PANews reported on August 20 that according to NFT Gators, the total locked value (TVL) of the Blast network has fallen by more than 60% since its record high of $2.3 billion in early June, and has fallen to $785 million as of August 5, the lowest level in six months. In addition, data from growthepie showed that on August 18, the number of daily users of Blast fell to 27,800, the lowest level since the launch of the Blast network in late February.
The sharp decline in Blast's key metrics suggests that decentralized finance (DeFi) projects and public decentralized networks should focus more on ensuring organic growth and paying attention to their communities and use cases. It turns out that the rapid growth of the ecosystem was driven by the much-anticipated airdrop. However, after the airdrop began in June, user reactions were mixed, with many users disappointed with the token claiming process and its distribution.