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16-05-20244 min read
News - Blast distributes US$2.3 billion
With the launch of the Ethereum scaling blockchain Blast, investors will have access to $2.3 billion of ETH they had tied up on the platform since November 2023.
To recap, Blast is the L2 with native yield. ETH and stablecoin balances on Blast are automatically yield bearing. This increases capital efficiency for users and unlocks new possibilities for Dapps.
— Blast (@Blast_L2) February 29, 2024
With the price explosion in recent months - Ethereum has risen more than 80 percent since November - the value of the locked-in capital has also grown tremendously.
Records from Arkham Intelligence show that Blast investors have already withdrawn $500 million, presumably to turn a profit.
Blast is an Ethereum Layer 2 project launched by the founder of the NFT marketplace Blur. The blockchain aims to improve the efficiency, cost-effectiveness and usability of processing non-fungible tokens (NFTs) and serves as Blur's own layer 2 network.
