This Altcoin Plunges More Than 20% on Closure Announcement: Deadline Set for Users!

BLUR’s price fell more than 20% after NFT marketplace Blur announced that it would shut down its trading interface next month and stop matching new loans on Blend on November 12.

According to The Block, Blur said in an October 12 announcement that it would shut down the marketplace interface where users buy and sell NFTs in November. Following the announcement, BLUR fell to around $0.015, while the token’s market capitalization dropped to around $44 million.

The closure decision applies to the interface users access; the on-chain marketplace protocol will continue to operate. The BLUR token will also retain its role in controlling the activation of fees on the protocol.

November 12 timeline for Blend users

Blur’s NFT-backed lending service, Blend, will stop matching new loans starting November 12, 2026. The company said borrowers can repay their loans by that date, while any loans that have not been repaid may be allowed to default.

After that date, a separate interface will be provided to help users withdraw their assets from Blend. This will provide a way to access withdrawals after the main marketplace interface shuts down.

Steep decline from billion-dollar volumes

Blur saw a major contraction in trading volume after a period of rapid growth in the NFT market. According to The Block data, monthly volume, which reached around $1.43 billion in March 2023, fell to less than $7 million in March 2026.

The closure announcement came after the decision to wind down operations at Blast, an Ethereum layer-2 network founded by Blur founder Tieshun “Pacman” Roquerre and developed by the same core team. Blur’s growth model, based on token incentives, had also come under criticism over its sustainability.

BLUR, which traded above $5 in early 2023, suffered another steep loss following the latest announcement.