The price of the BLUR token has reacted positively to the report of listing on Binance.
Leading crypto exchange Binance has announced support for the BLUR token, adding it to the thousands of other cryptocurrencies that the platform already supports. According to the Friday announcement, spot trading for BLUR/BTC, BLUR/USDT, and BLUR/TRY opens immediately at exactly 09:00 UTC. So, Binance has advised users to start depositing BLUR while they wait for trading to officially open.
Withdrawals of the native token of Blur – the world’s largest NFT marketplace – however, will not open until November 25, at 06:00 UTC.
In addition, the exchange says it will start offering BLUR as a new borrowable asset with the BLUR/USDT pair on Isolated Margin. But that is expected to take place within 48 hours from when the spot trading opens.
Binance to Add Seed Tag to Token
It might be worth mentioning that Binance has included a condition in its support for BLUR. The exchange says it will apply the Seed Tag to BLUR, meaning that it is a new project that may pose higher volatility and risks than many of its other listed tokens.
However, the reason for that may not be far-fetched considering that the exchange has recently found itself a subject of scrutiny by several authorities. Moreover, the BLUR token is truly a relatively new one, given that it launched on February 14 this year.
With the seed tag, Binance users will only have continued trading access to the token as long as they pass the corresponding quizzes every 90 days on the Binance Spot and/or Binance Margin platforms. That, and repeatedly accepting the Terms of Use.
The reason is so that Binance can be sure that users are fully aware of the risks attached to trading the tokens. And more importantly, to ensure that such users have opted to make the trade anyway.
BLUR Token Surges 30%
Expectedly, the price of the BLUR token has reacted positively to the report of listing on Binance. As of publication, the nearly-forgotten token has pumped over 28% in the past 24 hours and was seen trading at $0.6276. That is according to CoinMarketCap data.
