Ethereum Layer-2 network Blast has announced a shutdown after saying operating costs had exceeded revenue, with liquidation starting on Oct. 2. Coinbase said it will suspend BLAST trading on Oct. 20, and users must withdraw their assets by Oct. 26. After that date, any related asset operations will need to go through Blast’s bridge contract on Ethereum. Other trading platforms, including BTSE, Bitvavo and Bybit, have also moved to delist or suspend BLAST. The token is down about 99% from its peak and was recently quoted at roughly $0.00024. Blast’s total value locked has also fallen sharply, dropping from a peak of $2 billion in June 2024 to about $24 million to $32 million, according to the report cited by Odaily.
Odaily reported that Ethereum Layer-2 network Blast is shutting down after saying its operating costs had exceeded revenue, with liquidation starting on Oct. 2.
On the exchange side, Coinbase will suspend BLAST trading on Oct. 20. Users must withdraw assets by Oct. 26. After that, related operations will need to be handled through Blast’s bridge contract on Ethereum.
BTSE, Bitvavo and Bybit have also announced delistings or trading suspensions for BLAST.
As for market performance, BLAST has fallen about 99% from its peak and was recently trading at around $0.00024. Blast’s total value locked, or TVL, has also dropped sharply, falling from a $2 billion peak in June 2024 to roughly $24 million to $32 million.
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