News - Blast distributes US$2.3 billion

By Luc Vesters

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.

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Records from Arkham Intelligence show that Blast investors have already withdrawn $500 million, presumably to turn a profit.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.

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