Following its much hyped airdrop, the native token of Ethereum layer-2 network Blast, known as BLAST, saw a nice price jump of 40%. Are we rich yet?
Rocket fuel
The launch of BLAST was very awaited in the community, and it didn’t disappoint.
The token started trading at $0.02, giving it a fully diluted value of $2 billion, but since then, BLAST’s price has risen to $0.02414, based on CoinMarketCap.
This performance stands out when compared to other recent token launches such as zkSync and LayerZero, which have seen not grwoing, but price drops of 46% and 43% since their launch.
Gimme gimme gimme!
The airdrop distributed 17% of BLAST’s total supply to eligible users. 7% was allocated to those who had bridged Ether or USD on Blast to the network, and another 7% was given to users who contributed to the success of decentralized applications on the network.
The remaining 3% was reserved for the Blur Foundation to be used in future airdrops to its community.
While the airdrop was generally well-received, some crypto market commentators expressed disappointment.
There are always some naysayers. Arthur Cheong, co-founder of DeFiance Capital, mentioned that he expected the fully diluted value to be closer to $5 billion, rather than the $2 billion valuation. If the free money is only $2B, then it’s sh*t? Cmon!
The Blast network was co-founded by Tieshun Roquerre, also known as PacMan, the creator of Blur.
In November, some of Blast’s seed investors criticized the network for not having enough features to justify a one-way bridging mechanism that required users to lock up their ETH for several months.
Beware of scams!
As with many large-scale airdrop events this year, Blast’s airdrop attracted scammers. These fraudsters pose as legitimate entities to trick users into connecting their wallets and signing transactions. Scam transactions, of course.
Scam Sniffer, a crypto security service, reported that a user lost over $217,000 after signing multiple phishing signatures during the Blast airdrop event.
🚨 Beware of fake Blast phishing websites!
🕵️♂️ 10 minutes ago, a victim lost $217,947 due to signing multiple phishing signatures. 💸🔗 pic.twitter.com/GSJfjLSNht— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) June 26, 2024
Double check everything before interact airdrops! Don’t neglect this!
