Business
Blast Token Distribution Update
Stay updated on the latest Blast Token distribution details. Learn about the latest developments and distribution process in the crypto world.
Blast, the innovative layer 2 blockchain platform, has recently distributed 17% of its native token supply to users who actively farmed points by staking ether (ETH) earlier this year. This distribution marks a significant milestone for the Blast ecosystem.
Token Performance and Market Cap
Upon its debut, the Blast token entered the market at an initial price of approximately $0.03. This launch resulted in an initial fully diluted market capitalization of $3 billion, as reported by Ambient Finance. The token’s performance and market cap are closely watched by investors and industry experts alike.
Project History and Criticism
Blast faced scrutiny last year when it introduced a one-way token bridge that allowed users to deposit funds but prevented them from withdrawing until the blockchain went live. Despite this, the project managed to attract a substantial $2.3 billion in deposits between November and March. The project’s history reflects its journey through challenges and successes.
Current Market Position
As of now, Blast’s blockchain platform has over $1.62 billion in total value locked, positioning it as the second-largest layer 2 network following Arbitrum, according to data from CoinGecko. This demonstrates the platform’s growing presence and significance within the blockchain ecosystem.