Blast, an Ethereum Layer 2 solution, has secured a $5 million investment from the Japanese cryptocurrency investment firm CGV. This capital injection comes on the heels of $20 million in funding from major venture capital players like Paradigm, Standard Crypto, and Mechanism Capital.
Launched on November 21st by Pacman, the founder of Blur, Blast has quickly gained adoption in the crypto community. Within 48 hours of launch, the network achieved $570 million in Total Value Locked (TVL) and attracted over 50,000 users. In its first week, Blast saw an inflow of $310 million.
Blast has reached $570 Million in TVL within 1 week.
63,948 community members are now earning yield (~4% for ETH and 5% for stables) + Blast Points.
There's been incredible inbound developer interest since launch. We'll share more for devs soon as we march towards Mainnet
Blast Secures $5 Million From CGV to Power Web3 Innovation on Its Burgeoning Layer 2 Network
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