Binance, the largest crypto exchange by volume, announced the launch of a perpetual futures contract for NFT marketplace Blur's governance token with up to 20x leverage. However, the response from large token holders, or whales, has been mixed. One whale purchased 1.39 million Blur governance tokens for $1 million, while another sold 1.77 million tokens for $1.2 million, incurring a loss of approximately $295,000. Blur has seen declining volumes in recent weeks, with some claiming that the NFT marketplace marketed for professional traders is not particularly friendly for mainstream NFT traders. Rival NFT aggregator OpenSea Pro has seen significant increases in active addresses and transaction volumes, comprising 70% of the market in terms of daily active users. However, Blur has a slight lead in daily volume share among NFT aggregators at 51% to OpenSea Pro's 46%.

(By Adam James)