Blast Token Debuts at $3B Value as 17% of Supply Airdropped to Early Adopters

Blast is the second largest layer 2 network with $1.6 billion in TVL.

AccessTimeIconJun 26, 2024 at 2:23 p.m. UTC
Updated Jun 26, 2024 at 2:26 p.m. UTC

Blast, the layer 2 blockchain, has distributed 17% of its native token supply to those that farmed points by staking ether (ETH) earlier this year.

The token debuted at around $0.03 with an initial fully diluted market cap of $3 billion, according to Ambient Finance.

The project was scrutinized last year after it opened a one-way token bridge that allowed users to deposit but not withdraw until the blockchain was live. Blast attracted a total of $2.3 billion in deposits between November and March.

The blockchain currently has $1.62 billion in total value locked, making it the second largest layer 2 network after Arbitrum, according to CoinGecko.

Edited by Aoyon Ashraf.


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Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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