Whale Becomes Largest Depositor on Blast
An unknown fund address known as ‘0x59a6’ has deposited 15,000 staked Ethereum (stETH) worth $31.52 million into the Ethereum L2 protocol Blast, making it the largest depositor on the platform.
Blast TVL Reaches $460 Million
The total value locked (TVL) on Blast has not exceeded $460 million, which highlights the increasing interest in Layer 2 solutions within the Ethereum ecosystem.
Mixed Reactions from the Crypto Community
There are mixed reactions from the crypto community regarding Blast. Some believe that it lacks Layer 2 functions and prefer to deposit their funds in platforms like Lido and Maker. Others view bridging to a chain with “risk-free returns” but no ability to bridge back as an unwise decision.
Founder Addresses Ponzi Scheme Concerns
The founder of Blur, Pacman, has responded to concerns about Blast’s invite-based rewards, stating that this concept is not new and has been used before.
BLUR Tokens Rise as Whales Accumulate
As more whales show interest in Blast, the price of BLUR tokens has also increased. After being listed on Binance, the price of BLUR rallied by 30%, resulting in a total increase of 90% within a week. The current price stands at $0.59 after some profit booking by whales.
Hot Take: Blast Gains Traction Among Whales and Institutions
Ethereum L2 protocol Blast is attracting attention from whales and institutions, with a significant deposit made by an unknown fund address. Despite mixed reactions from the crypto community, the platform’s TVL continues to grow, indicating growing interest in Layer 2 solutions. The founder of Blur has addressed concerns about Blast’s invite-based rewards, while the price of BLUR tokens rises as whales accumulate them. Overall, Blast is making strides in the crypto industry and gaining traction among key players.
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