Claim $500Blast Blockchain Secures Sixth Spot In DeFi Network Rankings
Highlights
- Blast L2 blockchain has recently secure the sixth spot in TVL within DeFi network rankings, per data by DeFiLlama.
- The L2 recently ruled out an upgrade to support blobs.
- A look into Blast's Web3 venture.
In an unprecedented development witnessed within the Web3 landscape, Blast, an Ethereum Layer 2 (L2) blockchain, has recently taken the market by storm, securing the sixth spot in TVL (Total value locked) among all blockchains. Overtaking Base, a layer-2 (L2) blockchain network developed by Coinbase, Blast runs just behind Arbitrum, boasting a TVL of $1.87 billion, per data by DeFiLlama.
The buzz around the recently launched blockchain, Blast, is growing louder in the DeFi community. It’s now positioned just below the big players like Ethereum, Tron, BSC, Solana, and Arbitrum, making a landmark across the industry.
Blast L2 Advances With Web3 Journey
Blast’s monumental growth promptly after its inception into the Web3 realm has garnered noteworthy interest in the layer 2 blockchain. Notably, with its TVL increasing at a phenomenal rate, the blockchain has offered great user appeal.
The increased TVL primarily indicates that it offers a stockpile of enhancements, such as improved security and liquidity, which in turn generates more user participation for the blockchain within the DeFi industry. Further, per a post shared by the platform on X recently, an upgrade for the blockchain is also in the pipeline.
According to the post, Blast will undergo an upgrade to support blobs (Binary Large Objects) on Monday, May 27, at 2 PM PT (Pacific Time). Blobs are basically a type of data storage space on blockchains. This upgrade will enable the blockchain to store additional binary data apart from transactional data.
Coupled with the blockchain’s recent securing the sixth spot by TVL, per DeFiLlama data, this development further pushes the L2 to scale greater heights moving ahead.
Also Read: PEPE Vs FLOKI: Who Will Hit $0.001 First?
More About Blast
Intriguingly, Blast’s rapid ascent to one of the top chains underscores the L2’s potential to rise even further. Its official platform spotlights an active user base of 1.17 million. Further, it is also worth mentioning that Paradigm and Standard Crypto back the L2.
CoinGape Media reported earlier this year that Blast has also been integrated along Onto, further revolutionizing its DeFi journey.
Also Read: 350,000 Ethereum Options Expire Today With Max Pain Point of $3200, What’s Ahead?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Another U.S. Government Shutdown Looming JAN 31? Congress Left Town With No Deal
- Are XRP and Midnight Ahead in Tokenization? Cardano’s Hoskinson Sparks Debate Amid Canton Push
- Breaking: U.S.-China Tensions Heat Up as China Imposes New Sanctions; Bitcoin Falls
- BlackRock Hints at a Big Sell-Off As $27B In Crypto Options Expire
- Aave DAO vs Labs: Aave Founder Pledges Clearer Economic Alignment as DAO Rejects Brand Asset Transfer
- Cardano Price Eyes a 40% Surge as Key DeFi Metrics Soar After Midnight Token Launch
- FUNToken Price Surges After MEXC Lists $FUN/USDC Pair
- Bitcoin Price on Edge as $24B Options Expire on Boxing Day — Is $80K About to Crack?
- Crypto Market Rebounds: Are Bulls Positioning for a Santa Rally?
- XRP, Bitcoin, Ethereum Price Predictions Ahead of Jan 2026 CLARITY Act and US Crypto Reserve Plans
- Pi Network Analysis: Pi Coin Price Surges on Christmas Eve, Can It Hit Year-End Highs?
