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Blast token rallies 40% after $2B airdrop debut

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The native of the Ethereum layer 2 network BLAST rallied 40% following its debut at a $2 billion valuation, with 17% of its total supply being airdropped to eligible users.

The native token of the Ethereum layer-2 Blast has rallied following an airdrop in which 17% of the supply was sent to eligible users.

BLAST debuted for $0.02 per token, placing it at a fully diluted value of $2 billion at launch, according to aggregatedThe price of BLAST has since rallied a little over 40% to a value of $0.0281 at the time of publication, per CoinMarketCapIt comes in contrast to recent high-profile token launches, including Ethereum layer-2 network zkSync and cross-chain interoperability LayerZero . Both tokens have fallen 46% and 43% from launch, respectively.

Arthur Cheong, the co-founder of crypto investment firm DeFiance Capital said BLAST’s $2 billion FDV came as a surprise, as he expected a value closer to the $5 billion mark.criticized by its own seed investors in November

 

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