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Blur Ethereum is the biggest loser in NFT Market with over 5000 ETH loss

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According to the report, according to the data of ultrasound.money, the total destruction amount of Blur Ethereum in the NFT market has exceeded Chainlink and …

Blur Ethereum is the biggest loser in NFT Market with over 5000 ETH loss

According to the report, according to the data of ultrasound.money, the total destruction amount of Blur Ethereum in the NFT market has exceeded Chainlink and exceeded 5000 ETH, which is 5124.27 ETH up to now, about US $9 million.

The total destruction of Blur Ethereum on the NFT platform exceeded 5000ETH

Interpretation of the news:


According to a report based on data obtained from ultrasound.money, in the world of Non-Fungible Token (NFT) market, Blur Ethereum has suffered the most significant loss with their total destruction amount exceeding that of Chainlink. The destruction amount has surpassed the 5000 ETH benchmark, worth around US$9 million.

The NFT market has picked up tremendously over the past year, attracting investors and prominent artists. The market is becoming more popular, especially given the significance that NFTs have brought to the table in unique ways for selling and trading digital art items. NFTs are the hottest new component in today’s booming cryptocurrency world. Unfortunately, the volatile nature of cryptocurrency investment comes with an expected loss, which has been the case for Blur Ethereum.

A destruction event in NFTs can occur when users wished to remove an NFT from circulation or accidentally lock their NFT. When this happens, ETH tokens that are sent to the smart contract which holds the NFTs will be burnt, and the NFTs cannot be recovered again. In the case of Blur Ethereum, it seems that users have lost or accidentally destroyed their NFTs by sending ETH to the respective smart contract.

Chainlink has also suffered a significant NFT loss, with their destruction amount standing at 3611 ETH, approximately US $6.6 million. However, it is essential to note that Chainlink is valued at a higher price than Blur Ethereum, and the number of tokens burnt is in comparison an accurate representation of the overall market impact.

In conclusion, the loss incurred by Blur Ethereum, which is said to be the highest in the NFT market, shows that the cryptocurrency market is not without risk, and investors need to be aware of the associated risks. The NFT market is relatively new, and it is not yet seen to what extent this market will develop. Thus, an investment in such a market should be done with caution, and investors should do their due diligence before venturing.

Therefore, the report serves as a warning to investors to consider current trends and comprehensive data before investing in NFT’s or Cryptocurrency at large.

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