Data: Blast TVL fell 62% from its all-time high, and the number of daily active users fell to the lowest level in six months

Odaily News Blast’s total locked value (TVL) has fallen 62% from its all-time high, and the number of daily active users has fallen to its lowest level in six months. As Ethereum’s second-layer scaling network, Blast has experienced massive user churn and faced challenges after the June airdrop. In early August, the network lost more than $300 million in liquidity, and its TVL fell from $1.1 billion to $785 million, the lowest point in six months. According to data from growthepie, Blast’s daily active users fell to 27,800 on August 18, the lowest level since the expansion plan was launched in late February. In contrast, Base and Arbitrum have more than 740,000 and 360,000 daily active wallets, respectively. Not only are airdrop participants dissatisfied with Blast’s strategy, but some teams building projects on Blast are also frustrated. For example, Pacmoon, once the largest meme coin on the second-layer network, is migrating to Solana. Pacmoon’s Lamboland said on the X platform: “We believe that tokens, community, and culture are the keys to the success of blockchain. However, Blast never paid attention to these. In fact, they created a system where the native token on Blast was suppressed and provided no support.” (nftgators)