{"id":135908,"date":"2024-08-21T10:30:18","date_gmt":"2024-08-21T07:30:18","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135908"},"modified":"2024-08-21T03:02:28","modified_gmt":"2024-08-21T00:02:28","slug":"blast-network-faces-severe-drop-in-tvl-and-user-activity","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/blast-network-faces-severe-drop-in-tvl-and-user-activity\/","title":{"rendered":"Blast Network Faces Severe Drop in TVL and User Activity"},"content":{"rendered":"<p>Recently, Blast\u2019s TVL has <strong><a href=\"https:\/\/defillama.com\/chain\/Blast\" rel=\"nofollow\">plummeted<\/a> <\/strong>by an alarming 62% from its peak, following a substantial $300 million liquidity loss reported in early August.<\/p>\n<p>The network\u2019s woes are further underscored by a sharp drop in daily active users, which had fallen to 27,800 as of August 18\u2014the lowest since Blast began its expansion in late February. This is in stark contrast to competitors like Base and Arbitrum, which boast 740,000 and 360,000 daily active wallets, respectively.<\/p>\n<p>This user decline follows a problematic airdrop in June and growing dissatisfaction among users and developers.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-135889\" href=\"https:\/\/cryptodnes.bg\/en\/mango-markets-offers-settlement-to-sec-over-alleged-violations\/\" title=\"Mango Markets Offers Settlement to SEC Over Alleged Violations\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/10\/Mango-Markets-gID_6-1-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Mango Markets Offers Settlement to SEC Over Alleged Violations<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Prominent projects such as Pacmoon, the largest memecoin on Blast\u2019s network, are now seeking alternatives. Pacmoon\u2019s Lamboland criticized Blast for its lack of community and cultural engagement, stating,<\/p>\n<blockquote><p><em>\u201cBlast failed to address these crucial aspects and built a system that focused on token creation without providing necessary social support.\u201d<\/em><\/p><\/blockquote>\n<p>Furthermore, the network has faced criticism over its launch approach, notably the bridge feature, which left users unable to withdraw their funds for a prolonged period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blast Network, an Ethereum layer-2 scaling solution, is experiencing significant setbacks, with major declines in both its total value locked (TVL) and daily active users, raising doubts about its long-term viability.<\/p>\n","protected":false},"author":3,"featured_media":37522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[23,22],"tags":[385],"coin_category":[],"class_list":["post-135908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-others","tag-arbitrum"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blast Network Faces Severe Drop in TVL and User Activity<\/title>\n<meta name=\"description\" content=\"Blast Network, an Ethereum layer-2 scaling solution, is experiencing significant setbacks, with major declines in both its total value ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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