Layer 2 network Blast said it will cease operations because network revenue can no longer cover maintenance costs. After the announcement, South Korea’s two major crypto exchanges, Upbit and Bithumb, placed BLAST on their trading caution lists. HTX market data showed the token had fallen more than 25% in total, changing hands at $0.000294. Its market capitalization was about $20 million at the time of the update. The move puts fresh pressure on BLAST as exchange risk labels and the project’s shutdown notice hit the market at the same time.
On Oct. 3, Layer 2 network Blast said it will stop operating because network revenue is no longer enough to cover maintenance costs.
After the announcement, South Korea’s two major crypto exchanges, Upbit and Bithumb, both placed BLAST on their trading caution lists. According to HTX market data, BLAST fell more than 25% in total, trading at $0.000294, with a market capitalization of about $20 million.
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