Blast Token Price Explodes After Blast Airdrop Debut

Bittime - Blast Token (BLAST) of Ethereum's layer-2 network exploded with a 40% price spike after its launch, surpassing the performance of other token launches. This article discusses BLAST's fully diluted value (FDV), criticism of its airdrop, and the market's response to the significant price increase.

Blast Token Price Explodes

Upon its release, the layer-2 network's native token Ethereum Blast (BLAST) surged 40%. This is better than other famous airdrops that have appeared on the market in recent weeks.

According to data from Ambient Finance and actor trading platform Aevo, BLAST had a fully diluted value (FDV) of $2 billion at launch, at a price of $0.02 per token. According to data from CoinMarketCap, the price of BLAST has risen a little over 40% to a value of $0.0281.

Comparison of Blast Token with Other Popular Token Launches

This is in contrast to recent popular token launches, such as Ethereum's Layer-2 network zkSync (ZK) and cross-chain LayerZero interoperability (ZRO), which have lost 46% and 43% respectively since their release.

The airdrop provided 17% of the total BLAST supply, with 7% going to users who bridged Ether ETHUSD or USD on Blast (USDB) to the network since the end of the previous year.

Airdrop Blast Gets Criticized

Decentralized applications (DApps) that contribute to success on the network receive an additional 7%, while the Blur Foundation receives an additional 3% for future airdrops to its community.

This airdrop was met with criticism from several crypto market commentators on X, mostly from those who found the launch evaluation unsatisfactory.

Airdrop Blast Allegedly Lures Fraudsters

Like the Wormhole Blast cross-chain bridge protocol airdrop event, which attracted many scammers throughout X this year, Since airdrops typically require crypto users to connect their wallets and sign transactions to claim the tokens awarded to them, fraudsters often choose large-scale airdrop events to pose as legitimate-looking copycats.

Conclusion

Following its release, Ethereum's layer-2 network's Blast Token (BLAST) launch has seen a massive price increase of 40%. This is better than other token launches such as zkSync (ZK) and LayerZero (ZRO), which have seen significant price drops since their release.

The BLAST airdrop awards a number of tokens to users who bridge Ether (ETH) or USD on Blast (USDB) to the network, as well as to decentralized applications (DApps) that contribute to the network and the Blur Foundation.

Although BLAST's evaluation has received criticism, BLAST airdrops also attract fraudsters because large airdrop events are often their targets.

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