Blast, the chain that achieved a TVL of $2 billion the fastest.
Written by 1912212.eth, Foresight News
Blast, which was originally scheduled to be released at the end of May, recently officially announced its governance token plan. The total supply is 100 billion tokens, with 50% airdropped to the community and an initial airdrop of 17 billion tokens. In addition, 25.5% is allocated to core contributors, 16.5% to investors, and 8% to the Blast Foundation. As part of the transition to a decentralized governance structure, the project’s Twitter, website, and Blast protocol governance are being transferred to the control of the foundation.
OP and Arbitrum have gained attention due to the airdrop, while ZKsync has become a “negative example”. Since the launch of the airdrop, the community’s reputation for Blast has been disappointing. According to Bitget market data, BLAST is currently priced at $0.025.
Blast has attracted a lot of attention from the beginning, but now it seems deserted. How has it developed? Let’s analyze the data through nine charts.
Total number of participating users exceeds 1.56 million, with daily active users surpassing 150,000.
Blast launched its testnet in mid-January this year and officially launched its mainnet on March 1. According to its official website, the total number of users has reached 1.56 million.
On the first day of its mainnet launch, the number of daily active users exceeded 70,000, but then quickly declined. However, it quickly increased again under various incentive activities such as point rewards. On June 24th, the number of daily active users reached 150,000, double the number at the launch of the mainnet.
Total TVL reached a record high of $3.46 billion.
Although Blast’s testnet was launched in January this year, its open staking started on November 21 last year, and it surpassed $100 million TVL on the second day, $400 million on November 24, and became the third-largest Ethereum L2 with over $667 million on December 2, only second to Arbitrum and OP. On December 26, its TVL exceeded $1 billion.
It is worth mentioning that on February 25th this year, TVL exceeded $2 billion, making Blast the fastest chain to reach $2 billion TVL. In May, it reached a peak value of over $3.4 billion.
Cross-chain Ethereum exceeds 479,709 tokens.
According to Dune data, since the launch of its mainnet, the amount of ETH through the cross-chain bridge has reached 479,709 tokens, accounting for 62.25% of the total cross-chain volume. stETH accounts for 26.81%, while USDC, USDT, and DAI account for 10.94%.
Open Ethereum staking and the highest number of active users at the launch of the mainnet.
The number of independent users has increased significantly since the open staking of Ethereum at the end of last year and the launch of the mainnet in February 2024.
The cumulative number of new users quickly reached its peak after the mainnet launch.
Top 10 wallet addresses account for 20.87% of total funds.
In the crypto world, big holders are always present in open airdrop events. The top holder of Blast, with a single wallet address, accounts for 3.61% of the Blast holder’s funds. The top 10 Blast holders account for 20.87% of the total Blast holders.
USDB is the fifth in terms of usage and the fourth in terms of user holdings among stablecoins.
Blast is a chain with native stablecoins. According to data from June 21, the 24-hour trading volume of USDB reached $115 million, with a holding number of 217,000, ranking fifth in terms of activity. Its total market value has exceeded $400 million.
USDB and WETH rank in the top three in terms of yield.
Among liquidity pools with over $40 million, USDB can achieve a yield of 17.3-32.6% on Blast. WETH can achieve a yield of 7.6-10.5% on Blast.
Native DApps account for over 75% of the total.
Most EVM chains are filled with similar applications, but Blast’s native DApps account for over 75% of the total, far exceeding the other three major L2s.
Lending and spot trading reached $500 million TVL within four months.
The spot trading protocol Thruster has become the 7th largest DEX protocol, with a TVL exceeding $500 million in about 80 days after the mainnet launch. Another lending product, Juice, also reached $500 million in the same period and has become the 9th largest lending protocol.
Tags:
Blast
Ethereum
Data
Airdrop