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Blast, one of the most prominent EVM-compatible protocols that use Optimistic Rollups, has launched its mainnet, which will unstake significant cryptos.
The continuous evolution of the blockchain has created several opportunities for the traditional and other finance categories. Several blockchain-based crypto products have launched their mainnet in the last few quarters.
Blast is one of the most prominent EVM-compatible protocols that use Optimistic Rollups; it was launched in 2023. The Ethereum Layer-2 Network launched its mainnet, which will unlock $2.3 Billion crypto locked on the network. The L2 was launched on February 29 at 9:00 pm UTC.
Blast noted on its X account, “To recap, Blast is the L2 with native yield. ETH and stablecoin balances on Blast are automatically yield-bearing. This increases capital efficiency for users and unlocks new possibilities for Dapps.”
“During our Early Access phase, 181,888 community members bridged $2.3B to Blast. These community members are earning $85 million per year in native yield + Blast Points,” the community further writes.”
The ecosystem adds, “At the same time, 3000+ teams started building on Blast ahead of the Mainnet launch. Teams have built Dapps that can only exist on Blast using Blast’s native yield and gas sharing primitives.”
Other Market News
Most recently, Dogwifhat (WIF), a Solana-based meme coin, got listed on the European hand of Robinhood. WIF has topped the gainers list of the memecoin community in the past few weeks.
In the past 365 days, Dogwifhat’s price grew over 450%, and when writing, it was trading at $0.958. Dozens of analysts and crypto social media influencers promote the meme coin.
The United States government recently moved a significant amount of seized BTC from two different wallets.
These bitcoins were seized by the federal government from Bitfinex in 2016. The transfer was initiated soon after BTC broke the much-awaited resistance of $60,000 and reached $63,000.
Crypto Market Overview
A significant boost in global cryptocurrency adoption has been seen since the beginning of 2024; the market capitalization also grew significantly. When writing, the market cap, the market was $2.32 Trillion.
Bitcoin, the market’s most prominent and adopted crypto, has surged over 20% in the past seven days. Several market observers claim that the spike in the trading price is solely backed by the recently approved Bitcoin spot ETF.
Following the approval of spot ETF, a massive inflow of billions of dollars of funds is seen in the Bitcoin ecosystem. BlackRock unveiled its plan to launch the BTC spot ETF in Brazil. The intraday trading volume of BTC spot ETF is $5.38 Billion, and the market capitalization is $51.18 Billion. BRRR offers the spot ETF at the lowest price, and Franklin BTC ETF charges the lowest fee for buying and selling the ETF. When writing, the market cap was $2.32 Trillion.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
