<p>Following the announcement that Binance, the leading crypto exchange by volume, would launch perpetual futures contracts for NFT marketplace Blur's governance token, large holders of the token — commonly called whales — have displayed a mixed response.</p> <p>Binance announced on April 27 that it would launch a <a href="https://www.binance.com/en/support/announcement/binance-futures-will-launch-usdⓢ-m-blur-perpetual-contract-with-up-to-20x-leverage-00b84a2f4a9b44e184722acdbb6d2629">perpetual futures contract to bet on the price of blur</a> against the stablecoin tether with up to 20x leverage. The blur/USDT contract will go live at noon UTC today.</p> <p>Earlier today, one whale <a href="https://etherscan.io/token/0x5283d291dbcf85356a21ba090e6db59121208b44?a=0xed0609a341e45e05187516ad9db8b408f8a8c051">purchased 1.39 million Blur governance tokens</a> with one million USD Coin at an average price of $0.72. The swaps took place via decentralized exchange aggregator 1inch.</p> <p>Conversely, another whale sold. A wallet with the Ethereum Name Service domain luggis.eth <a href="https://etherscan.io/tx/0x9a5d69b07701260f16904f4ee4393f9607b5cd9931617096a7ac3449e178a84d" target="_blank" rel="noopener">swapped</a> 1.77 million BLUR for 1.2 million USDC at an average price of $0.68 per token. This netted luggis.eth a loss of approximately $295,000, an on-chain analyst known as Lookonchain <a href="https://twitter.com/lookonchain/status/1651797998475804672">noted</a> on Twitter. Luggis.eth currently no longer holds any Blur governance tokens.</p> <p>The market price for Blur's governance token is currently $0.72, according to data from Etherscan.</p> <div id="attachment_228750"class="wp-caption aligncenter" style="max-width: 2678px;"><img class="has-caption size-full wp-image-228750" src="https://www.tbstat.com/wp/uploads/2023/04/BLURUSDT_2023-04-28_08-17-49.png" alt="tradingview chart showing the price of blur's governance token over the past week" width="2668" height="764" /><p class="wp-caption-text"><span style="font-size: 8pt;">The price of Blur's governance token has increased by more than 15% over the past week. Source: TradingView</span></p></div> <h2>Blur has fewer daily active users than OpenSea Pro</h2> <p>Blur itself has seen declining volumes over recent weeks — with some claiming the NFT marketplace marketed for professional traders isn't particularly friendly for mainstream NFT traders.</p> <p>"It's just been degens PvP'ing each other all year," one Twitter account <a href="https://twitter.com/AlwaysLiquid8d/status/1651574597571969024">tweeted</a>, referring to the platform's temporary incentive program encouraging bidding over organic trading.</p> <p>As The Block previously reported, rival NFT aggregator <a href="https://www.theblock.co/post/225457/opensea-pro-blur-transactions-volumes-addresses">OpenSea Pro saw significant increases in active addresses</a> and transaction volumes following its launch, taking the top share of transactions in a competitive market.</p> <p><a href="https://dune.com/onures/os-pro">OpenSea Pro's share of daily active users</a> has only increased since then. According to the data tracking platform Dune, it currently comprises 70% of the market.</p> <div id="attachment_228752"class="wp-caption alignnone" style="max-width: 1416px;"><img class="has-caption size-full wp-image-228752" src="https://www.tbstat.com/wp/uploads/2023/04/Screenshot-2023-04-28-at-8.28.38.png" alt="dune analytics chart showing share of dailyy active users on nft exchanges" width="1406" height="541" /><p class="wp-caption-text"><span style="font-size: 8pt;">OpenSea Pro's share of daily active users has increased steadily. Source: Dune / @onures</span></p></div> <p>However, Blur has a slight lead in daily volume share among NFT aggregators at 51% to OpenSea Pro's 46%.</p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>