Blast Shuts Down Due to Unsustainable Operating Costs

The Ethereum layer-2 network Blast is shutting down due to unsustainable operating costs. The team stated that revenue generated by the network can no longer cover its ongoing expenses, leaving them without a 'credible path' to sustainability.

Blast's TVL peaked at $2.2 billion in June 2024 but has since declined by over 98%. This contraction is a warning sign for networks relying on ecosystem activity to cover costs.

The team is reducing withdrawal delays to 24 hours, but users will need to withdraw through the standard interface until Oct. 26. After that date, assets can be withdrawn directly from Blast's Ethereum bridge contracts.