This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Sigil, a fund based in Gibraltar, has recently made a significant move in the cryptocurrency market. According to Lookonchain data, the fund has sold its holdings of BLUR, a top-performing token, and acquired Lido DAO’s LDO and Immutable X’s IMX instead. The swap was executed on-chain through multiple transactions. This decision comes as a surprise, considering that BLUR has been performing exceptionally well in recent trading days, with its value more than doubling this week alone. BLUR has also seen a significant increase in trading volume and has been fueled by the anticipation of a 300 million BLUR airdrop in Season 2. Despite this, Sigil has chosen to exit BLUR and focus on core governance tokens in the decentralized finance (DeFi) sector. This move could be seen as an endorsement of DeFi’s resilience and growth potential, as well as a shift away from the speculative NFT market. Lido DAO is known for its role in Ethereum staking, while Immutable X provides a secure infrastructure for NFT trading. It remains to be seen whether the prices of LDO and IMX will continue to rise, as they are currently experiencing volatility. However, Sigil’s allocation change is a clear indication of their confidence in the DeFi sector.