Blast

Token

BLAST

Blur

The native token of <a href="https://thecoinrise.com/ethereum-layer-2-blast-network-to-launch-airdrop-for-early-adopters/" rel="noopener noreferrer nofollow">Ethereum layer-2 network Blast (BLAST)</a> has made a notable entry into the market, surging 40% following its long-awaited launch. This performance stands out against other high-profile airdrops that have struggled recently.
<h2 id="span-style-font-weight-400-blast-price-rises-by-40-span">BLAST Price Rises by 40%</h2>
Initially priced at $0.02 per token, <a href="https://thecoinrise.com/blast-jumps-to-sixth-position-in-the-defi-rankings/" rel="noopener noreferrer nofollow">BLAST debuted with a fully diluted valuation</a> (FDV) of $2 billion, according to <a href="https://ambient.finance/trade/pool/chain=0x13e31&amp;tokenA=0x0000000000000000000000000000000000000000&amp;tokenB=0xb1a5700fA2358173Fe465e6eA4Ff52E36e88E2ad" rel="noopener noreferrer nofollow">data</a> aggregated from Ambient Finance and the perps trading platform Aevo. Since its launch, BLAST has seen its price rise by over 40%, reaching $0.0281 at the time of publication, based on CoinMarketCap <a href="https://coinmarketcap.com/currencies/blast/" rel="noopener noreferrer nofollow">data</a>.
In contrast, other recent token launches have not fared as well. Ethereum layer-2 network zkSync (ZK) and cross-chain interoperability LayerZero (ZRO) tokens have both seen significant declines, falling 46% and 43% from their respective launch prices.
<h3 id="span-style-font-weight-400-the-blast-airdrop-span">The BLAST Airdrop</h3>
The BLAST airdrop released 17% of the token’s total supply. Of this, 7% was allocated to users who bridged Ether (ETH) or USD on Blast (USDB) to the network starting late last year. Another 7% was distributed to users who contributed to the success of decentralized applications (DApps) on the network, while the remaining 3% went to the Blur Foundation for future airdrops to its community.
Despite its positive market reception, the airdrop has faced some criticism. Some market commentators on X (formerly Twitter) expressed disappointment with the launch valuation. Arthur Cheong, co-founder of crypto investment firm DeFiance Capital, <a href="https://x.com/Arthur_0x" rel="noopener noreferrer nofollow">remarked</a> that BLAST’s $2 billion FDV was surprising, as he had anticipated a valuation closer to $5 billion.
The Blast network, co-founded by Blur creator Tieshun Roquerre—also known by his pseudonym PacMan—faced criticism from its seed investors in November. They questioned the lack of sufficient features to justify a one-way bridging mechanism that required users to lock up their ETH for several months.
<h2 id="span-style-font-weight-400-scam-concerns-amid-airdrop-span">Scam Concerns Amid Airdrop</h2>
Like several other high-profile airdrops this year, including that of the cross-chain bridge protocol Wormhole, the Blast airdrop attracted numerous scammers on X. Scammers often <a href="https://thecoinrise.com/blockchain-fraud-group-resurfaces-all-you-need-to-know/" rel="noopener noreferrer nofollow">exploit large-scale airdrop events</a> by posing as legitimate-looking copycats, capitalizing on the requirement for crypto users to connect their wallets and sign transactions to claim their allotted tokens.
The crypto security service Scam Sniffer identified a user who fell victim to a Blast airdrop <a href="https://x.com/realScamSniffer/status/1805971626602926447" rel="noopener noreferrer nofollow">scam</a>, losing over $217,000 after signing multiple phishing signatures. These incidents highlight the ongoing risks associated with participating in airdrops, especially as scammers become more sophisticated in their tactics.
The post <a href="https://thecoinrise.com/blast-token-launch-sees-40-surge-amid-market-challenges/" rel="noopener noreferrer nofollow">Blast Token Launch Sees 40% Surge Amid Market Challenges</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Blast Token Launch Sees 40% Surge Amid Market Challenges

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