Blur- Blockchain for NFT marketplace

Blur- Blockchain for NFT marketplace

Blend is a peer-to-peer Blur’s perpetual lending platform that supports arbitrary collateral, including NFTs. It allows users to borrow ETH with NFT collateral. Blend Protocol contends that privacy is equally vital in this equation.

No oracle-

The blend is unlike any lending protocol, as it has no Oracle dependencies and no expires.

Main Features-

Blend Swap- Blend Swap ensures private transactions by using different wallets and cryptocurrencies for untraceable swaps. Blend Protocol makes it easy to swap from one currency to another or even bridge at a competitive cost.

Blend offers two new products. They are

Borrowing– People can borrow ETH against NFT as collateral

Buy now and pay later- Users can buy expensive NFT with low down payment. Currently, Blur users can use the blend on three NFT collections such as Azuki, Cryptopunks, and Milady Maker.

Lenders can earn interest on ETH plus Lending points on the Blur platform. NFTs are locked once the borrower accepts the loan offer. The borrower can repay at any time with no expiration. If the borrower is not able to repay on time lenders can initiate a Dutch auction refinancing option.

Competitive analysis

BLURUSD gained more than 90% in the past four days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $0.1029 and is currently trading around $0.1011.

The bullish invalidation can happen if the pair closes below $0.380. On the lower side, the near-term support is $0.60. Any break below targets $0.540/$0.430. Significant downtrend if it breaks $0.290.

The immediate resistance stands at around $0.750. Any close above confirms a minor pullback. A jump to $0.8755/$1 is possible. A surge past $1.175 will take it to $1.50.

It is good to buy on dips around $0.550 with SL around $0.380 for TP of $0.875/$1.

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