Blast Total Value Locked Surpasses $1 Billion Within 40 Days of Launch
During press time, the total value locked (TVL) of the layer-2 project, Blast, stands at $1.14 billion. However, the number of new depositors is declining gradually.
The airdrop of Blast is one of the most anticipated airdrops for 2024. Many users are depositing funds to Blast to become eligible for the airdrop.
Pacman Celebrates Blast TVL Milestone
Pacman, the co-founder of Blast and non-fungible token (NFT) marketplace Blur, wrote on X (Twitter) :
“Incredibly excited to close out the year with this milestone.
Web3’s power is that wins for protocols are wins for the entire community.
However, I think much more can be done to make sure that value creation goes to the end-users who are the lifeblood of the on-chain economy.
Excited for next year!”
The screenshot below shows that the Blast TVL is roughly $1.14 billion. Blast allocated $1 billion for staking on Lido . Whereas approximately $1 million is deposited with Maker to earn a yield on stablecoins. Lastly, over $3 million sits idle on the Blast wallet .
Read more: 11 Best DeFi Platforms To Earn With Lido’s Staked ETH (stETH)
Not to mention, the users’ funds stay locked on the Blast protocol until its mainnet launch in February 2024. Since its launch in November 2024, the project has received heavy criticism for its strategy of not allowing withdrawal until the mainnet goes live.
Dan Robinson, a researcher at one of the Blast’s investors – Paradigm, also criticized the project’s marketing and communications approach.
Nonetheless, over 82,000 wallets deposited their funds with Blast. However, the screenshot below shows that the new depositors’ graph has drastically declined. On December 20, the project had just 118 new depositors.
Read more: A Beginner’s Guide to Layer-2 Scaling Solutions
Do you have anything to say about the Blast TVL or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok , Facebook , or X (Twitter).
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here .
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions , Privacy Policy , and Disclaimers have been updated.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
38% Dogecoin Rebound, Cardano Tests AI Limits, But Unstaked’s AI Advantage Steals the Show
Dogecoin (DOGE) jumps 38%, and Cardano (ADA) launches an AI testnet, but Unstaked’s advanced AI agents go beyond marketing, offering real impact and value.Dogecoin (DOGE) Future: Aiming for $3.94 with MomentumCardano (ADA) Blockchain Tests AI ScalabilityUnstaked: AI That Goes Beyond MarketingFinal Take: Real AI Utility vs. Hype

ETH Trades at Historic Lows vs BTC Since 2019
ETH hits lowest value compared to BTC since 2019, raising questions on a potential rebound amid mixed fundamentals.ETH Undervalued Against BTC: A Historical SetupBullish History, Bearish FundamentalsPatience Required for Ethereum Bulls

Popcat Climbs, Dogecoin Stalls, But BTFD Triples Tokens with 200% Bonus—Best Meme Coin Presale to Buy Now Before May 26 DeadlineConclusion: Don’t Mis
BTFD Coin surges in Stage 15 with 90% APY staking and 200% bonus. Best meme coin presale to buy now before it launches on May 27!BTFD Coin (BTFD) – The Bulls Are Charging, Are You In?Dogecoin (DOGE) – The OG Meme King Facing Shaky GroundPopcat (POPCAT) – The Smart Money Magnet of the Moment

SHIBA’s Hype Fades, ADA Devs Work; Meanwhile, Web3 ai Becomes Highest Trending Crypto With $500K Frenzy
Explore Shiba Inu (SHIBA) recovery trends, Cardano (ADA) prediction backed by developer growth, and how Web3 ai’s Portfolio Optimizer replaces guesswork with smart strategy. Learn why Web3 ai is gaining traction among the highest trending crypto tools.Web3 ai’s Portfolio Optimizer Turns Guesswork Into GainsShiba Inu (SHIBA) Recovery Sparks Renewed Interest After Key Price ReboundCardano (ADA) Prediction: Development Surge Fuels Bullish OutlookStrategy Over Speculation

Trending news
MoreCrypto prices
More








