Blast Network Shuts Down as BLAST Token Trading Halts

Blast, an Ethereum Layer-2 network, has announced it will shut down due to rising operational costs surpassing its revenue. The network revealed this decision on October 2, 2026, marking the end of its operations. Coinbase, one of the major exchanges supporting the BLAST token, has decided to halt trading on October 20, 2026, giving users until October 26, 2026, to withdraw their assets.

The BLAST token has experienced a dramatic decline, losing approximately 99% from its all-time high. Following the shutdown announcement, the token's value dropped an additional 19-47%, now trading around $0.00024. Multiple platforms, including BTSE, Bitvavo, and Bybit, have also announced delistings or trading suspensions for BLAST.

At its peak in June 2024, Blast had over $2 billion in total value locked, but this figure has since plummeted to around $24-32 million. Monthly revenue has also declined sharply, from around $3.5 million to as low as $1,793. Layer-2 networks like Blast aim to make Ethereum transactions faster and cheaper, but Blast failed to sustain its operations due to unsustainable costs.

For remaining holders, the immediate priority is to withdraw assets before the deadlines. Coinbase users must act by October 20, 2026, for trading and October 26, 2026, for withdrawals. Blast users outside Coinbase face the same October 26, 2026, cutoff for the standard interface. After this date, users will need to interact directly with Blast’s bridge contracts on Ethereum, following a brief pause to allow staked assets to be extracted.