Blur Token Plummets 29% as Marketplace Prepares for Frontend Shutdown

The company confirmed the closure via social media on October 12, emphasizing that the underlying on-chain protocol will remain operational. While the website frontend disappears, the BLUR token will retain its role in governing the protocol’s fee switch. For the Blend lending arm, the deadline forces a hard stop: borrowers must settle outstanding loans by November 12 or face default. The team plans to release a dedicated withdrawal tool for users after the transition, though specific operational details remain scarce.

Financial data reflects the severity of the market sentiment. BLUR trading volume spiked to $42.6 million, while its market capitalization contracted to roughly $38.75 million. This decline adds to a broader year-long slump, with the token losing over 77% of its value during the past twelve months. The decision follows a recent trend of consolidation within the ecosystem, including the planned shutdown of the Blast layer-2 network, which founder Tieshun “Pacman” Roquerre attributed to unsustainable operating costs. As Blur prepares to deprecate its primary access point, the team has issued warnings against fraudulent sites attempting to exploit the transition period.