Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%

Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Ethereum layer-2 network Blast is shutting down, a little over two years after its launch, as fading activity has left the blockchain unable to cover its operating costs.

“Unfortunately, the economics of operating the chain no longer make sense,” the project said Friday in a post announcing the closure.

“The ongoing costs of maintaining Blast exceed the revenue generated by the L2, and we do not see a credible path to making the chain economically sustainable.” Its native token, BLAST, fell 19% after the announcement, extending a steep decline since its debut.

The token is now down about 98% from launch.

At its launch, Blast drew heavy interest early on.

Before the network even went live in 2024, users had deposited more than $1.1 billion, fueled in part by expectations of a token airdrop, CoinDesk reported at the time.

The chain’s economics deteriorated quickly as speculative capital moved elsewhere and activity faded.

Total value locked peaked over $2 billion in June 2024, according to DeFiLlama, and has since fallen to only $32 million.

Meanwhile, Blast generated just $1,793 in revenue from network usage last month, down from a peak of about $3.5 million in June 2024, DeFiLlama data shows.

Its demise points to a broader shakeout among blockchain networks.

Analiz: Piyasa hareketliliği devam ediyor.