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The price of the Blast token drops after the airdrop as some holders sell
The price of the Blast token fell more than 6% on Wednesday after developers distributed 17% of its supply to users who collected ether staking points earlier this year. After opening at $0.30, the token fell to $0.025 as some holders abandoned their positions.
Second CoinGeckoBlast now has a market capitalization of more than $385 million and a fully diluted valuation of $2.2 billion. The network will have a maximum supply of 100 billion tokens, of which 17.16 billion are now in circulation. Second Blastscanthere are now 54,341 $BLAST token holders, a number that is expected to continue to grow.
Blast has grown to become the industry’s sixth largest blockchain by total value locked (TVL). Data compiled by DeFi Llama shows that the network has 128 DeFi applications and a TVL of over $1.6 billion. There are $4.4 billion in stablecoins in the ecosystem.
The best Blast players
Some of the best Blast players are Thruster, Juice Finance, Hyperlock Finance, Ring Finance, and Renzo. Blast gained this popularity thanks to its points system that allows users to earn points when making transactions on the network. This makes it the only EVM chain with a native yield for ETH and stablecoins.
Blast joins other leading platforms that have launched their airdrops this year. Not moneya tap-to-earn platform from Telegram, it launched in May and its token has a market capitalization of more than $1.5 billion.
Other notable airdrops this year included the likes of Wormhole, zkSync, Zeta Markets and LevelZero. Most of these tokens fell after their airdrops, but bounced back when cryptocurrencies stabilized.
The next closely followed airdrops will be EigenLayer, TapSwap and Hamster Kombat. EigenLayer is the largest restake platform on Ethereum while TapSwap and Hamster Kombat are the largest tap-to-earn platforms on Telegram.