- BLAST started with a positive price movement after the launch.
- The TVL network has continued to decline.
The recent launch of the Blast cryptocurrency airdrop marked an impressive start for the asset, with its value rising significantly. However, despite the strong initial activity, the total value locked (TVL) on the network saw a decline.
Explosive cryptocurrency launches
Blast X (formerly Twitter) announced the launch of the Blast cryptocurrency airdrop on June 26. According to the announcement, users will have 30 days to claim their airdrop.
In this initial distribution, Ethereum users [ETH]
The layer 2 scaling network will receive 17 billion BLAST tokens in total. The network was created by the developers of the incentivized NFT marketplace, it was blurred.
Crypto explosion in the last 24 hours
Since its launch, Blast crypto has shown a notable increase in activity, according to data from CoinMarketCap. With an initial price of around $0.20, the token’s value rose to approximately $0.025 by the end of its launch day.
It experienced a slight increase to around $0.029 at the start of the current trading session before stabilizing around $0.026.
In the last 24 hours, Blast’s market capitalization has increased by more than 20% and has exceeded $441 million. Furthermore, trading volume has been strong and has been recorded at over $674 million.
This suggests a high level of trader interest and market activity around the new cryptoasset.
The volume of the explosion increases
Analysis of the Blast crypto network on DeFiLlama revealed a significant increase in trading volume on June 26, coinciding with the launch of its airdrop.
Volume skyrocketed to over $304 million, marking the highest volume in the history of the Layer 2 network. This volume spike surpassed the previous high on June 24, when it reached over $288 million.
Despite the increase in trading volume, the total value locked (TVL) on the network has decreased. The downward trend in TVL began around June 23 and continued despite the influx of airdrop activity.
Source: DefiLlama
Initially on June 23, the TVL stood at over $1.9 billion, but has since declined to approximately $1.54 billion.
This decline in TVL suggests that while the launch generated considerable commercial interest, it has not translated into a sustained increase in the value locked within the network – at least not yet.
Next: Cryptocurrency exchange Abra reaches $82.1 million settlement with 25 US states
This is an automatic translation of our English version.
