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Blue Fire was obtainable by being in a crew which was 1st on the crew leaderboard. Since crews were removed, this became limited and tradeable.
Blue Fire isn't doing that terribly anymore, its demand has significantly improved over these past few days. Its now often looked for by traders, and usually goes for base value now (however it still gets lowballed in higher demands). It has no issues going for 28M in mid demanded items such as Green LVL5 or Celsior + Airtail/Brulee.
Supply is widely distributed — no single holder owns enough to register as a hoarder.