Ethereum Layer 2 network Blast is shutting down as costs exceed revenue, urging users to withdraw by Oct. 26.

Blast, an Ethereum Layer 2 network founded by Blur's creator, is shutting down because its operating costs have surpassed its revenue, making it economically unsustainable. Users are advised to withdraw their assets to the Ethereum mainnet by October 26, with a temporary pause in withdrawals expected during the process of pulling assets out of Lido. The network saw a dramatic drop in value locked from over $2 billion in mid-2024 to about $32 million currently. The team aims to ensure a smooth shutdown and will provide detailed withdrawal instructions before the deadline.

Blast's market cap on Pluang is Rp346.47 million as of Oct 03, 2026 01:52 WIB, reflecting its steep decline amid the shutdown announcement. The token's price dropped 37.27% in one day to Rp5, with all Pluang order activity showing sell orders and a typical hold time of just 20 days. Meanwhile, Ethereum trades at Rp47,617,048 with a market cap of Rp5.852 trillion, showing a more stable but modest 2.00% decline on the same day.