I'm baffled how to access a ceramic valve in order to replace it on this quarter turn sink tap. Here's the tap...

I can remove the arm...

...and unscrew the collar to lift it up a little...

...and unscrew the fixing plate that secures the tap to the sink...

...but I can't get to the valve because of the blob at the top, and I can't see anything else to undo.
I've tried (gently) tapping the blob off the top of the main stem from below, but it won't budge.
Any ideas, anyone?

I can remove the arm...

...and unscrew the collar to lift it up a little...

...and unscrew the fixing plate that secures the tap to the sink...

...but I can't get to the valve because of the blob at the top, and I can't see anything else to undo.
I've tried (gently) tapping the blob off the top of the main stem from below, but it won't budge.
Any ideas, anyone?