Blast, an Ethereum Layer 2 network launched in early 2024, is shutting down later this month due to a sharp decline in activity and revenue. Once backed by major crypto venture firm Paradigm and boasting $2.3 billion staked, Blast saw its locked assets fall to $32 million and fee revenue drop from $3.66 million to just over $2,000 monthly. The BLAST token price has plummeted 99% from its peak. Users are urged to withdraw assets by October 26 before the network ceases normal operations. The shutdown highlights challenges in sustaining new blockchain networks amid fierce competition.
Ethereum Layer 2 network Blast's shutdown news comes with this market context from Pluang as of Oct 03, 2026 00:31 WIB: Among 50 major cryptocurrencies priced on Pluang, 25 rose and 24 fell today. Notable movers include COTI at Rp255 with a 7.77% increase and a typical hold time of 120 days, AXS at Rp21.782 up 6.31% with 72% buy order activity, and ALGO at Rp2.315 rising 4.14%. The most notable figure is COTI's 78% sell order activity.
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