Blast TVL surpasses $2B ahead of this week’s mainnet launch

Blast players have locked assets worth over $2 billion ahead of the project’s mainnet launch on Feb 29. Blast supports the Blur NFT marketplace with L2 solutions.

Blast has reached $2 Billion in TVL.

157,638 community members are now earning yield + Blast Points.

Stay tuned for Mainnet, February 29! pic.twitter.com/qHUYTHhupg

— Blast (@Blast_L2) February 27, 2024

Meanwhile, participants who have locked their cryptocurrency tokens in Blast’s bridge will earn Blast points and yield.

Blast’s upcoming mainnet launch

The Ethereum Layer2 chain, designed to back the Blur NFT ecosystem, prepares for its Thursday, Feb 29, mainnet launch.

Blast TVL remained elevated since November last year, skyrocketing to $2,000,242,968 as of Feb 2024. That came as market players sent or locked assets on Blast’s bridge.

Meanwhile, the extension has over 157,638 active community members. Individuals earn Blast points through referrals and asset staking. The staked tokens will remain locked until the mainnet launch.

Understanding Blast

Blast is an Ethereum-based Layer2 solution and an extension to the popular NFT marketplace Blur. The former promises innovative technology and unique offerings to transform the L2 market.

While awaiting its mainnet release, the Blast team has integrated a multi-sig wallet for users to pre-fund their accounts and earn interest on stablecoin and Ethereum while enjoying Blast points.

BLUR price outlook

BLUR exhibited bearish tendencies amidst the development, dropping 4.55% within the past day to trade at $0.7346 at press time.

BLUR 1D Chart on Coinmarketcap

Moreover, the altcoin might dip further as the much-anticipated mainnet launch might be a ‘sell-the-news’ development. That will see holders trimming their BLUR portfolio, triggering downward price actions.

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