Crypto
Blast Layer 2 Network Shuts Down Amid Rising Competition
Ethereum layer-2 network Blast is shutting down after more than two years of operation. The network's total value locked (TVL) has fallen to about $32 million from a peak of over $2.2 billion in June 2024, a decline of around 98%.
The revenue generated by the network has also decreased significantly, falling to approximately $1,793 in September 2026 from a peak of roughly $3.5 million in June 2024.
The shutdown comes as competition among Ethereum layer-2 networks increases, with major crypto platforms like Coinbase and Robinhood developing their own blockchain networks.