“CryptoSlam Reports Only 1% of High-Value NFT Traders Promoting Transactions in Blur Market”

03/01/2023 23:50 • Blockchain Buzz • 137 views

According to reports, CryptoSlam, the NFT data analysis platform, said that about 1% of high-value NFT traders promoted most of the transactions in the Blur market. They obtained token incentive returns in this way. This behavior distorts the NFT market and puts traders at risk. Although CryptoSlam did not disclose the relationship between Blur’s high trading volume and its airdrop token trading data, it pointed out that the proportion of OpenSea’s sales volume was relatively low. The data showed that from February 14 to February 27, there were only 6.6 million dollars of sales volume, accounting for about 2.5% of OpenSea’s total trading volume of about 249 million dollars, which means that there are more organic NFT transactions on the OpenSea platform. （decrypt）

CryptoSlam: About 1% of high-value NFT traders drive most of Blur’s transactions

Interpret the above information:

The latest report from CryptoSlam, the NFT data analysis platform, indicates that only 1% of high-value NFT traders are promoting most of the transactions in the Blur market. These traders are receiving token incentive returns, which is distorting the NFT market and putting other traders at risk.

The report did not disclose a specific relationship between the high trading volume of Blur and the airdrop token trading data. However, it is clear that the proportion of OpenSea’s sales volume was relatively low throughout the period analyzed. From February 14 to February 27, sales volume on OpenSea amounted to only $6.6 million, which represents approximately 2.5% of the platform’s total trading volume of $249 million.

This data suggests that there are more organic NFT transactions on the OpenSea platform, as opposed to Blur, which seems to be fueled by a small group of high-value traders. This is an example of market manipulation and is not a sustainable or healthy long-term strategy for the NFT market.

The use of token incentives to promote trades in the Blur market is problematic for several reasons. First, it creates an artificial demand for certain NFTs, which drives up prices and makes it difficult for other traders to participate in the market. Additionally, token incentives are typically reserved for early adopters and insiders, which further exacerbates the problem of unequal access and centralization in the NFT market.

Overall, the report by CryptoSlam serves as a warning that market manipulation is a serious threat to the NFT market. It is important to encourage organic growth and fair trading practices to ensure that the market remains healthy and accessible to all.

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