Blast Blockchain attains sixth position among big-time players

Blast blockchain now holds the sixth position amongst the big-time players in the industry with regard to DeFi assets. It is seemingly gaining the attention of added builders and users towards itself. Its total value locked (TVL) has reached over $1.9 billion. Business houses such as Ethereum, Tron, Solana, BNB Chain, and Arbitrum are ahead of it. 

If its website is to be taken into consideration, Blast has managed to accumulate more than 1.7 million users, along with TVL amounting to $2.7 billion. At the moment, anybody can guess which figure is accurate. 

As for its TVL, Blast has surpassed Avalanche and Coinbase’s Base, Polygon, Sui, Cardano, and Algorand. Avalanche is known to come with more than $1.49 billion in assets, whereas Base stands at $1.76 billion, with Cardano reaching $390 million. 

These facts are noteworthy since the coins of Avalanche and Cardano have a high value. Avalanche’s token has a market capitalization of $15.7 billion, while Cardano’s is more than $17 billion. 

Blast’s stablecoin assets have crossed the $406 million mark, an extremely encouraging figure. 

As per observations, Blast’s ecosystem is witnessing exponential growth. The giant in the ecosystem, Juice Finance, has been able to collect more than $517 million in the form of assets. In another case scenario, Thruster, a decentralized exchange, has reached $511 million. It is known to have managed more than $100 million in a single day. 

The Blast blockchain also includes big-time players such as Hyperlock Finance and Renzo, along with Ring Protocol, Particle, and Orbit Protocol. Put together, they have collected more than $100 million in assets. 

Blast is an Ethereum layer 2 network that supports Paradigm and Standard Crypto. It differs from networks such as Polygon and Optimism by providing conventional yield for Ether and stablecoins, including Tether (USDT) and USD coin.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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