LD Capital: BLZ short-term funding analysis*Premium

Original author: Jill, LD Capital

I. Project Introduction

Bluzelle (BLZ) is a decentralized data management system that aims to provide tools, resources, and technical capabilities for storing and managing data. It is supported by BFT and Cosmos technologies, bringing scalability and uncensored data storage to dApps.

Essentially, Bluzelle is a peer-to-peer database hosting marketplace that connects users who want to rent storage space with users who have excess storage space. It offers maximum security and scalability. Memory sharers are compensated in the form of BLZ, the native token of the network, which can be used to acquire additional storage space, while users can pay reasonable fees to use it.

II. Project Progress

Bluzelle was established in 2014 and initially provided payment systems for financial institutions such as AIA, Maybank, and Temenos.

ni nj nk nw nm nn no nx nq nr ns fp bj" data-selectable-paragraph="">In August 2017, Bluzelle received $1.5 million in funding and established its vision of becoming a decentralized database.

In 2019, the project released a new version of the white paper, introducing a new product called "Bluzelle DDN", which is a decentralized edge cache that competes with centralized CDNs. This product was launched in May 2019.

In November 2019, the team announced a new product roadmap for Curie, shifting the focus of development from a decentralized database to a decentralized cache database. The testnet was launched in March 2020.

In August 2020, the team announced that the mainnet will be launched in two phases, starting with a soft mainnet that allows users to purchase Bluzelle (BLZ) tokens and participate in the network's validation process to earn rewards.

In February 2021, Bluzelle launched the production mainnet and released a new roadmap, planning to introduce the latest version of Cosmos Stargate.Enter the Cosmos ecosystem.

On May 20, 2021, Bluzelle announced that due to the current market conditions, the launch of the new phase will be postponed until the market stabilizes.

By February 2023, the Stargate upgrade will be completed, and Bluzelle will connect with the Cosmos ecosystem. BLZ token holders will be able to move their tokens in and out of Cosmos and Osmosis.

3. On-chain Data

The total supply of BLZ tokens is 500 million, with a current circulation of 410 million, accounting for 82% of the total. The remaining tokens are held in the Bluzelle company wallet.

In terms of on-chain address activity, there has been a significant increase in on-chain activity in the past month, and there was a noticeable large-scale transfer on August 16. It may be necessary to pay attention when there is an abnormal large transfer on the chain, and whether this abnormal behavior represents a possible position building by major investors may also need to be comprehensively judged in combination with token price trends, changes in holding addresses, and other factors.

From the recent changes in the holding addresses of the past month, there are two addresses that have engaged in large-scale transfer activities:

• On August 16th, the address 0xbf2b1 withdrew a total of 5,696 million tokens from Binance

• From August 15th to August 18th, the address 0x8ef12 withdrew approximately 3,890 million tokens from Binance

The total holdings of these two addresses has reached 110 million tokens, accounting for 21.96% of the total supply.

Meanwhile, looking back at the price trend of BLZ in the past half year, it can be observed that there was a sudden increase in price starting from August 12th. Prior to that, BLZ was in a relatively low price range, which coincided with the timing of large holders withdrawing coins from exchanges. And up until now, BLZ has been steadily rising.

If you check the BLZ token address holdings, you will find:

1) The top 30 token addresses currently account for 87.77% of the holdings, with the first place being the official BLZ address

2) The exchange address holdings account for 39.42%, with Binance being the best trading venue for BLZ liquidity, accounting for 32.55% of the holdings

3) The whale address holdings account for 31.97%, with the two aforementioned whale addresses already accounting for 21.96% of the holdings.

Summary: Bluzelle is a relatively old project with slow development progress and no significant fundamental changes in the recent period. It is currently in a relatively bottom price range with large whale addresses making purchases.

The above analysis is only the author's personal opinion and does not constitute any investment advice. Please invest cautiously.