The recent launch of the Blast crypto airdrop marked an impressive start for the asset, with a significant rise in value. However, despite the strong initial activity, the total value locked on the network experienced a decline.announced the launch of the Blast crypto airdrop on the 26th of June. According to the announcement, users will have 30 days to claim their airdrop.layer-2 scaling network are set to receive 17 billion BLAST tokens collectively.
It saw a slight rise to approximately $0.029 at the beginning of the current trading session before stabilizing around $0.026. Over the past 24 hours, Blast’s market capitalization has surged by more than 20%, reaching over $441 million. Additionally, the trading volume has been robust, recorded at over $674 million.The volume soared to over $304 million, marking the highest in the history of the Layer 2 network. This peak in volume surpassed the previous high on 24th June, when it reached over $288 million.
Despite the surge in trading volume, the Total Value Locked in the network has been on a decline. The downward trend in TVL began around the 23rd of June and continued despite the influx of activity from the airdrop.Initially, on 23rd June, the TVL stood at over $1.9 billion. However, it has since decreased to approximately $1.54 billion.
This decline in TVL suggests that while the launch generated considerable trading interest, it has not translated into a sustained increase in value locked within the network, at least not yet.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.