Blur Token Hits Record Low as Marketplace Shuts Its Website

BLUR fell to a record low of $0.01267 on October 13, after Blur said it will shut down its website on November 12. The token was trading at $0.01347, down 28.43% over 24 hours, with $56.06 million in volume, and the selloff followed Monday's announcement.

If you hold BLUR, the price is not the only thing changing. The same date that closes the frontend also ends new lending on Blend, the protocol's NFT lending service. Borrowers have until November 12 to repay, or they can let their loans default.

What Survives the Shutdown

Blur said the shutdown covers only the website frontend. The marketplace contracts keep working onchain, and BLUR holders keep control of the fee switch, the vote that decides whether the marketplace charges trading fees. The protocol is not being switched off. The page most people used to reach it is.

Blend is the exception. It stops matching new loans on November 12. Blur has promised a withdrawal interface for Blend assets after the deadline.

The Numbers Behind the Drop

Blur had already gone quiet by its own figures. DefiLlama shows the protocol with $22.9 million in total value locked, down 11.5% over 30 days, and $0 in fees and $0 in protocol revenue over the past 30 days. Cumulative fees stand at $70.82 million.

The token is down 39.6% over seven days and 30.5% over 30 days, trading at $0.013 with a market capitalization of $36.47 million and a fully diluted valuation of $37.62 million. Circulating supply is 2.909 billion out of a 3 billion maximum. The all-time high of $5.02 came on February 14, 2023, and BLUR now sits 99.8% below it.

Blast Went First

Blast, the Ethereum layer-2 also founded by Tieshun "Pacman" Roquerre, began its own wind-down ten days earlier. Users have until October 26 to withdraw through the network's interface. Unlike Blast, Blur has not publicly attributed its closure to operating losses.

Upbit Flagged BLUR

The Korean exchange Upbit is reported to have designated BLUR a trading-caution asset and suspended deposits from October 13, opening a review that could end its support for the token. Deposits sent after the cutoff may not be credited or recovered, and the review runs into late October. Upbit's own notice could not be read, and the details rest on a single chain of reporting, so treat them as unconfirmed.

Dates to Watch

• October 26: Blast users must withdraw through the network's interface.
• Late October: Upbit's review of BLUR's listing status.
• November 12: Blur's frontend closes, Blend stops matching new loans, and borrowers must repay or default.

After that, what stays is a set of onchain contracts, a fee switch controlled by BLUR holders, and a token 99.8% below its 2023 high.