DeFi
Blast Blockchain Secures Sixth Place in DeFi Network Ranking
In an unprecedented development observed within the Web3 landscape, Blast, an Ethereum Layer 2 (L2) blockchain, has recently taken the market by storm, securing the sixth place in TVL (Total Value Locked) among all blockchains. Surpassing Base, a layer 2 (L2) blockchain network developed by Coinbase, Blast runs just behind Arbitrum, with a TVL of $1.87 billion, per data from DeFiLlama.
The buzz around the recently launched blockchain, Blast, is growing louder around the world. Challenge community. It is now positioned just below big players like Ethereum, Tron, BSC, Solana and Arbitrum, which constitutes a benchmark in the sector.
Blast L2 moves forward with Web3 Journey
The monumental growth of Blast soon after its emergence in the Web3 domain sparked remarkable interest in the Web3 domain. layer 2 blockchain. Notably, with its TVL increasing at a phenomenal rate, blockchain has offered great appeal to users.
The increase in TVL primarily indicates that it offers a stock of improvements, such as improved security and liquidity, which in turn generates greater user participation in blockchain within the DeFi industry. Additionally, according to an article recently shared by the platform on X, a blockchain upgrade is also in the works.
According to the post, Blast will undergo an upgrade to support blobs (Binary Large Objects) on Monday, May 27 at 2:00 p.m. PT. Blobs are essentially a type of data storage space on blockchains. This upgrade will allow the blockchain to store additional binary data apart from transactional data.
Coupled with TVL’s recent achievement of sixth place on the blockchain, according to DeFiLlama data, this development further pushes L2 to reach greater heights in the future.
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Oddly enough, Blast’s rapid rise to one of the biggest chains highlights L2’s potential to rise even further. Its official platform boasts an active user base of 1.17 million. Additionally, it is also worth mentioning that both Paradigm and Standard Crypto support L2.
CoinGape Media reported earlier this year that Blast has also been integrated into Onto, further revolutionizing its DeFi journey.
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