Bitcoin
Bitcoin (BTC)
$97,896.00 4.59121
Bitcoin price
Ethereum
Ethereum (ETH)
$3,146.38 1.42672
Ethereum price
BNB
BNB (BNB)
$609.41 -0.59984
BNB price
Solana
Solana (SOL)
$240.59 1.25253
Solana price
XRP
XRP (XRP)
$1.11 -1.49476
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000024 -1.65938
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000192 -4.05691
Pepe price
Bonk
Bonk (BONK)
$0.0000506 -6.29409
Bonk price
dogwifhat
dogwifhat (WIF)
$3.10 -5.30316
dogwifhat price
Popcat
Popcat (POPCAT)
$1.52 -8.27802
Popcat price
Bitcoin
Bitcoin (BTC)
$97,896.00 4.59121
Bitcoin price
Ethereum
Ethereum (ETH)
$3,146.38 1.42672
Ethereum price
BNB
BNB (BNB)
$609.41 -0.59984
BNB price
Solana
Solana (SOL)
$240.59 1.25253
Solana price
XRP
XRP (XRP)
$1.11 -1.49476
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000024 -1.65938
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000192 -4.05691
Pepe price
Bonk
Bonk (BONK)
$0.0000506 -6.29409
Bonk price
dogwifhat
dogwifhat (WIF)
$3.10 -5.30316
dogwifhat price
Popcat
Popcat (POPCAT)
$1.52 -8.27802
Popcat price
Bitcoin
Bitcoin (BTC)
$97,896.00 4.59121
Bitcoin price
Ethereum
Ethereum (ETH)
$3,146.38 1.42672
Ethereum price
BNB
BNB (BNB)
$609.41 -0.59984
BNB price
Solana
Solana (SOL)
$240.59 1.25253
Solana price
XRP
XRP (XRP)
$1.11 -1.49476
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000024 -1.65938
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000192 -4.05691
Pepe price
Bonk
Bonk (BONK)
$0.0000506 -6.29409
Bonk price
dogwifhat
dogwifhat (WIF)
$3.10 -5.30316
dogwifhat price
Popcat
Popcat (POPCAT)
$1.52 -8.27802
Popcat price
Bitcoin
Bitcoin (BTC)
$97,896.00 4.59121
Bitcoin price
Ethereum
Ethereum (ETH)
$3,146.38 1.42672
Ethereum price
BNB
BNB (BNB)
$609.41 -0.59984
BNB price
Solana
Solana (SOL)
$240.59 1.25253
Solana price
XRP
XRP (XRP)
$1.11 -1.49476
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000024 -1.65938
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000192 -4.05691
Pepe price
Bonk
Bonk (BONK)
$0.0000506 -6.29409
Bonk price
dogwifhat
dogwifhat (WIF)
$3.10 -5.30316
dogwifhat price
Popcat
Popcat (POPCAT)
$1.52 -8.27802
Popcat price

New Ethereum layer-2 network Blast sees a massive $310m inflow

new-ethereum-layer-2-network-blast-sees-a-massive-310m-inflow
Edited by
News
New Ethereum layer-2 network Blast sees a massive $310m inflow

Blast’s innovative layer-2 blockchain sees $310 million in deposits amidst users’ criticisms. 

Blast Bridge, a new Ethereum layer-2 blockchain, saw an inflow of $310 million in assets shortly after its debut. This significant influx of assets includes substantial deposits of 129,866.52 ETH through Lido and 42,587,100 DAI via Maker MSR.

Launched by the co-founder of NFT marketplace Blur and supported by Paradigm, Blast is charting a unique path in the layer-2 domain. Its introduction has seen a remarkable accumulation of staked Ethereum (stETH) and stablecoins, signaling strong market interest.

New Ethereum layer-2 network Blast sees a massive $310m inflow - 1
Blast’s on-chain data | Source: DeBank

Blast’s approach to blockchain technology and backing from high-profile entities like Paradigm and the crypto-native investor group “eGirl Capital” has captured significant attention. The platform’s native staking feature is designed to yield returns through Ethereum staking and real-world assets, offering a distinct avenue for user investment growth.

However, concerns have been raised about the risks associated with Blast’s operational model, particularly its reliance on the liquid-staking protocol Lido for exchanging assets for Blast points. Critics question the security and viability of locking total value locked (TVL) in a yet-to-materialize chain, suggesting possible weaknesses in the platform’s foundation.

The Blast Points system has also been a topic of controversy. Some community members compare it to a pyramid scheme, highlighting the inability of users to access their staked assets until the bridge’s activation. This strategy necessitates user engagement through Blast points, a mechanism that continues to be closely scrutinized by industry watchers and participants alike.