As 2023 comes to a close, the cryptocurrency market has been abuzz with airdrops and sensational announcements. Among these, the Layer-2 project Blast has emerged with a Total Value Locked (TVL) reaching $1.14 billion. Despite this impressive figure, the influx of new participants has been on the decline.
Blast, in particular, is garnering attention within the community as one of the most anticipated projects for an airdrop in 2024. Users continue to deposit funds into Blast, hoping to benefit from the potential airdrop rewards.
Blur’s co-founder Pacman, an influential figure in the project, expressed his excitement about closing the year on a high note. He highlighted the importance of community gains in Web3 and the need for value creation to reach end-users, which he believes could be further optimized.
Blast’s TVL has surpassed the $1 billion mark, with significant investments, including $1 billion staked in Lido and around $1 million in assets sent to Maker for stablecoin yield generation. However, over $3 million remains idle in the Blast wallet, with no clear indication of its intended use.
Investors are also closely watching the funds locked in the Blast protocol, expected to remain until the mainnet launch in February 2024. This lock-up strategy has drawn criticism from investors who are concerned about the lack of liquidity until the mainnet goes live.
Despite the criticisms, especially regarding the project’s marketing and communication strategy, Blast has attracted investments from over 82,000 wallets. However, a significant decrease in new investors is evident, with only 118 new wallet owners joining the project as of December 20th.