Blur (BLUR) token fell to a record low of $0.01267 on October 13, following an announcement that the NFT marketplace would shut down its website on November 12, 2026. The token traded at $0.01347 at press time, down 28.43% over 24 hours, with 24-hour trading volume reaching $56.06 million.
The shutdown applies only to the website frontend. Blur announced that its marketplace protocol will remain operational on-chain, and BLUR will continue to control its fee switch. Blend, Blur's NFT lending protocol, will also stop matching new loans on November 12, requiring borrowers to repay by that date or risk default.
Declining On-Chain Activity
The marketplace shutdown follows a prolonged decline in Blur's on-chain metrics. Total value locked (TVL) currently stands at $22.63 million, down significantly from a peak of approximately $215.9 million on March 9, 2024.
Fee generation has contracted sharply over time. Blur's fees peaked at $25.58 million in the first quarter of 2023, falling to $2.33 million by the first quarter of 2025. In the third quarter of 2026, the protocol collected just $0.51, with no fees recorded in the past 30 days.
Additional pressure emerged in related metrics. Data shows WETH held in Blur's bidding pool decreased from approximately 6,991 to 6,703 between October 12 and 13. Blend's TVL dropped from $7.03 million to $5.69 million over the same period.
Blue-chip NFTs held as Blend collateral also declined by approximately 160 assets, with Azuki holdings falling from 271 to 229 and Pudgy Penguins dropping from 289 to 259.
