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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