Blur’s bidding pool currently has a total value locked (TVL) of $68M as of August 21st, as the pool continues to decline alongside BLUR’s token price. The total ETH deposited into Blur had plateaued since mid-April before nosediving in August as BLUR’s price plummeted. The BLUR token has been on a straight decline, from $0.7 on April 15th to $0.22 on August 1st, a whopping 68.6% drop.
This is likely due to token dilution from token emissions and the lack of utility at present, aside from governance. Further, farmers have made a net loss providing bid-side liquidity in a dwindling market while the 300M+ BLUR tokens allocated for Season 2 continue to shrink in dollar terms.
The situation does not look good. Notable whales are removing their bids, there is no clear sign of Season 2 ending, and there are no new buyers in the NFT market.