Bluzelle (BLZ) Price — Potential Risks as Whales Prepare to Sell
TL; DR
The BLZ coin is a native cryptocurrency of the Bluzelle blockchain, a decentralized storage platform.
The Bluzelle coin is experiencing a bearish moment.
If Bluzelle whales sell their BLZ holdings its price may fall further.
Introduction
Currently, there are more than one thousand cryptocurrencies and different non-fungible tokens which makes it very difficult for people to notice the full potential of certain digital assets.
Investors, often, concentrate on the leading digital assets, especially those in the top one hundred, based on market capitalization. However, many investors are tracking the price performance of Bluzelle due to its utility and market potential.
This post focuses on what Bluzelle is and its potential in the crypto market. We will also look at its current risks and price movement.
Bluzelle Overviews and Price Trends
The Bluzelle price attracted many investors when it rallied by over 425% from the beginning of August to 20 September, something that indicated that it has much potential. On 20 September it attained a price of $0.21. However, some analysts believe that bearish whale activity may force its price down.
The sad thing about Bluzelle is that it has failed to attract a significant number of new network users to support its recent price surge. As a result, its price dropped by around 40% since 20 September. However, the Bluzelle future is bright since it supports a viable blockchain with a service in high demand.
Bluzelle is a decentralized protocol that offers a scalable and secure data storage facility for decentralized applications (dApps). It is an advanced blockchain that supports various digital projects such as GameFi. Due to its seamless interoperability, scalability and fast transactions many dApps exist on its infrastructure.
As a result of its secure and efficient data storage facility many developers and businesses choose it over many other blockchains that offer the same service. On the other hand, the Bluzelle coin is very versatile as it supports a service that is in high demand in the digital sector.
Many people, for instance, buy BLZ and stake it to earn reward and secure the network since it uses the proof-of-stake consensus mechanism. Its holders also participate in its governance .
Bluzelle Price under Scrutiny
As hinted above, the sell Bluzelle whales are threatening to dispose of their BLZ coins which is likely to increase the cryptocurrency’s bearish pressure. Basically, the whales that recorded high losses in previous weeks may sell off their coins at any time.
According to LookOnchian, several whales moved BLZ coins to Binance exchange on 11 October, an indication that they are planning to sell them. As a fact, cryptocurrency wallets that hold at least 1% of its circulating supply or coins worth at least $100,000 are called whales. Since they hold many BLZ coins, if they sell much of them that creates great selling pressure which forces its price down.
Again, LookOnchian said that three sell Bluzelle whales hold a total of about 27% of its circulating supply. Therefore, if these sellers dispose of them its price may fall significantly.
Worse still, the large sell offs may influence other retail investors to follow suit. In fact, when one of the whales deposited 12.16M BLZ, worth about $1.45M in Binance its value dropped by 14%.
As things look, it seems that two of the three whales’ trading activities are synchronized. What this means is that they may sell their Bluzelle coins at the same time which may have a high impact on its price. In fact, some analysts believe that an individual or institution could be the owner of the two whale addresses 0xBf2B and 0xE8F1.
Given the above situation it is possible that at least two of the whale wallet addresses may sell their BLZ coins at the same time.
An Increase of BLZ’s Net Inflow
Recent on-chain data confirms an increase in BLZ bearish momentum. According to the source, the Bluzelle exchange net flows increase hits a 14 month peak. For example, on 10 October BLZ’s exchange inflows exceeded the outflows by 8.3 million.
It is important to note that a cryptocurrency’s net flows is the difference between the coin’s exchange inflows and outflows. A positive net Flow indicates that inflows to exchanges are higher than the outflows. The geopolitical tension in the Middle East may be influencing investors to swap their BLZ positions with higher cap cryptocurrencies like Bitcoin and ETH.
BLZ Price Prediction
After analyzing the past and the present Bluzelle price movements it is clear that its price may fall below $0.09 in the next few days or weeks. The data which The Global In/Out of Money around Price (GIOM) has provided supports the fact that the BLZ bears may force its price down.
Also, the Global In/Out of Money shows that most BLZ holders purchased it when its price was around $0.09. Specifically, 1,030 addresses purchased 90.7 million BLZ coins at a maximum price of $0.085 as the next picture shows.
The GIOM data Bluzelle (BLZ) Price Prediction: IntoTheBlock
Based on the data on the image there are a few permutations. If the BLZ bulls regain control of the market investors may buy Bluzelle at $0.20. However, if the 1,330 million addresses that bought 159.9 million Bluzelle tokens at an average price of $0.15 sell them its bearish momentum may increase.
Catalysts for Bluzelle Coin
There are several factors that may influence the BLZ price. For example, BLZ’s limited supply is a catalyst for a price rise in the future. As a fact, the supply of BLZ is finite, meaning it cannot increase in the future. Therefore, if its adoption rate and demand increase the Bluzelle price may rise.
An improvement in the global economy may influence the price of BLZ. This is because many investors will have higher purchasing power. As such, they will be able to spend a greater proportion of their income on risk investments like cryptocurrencies.
If more developers create decentralized applications on the Bluzelle blockchain the demand for the BLZ coin may rise resulting in a higher price than now. Also, new developments related to the network like more listings, integrations, updates and upgrades may increase the demand for the cryptocurrency. Therefore, more investors may buy Bluzelle.
How to Buy Bluzelle on Gate.io
You can purchase BLZ at major cryptocurrency exchanges like Gate.io. To buy Bluzelle on Gate.io you need to have a verified account. You can fund it using any major cryptocurrencies like USDT and bitcoin.
After that you can easily convert the major cryptocurrency to BLZ. To do so you visit the spot trading section and select BLZ as the following diagram shows.
Once you click on Trade, you should select Spot as indicated below.
The next thing to do is to select the suitable trading pair like BLZ/USDT
Once you do that you will be able to convert USDT to BLZ.
Conclusion
Bluzelle, a coin that powers a decentralized storage facility, is experiencing a usdt 价格g bearish momentum. Its price may fall further if three whales sell their BLZ in the coming days. In the meantime, analysts believe that BLZ whose current price is $0.1850 may reach $0.20 in the next few days.
FAQs about Bluzelle
Is Bluzelle a good buy?
Bluzelle is a good asset to invest in since it has much utility. It powers the entire Bluzelle eco which consists of a decentralized storage facility for dApps. The decentralized storage service is in high demand due to an increase in the number of gaming and DeFi platforms.
How much is Bluzelle coin worth?
The Bluzelle coin, with a current market capitalization of $79,140,472, is trading at $0.185877. Its daily trading volume is around $50,075,705.41. Investors can buy BLZ at various cryptocurrency exchanges including Gate.io.
What is the price prediction for BLZ in 2025?
BLZ price should fluctuate between $0.195513 and $0.205289 in 2025. At the same time, by the end of 2023 it should be trading around $18.00. Read also BLZ price predictions for 2023-2030
How much is a BLZ coin worth in dollars?
A BLZ coin is worth $0.185877 although its value fluctuates from time to time. The value of the BLZ coin depends much on its current demand and utility. The BLZ coin drives the Bluzelle eco.
