BLUR and LINK Move In Opposite Directions Despite the Former’s Token Unlock

• BLUR unlocked 49.46 million tokens, leading its price to increase by 16.31%.
• A trader lost 87,419 in USDC while trying to capitalize on LINK’s movement.
• While BLUR could drop to $0.60, LINK might lose hold of $15.

In two separate posts, Lookonchain disclosed that the Blur (BLUR) token unlock brought in a price increase while a Chainlink (LINK) trade went sideways for a trader. As per the BLUR post, Lookonchain mentioned that the project unlocked 49.46 million tokens on January 16. This brought the total unlocks to eight since it began on June 15, 2023.

49.46M $BLUR($32.55M) was unlocked 2 hours ago.

Since Jun 15, $BLUR has been unlocked once a month and 8 times in total, unlocking 534.74M $BLUR($355.39M).

In 5 of the previous 7 unlocks the price will increase after unlocking.https://t.co/EnxgaEAqeI pic.twitter.com/jbD8EEL1u7

— Lookonchain (@lookonchain) January 16, 2024

Token unlocks refer to the release of previously restricted tokens from circulation into the crypto market. For most cryptocurrencies, unlocks bring about a price decline due to increased supply However, BLUR seems to be an exception, as Lookonchain noted that five of its previous seven un…

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