The long-awaited Ethereum layer-2 native token Blast (BLAST) soared 40% after launch, outperforming other well-known airdrops in recent weeks. BLAST launched at $0.02 per token, providing a fully diluted value (FDV) of $2 billion at launch. 😮

In contrast to recent token launches including Ethereum layer-2 network zkSync (ZK) and cross-chain interoperability LayerZero (ZRO), which fell 46% and 43% respectively, BLAST's price rose more than 40% to $0.0281.

The airdrop distributed 17% of BLAST's total supply, 7% of which went to users who moved Ether (ETH) or USD to Blast (USDB) onto the network since late last year.

However, the launch has attracted criticism from crypto market commentators, most of whom believe that the launch's valuation did not meet their expectations.