Source: Adobe/ 2ragon
Blast, a recently introduced Ethereum-based layer 2 network, is currently acquiring traction in the market after one unknown whale transferred a huge 10,000 ETH to the network.
The deposit was made on Wednesday today, simply 2 days after Blast went reside in “early gain access to” mode.
Worth over $20 million in fiat terms by today’s cost, the news of the enormous on-chain deal was shared on social networks platform X by the popular neighborhood member Farokh.
“Some degen transferred 10,000 ETH into BLAST,” Farokh composed, apparently surprised that somebody would transfer such a big quantity on a freshly released blockchain task.
Some degen transferred 10,000 ETH into BLAST. pic.twitter.com/GODo20RDTp
— Farokh (@farokh) November 22, 2023
Blast went live today
Blast was introduced by Tieshun “Pacman” Roquerre, who is likewise the creator of the non-fungible token (NFT) market Blur, on Monday today.
According to an X post from the group behind the network, the strategy is for Blast to end up being the very first Ethereum layer 2 platform to present an integrated yield design.
The task raised some $20 million in preliminary financing, and continued to see on-chain financial investments in excess of $55 million within hours of its launch.
Presenting Blast: The only Ethereum L2 with native yield for ETH and stablecoins.
We’ve raised $20m from @Paradigm and @StandardCrypto to develop the L2 that assists you make more.
Information on how to get early gain access to at the end of the thread pic.twitter.com/AYYmK8YFx4
— Blast (@Blast_L2) November 20, 2023
Ethereum-based layer 2 networks like Blast have actually ended up being more popular recently, partially thanks to increased deal charges and slower deals speeds on Ethereum’s base layer.
According to a report from blockchain intelligence company Messari from last month, layer 2 networks now represent almost two-thirds of all Ethereum deals.
According to Kunal Goel, a research study expert at Messari, the increased adoption of layer 2 networks in the 3rd quarter of this year is mostly an outcome of the growing adoption of Coinbase’s layer 2 network Base.
Given that the launch of Base in August, it has actually measured up to its expectations with growing deals and utilize cases and briefly taping more activity than Ethereum’s primary network at one point.
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