Blast has recently surged in popularity, securing the sixth rank in total value locked (TVL) among all blockchains, as reported by DeFiLlama.
Blast, an Ethereum Layer 2 (L2) blockchain, has recently taken the market by storm, securing the sixth rank in TVL (total value locked) among all blockchains. This accomplishment is an unprecedented development that has been experienced within the Web3 ecosystem.
Based on the data provided by DeFiLlama, Blast has surpassed Base, which is a layer-2 (L2) blockchain network established by Coinbase. Blast is currently in second place, just below Arbitrum, with a total value of $1.87 billion. The DeFi community is witnessing a growing buzz around the recently released blockchain, Blast.
It is a significant milestone for the industry as a whole that Blast now ranks only below the major players in the sector, such as Ethereum, Tron, BSC, Solana, and Arbitrum. There has been a significant amount of interest in the layer 2 blockchain as a result of the phenomenal growth that Blast experienced shortly after its introduction into the Web3 domain.
Blast L2 Advances With Web3 Journey
Notably, the blockchain has delivered a significant amount of consumer attraction, as evidenced by the extraordinary rate at which its TVL has been expanding. The rising TVL is essentially indicative of the fact that it provides a variety of benefits, such as greater security and liquidity, which in turn promotes more user engagement for the blockchain within the distributed finance industry.
Additionally, the platform on X recently released a post indicating the ongoing development of an upgrade for the blockchain. The post states that on Monday, May 27, at two o’clock in the afternoon Pacific Time, Blast will be doing an upgrade that will allow it to support blobs, which are binary large objects.
Blockchains use a specific type of data storage space known as “blob”. With this enhancement, the blockchain will be able to store more binary data in addition to transaction data. Taking into consideration the fact that the blockchain has recently secured the sixth spot by TVL, as indicated by the statistics provided by DeFiLlama, this new development further propels the L2 to soar to greater heights in the future.
The Blast’s swift ascent to one of the top chains highlights the L2’s potential to rise even further, which is an intriguing development. The official platform highlights one million and seventeen hundred thousand active users. In addition to this, it is important to point out that both Paradigm and Standard Crypto support the L2 protocol.