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

By:
on Feb 27, 2024
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  • Blast total value locked skyrockets as enthusiasts await this week’s mainnet launch.
  • The Blur extension has more than 157K community members.
  • Blast is an ETH L2 platform designed by the team behind Blur NFT protocol.

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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.

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

Blast’s upcoming mainnet launch

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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

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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

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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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