This Whale Astonishingly Becomes Largest Depositor On Ethereum L2 Blast Bridge
Ethereum L2 protocol Blast by Blur NFT marketplace team is making strides in the crypto industry as whales and institutions grab their share of the staking-based blockchain. Meanwhile, Tieshun Roquerre, also known as “Pacman,” the founder of the NFT marketplace Blur, has also addressed concerns about his newly launched L2 platform Blast.
Whale Is Now Largest Depositor on Blast
On-chain data expert Scope Protocol reported on November 25 that a whale or unknown fund address ‘0x59a6’ deposited 15,000 staked Ethereum (stETH) worth $31.52 million into Ethereum L2 protocol Blast. The wallet address has now become the largest depositor on the Blast bridge.
Blast TVL has not exceeded $460 million. This development marks a significant step in the Ethereum ecosystem, showcasing the growing interest in Layer 2 solutions.
The crypto community has mixed reactions, with some saying it’s an L2 without L2 functions, often deposits are made to Lido and Maker. While many think it’s an insane decision to bridge to a chain that takes “risk-free returns” while not being able to bridge back.
Also Read: Cathie Wood’s Ark Invest Offloads More GBTC Holdings, Buys Robinhood Shares
Blur & Blast Founder Clear Ponzi Scheme Concerns
The founder of Blur, Packman, addressed the FUD surrounding Blast’s invite-based rewards, stating that the invite system is not a fresh idea, but rather an established concept that has been around for some time.
As Blast continues to grab whales’ attention, BLUR tokens also rise after the second airdrop. CoinGape earlier reported that 25 whales accumulated BLUR tokens and staked mostly purchased tokens as the Blur NFT marketplace introduced staking.
BLUR price rallied 30% after the world’s largest exchange Binance listed BLUR, making the total rally in a week to 90%. The price currently trades at $0.59, after some profit booking by whales.
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