On Wednesday, the value of Blast tokens witnessed a significant decline, falling more than 6% following the allocation of 17% of the total supply to participants who had previously engaged in ether staking activities. The token’s value plummeted from an opening price of $0.30 to $0.025, as a result of some investors liquidating their stakes.
As reported by CoinGecko, the market capitalization of Blast has surpassed $385 million, with a fully diluted market value reaching $2.2 billion. The Blast network is designed to have a cap of 100 billion tokens, out of which 17.16 billion are currently active in the market. Blastscan reveals that the number of $BLAST token holders stands at 54,341, a figure that is projected to rise.
Blast has ascended to become the industry’s sixth-largest blockchain based on the total value locked (TVL), with DeFi Llama data indicating the network’s support for 128 DeFi applications and a TVL exceeding $1.6 billion. Additionally, the ecosystem holds $4.4 billion in stablecoins.
**Key Contributors in the Blast Ecosystem**
Prominent entities within the Blast ecosystem include Thruster, Juice Finance, Hyperlock Finance, Ring Finance, and Renzo. Blast’s unique point system, which rewards users for their transactions on the network, has contributed to its distinction as the sole EVM chain offering native yields for ETH and stablecoins.
Blast is among the elite platforms that have initiated their airdrops this year. Notcoin, a Telegram-based tap-to-earn platform, executed its airdrop in May, and currently boasts a market capitalization exceeding $1.5 billion.
This year has also seen noteworthy airdrops from entities such as Wormhole, zkSync, Zeta Markets, and LayerZero. Although the value of these tokens initially declined post-airdrop, they have gradually recovered as the cryptocurrency market has stabilized.
The forthcoming airdrops from EigenLayer, TapSwap, and Hamster Kombat are garnering significant attention. EigenLayer stands as Ethereum’s largest restaking platform, while TapSwap and Hamster Kombat rank as the most prominent tap-to-earn platforms on Telegram.