance cryptocurrency exchange, announced the launch of futures on the native asset of Blur, a marketplace of non-fungible tokens (NFT). The launch of the perpetual contract BLURUSDT with a leverage of up to 20x will take place on April 28 at 12:00 UTC. After the announcement, the BLUR rate jumped by 20,63% to $0,715875. By 14:40 UTC, it corrected to $0,697831, according to aggregator CoinGecko.

Information on the Binance website

What else is known? Based on market risk conditions, Binance may from time to time adjust the BLURUSDT perpetual contract’s specifications, which include the tick size, maximum leverage, initial margin, and/or maintenance requirements.

In addition, Multi-Assets Mode will allow users to trade the BLURUSDT perpetual contract using multiple margin assets with appropriate margin requirements. For example, when activating the Multi-Assets Mode, clients can use BTC as margin.

What is known about Blur? The NFT marketplace was launched in April 2022 by US crypto exchange Coinbase after raising $11 million in a funding round led by venture capital firm Paradigm. The platform stands out for its personalization capabilities and works similarly to major social networks: users can show personal information in profiles, subscribe to others, and like and comment. In February 2023, former BitMEX crypto exchange CEO Arthur Hayes invested in the marketplace.

On February 22, Blur announced the launch of a 300 million BLUR airdrop, one of the conditions for participation in which was activity on the platform. On the same day, a user under the nickname MachiBigBrother sold 536 NFTs, including a token from the BAYC collection for $128 000.

In February, the head of Blur revealed his identity. The co-founder of the platform, known under the nickname Pacman, turned out to be the founder of Namebase, Tieshun Roquerre.

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