Blast Hit $1Billion Crypto Liquidity
The Layer 2 blockchain from the non-fungible token market platform Blur, known as Blast, has surpassed the $1 billion mark in crypto liquidity bridged. Data compiled by Dune Analytic shows that Blast garnered massive traction a few weeks after its launch.
The Blast Layer 2 network is part of the plan to relieve transaction costs associated with digital assets and launch new trading instruments and yield-generating opportunities. It has garnered an enthusiastic response from investors and traders.
Blast Set To Launch An Airdrop In May 2024
Blast is scheduled to launch an airdrop in May 2024. This program will offer rewards in Blast points and a yield of around 5% on staked digital assets. However, the project has faced criticism and skepticism from certain quarters of the crypto community, decrying the practice as a Ponzi scheme.
Most notably, the marketing efforts for the platform were also called into question by the various parties. The General Partner and Head of Research at Paradigm Venture Capital Firm has spoken against the project’s marketing campaign, stating that they did not want to accept deposits before the blockchain was live.
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Hot Take: Blast Poised For Meteoric Rise
Blast has created massive waves in the cryptocurrency community, reaching $1 billion in bridged liquidity and attracting significant investment and attention. Yet, concerns about its legitimacy remain a heated point of contention. Whether Blast will overcome this skepticism and become a revolutionary force in blockchain technology remains to be seen.
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