Blur will close its marketplace website on Nov. 12 after monthly NFT trading plunged from $1.43 billion at its 2023 peak to under $7 million. Its Blend lending service will stop arranging new loans, while Ethereum smart contracts remain live.

  • Monthly volume fell more than 99.5% from March 2023 to March 2026.
  • BLUR dropped more than 20% after the closure news.
  • Blend borrowers must repay or face default by Nov. 12; a withdrawal tool is planned afterward.

This is a stark warning: an on-chain marketplace can survive technically while its business and token narrative bleed out. BLUR holders still control the fee switch, but traders should watch liquidity and execution risk before treating that as a turnaround catalyst.