Blast Network Faces Sharp Decline in TVL and User Activity Amid Airdrop Fallout 😱
#Blast , an Ethereum layer 2 network, has seen its Total Value Locked (TVL) drop 62% from its peak, plunging from $2.3 billion to $785 million after a June airdrop.
Despite recovering $100 million, liquidity struggles continue. Daily active users also fell to a six-month low of 27,800 by August 18, far below rivals like #Base and Arbitrum.
The decline stems from mixed reactions to the airdrop, a lack of community focus, and dissatisfaction from projects like #Pacmoon , which is now moving to Solana.
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