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Blast Token Surges 40% After $430M Airdrop, 17 Billion Tokens Distributed

Jun 27, 2024, 02:05 PM

The Blast token ($BLAST), the native token of the Ethereum layer-2 scaling solution Blast, has experienced significant market activity following its recent launch. On June 26, 2024, 17 billion $BLAST tokens were distributed to users, resulting in a surge in trading volume and a notable increase in the token's value. The token's price rallied by 40% after its $2 billion airdrop debut, distributing $430 million worth of $BLAST. Despite initial concerns about the token's valuation, $BLAST is currently trading at $0.0254 and has reached a market cap of approximately $2.4 billion. The token's trading volume on platforms like Thruster has exceeded $150 million, with over $12 million in total value locked (TVL). Additionally, $BLAST is now available for trading on various platforms, including Bybit and HTX, with opportunities for users to earn interest and rewards through liquidity provision and other activities. The airdrop saw 12.7 billion $BLAST claimed by 312.4k users, representing 85% of the released tokens. The airdrop has also led to a significant increase in daily fees generated on the Blast network, reaching a new all-time high of $1.23 million.