Ethereum Layer-2 Blast has created unprecedented hype on social media and has seen over $225 million in staked ETH (stETH) and stablecoins deposited since Monday, despite withdrawals being shut until March.
With the influx of liquidity, Blast has become the seventh-largest holder of staked ETH.
Blast Faces Skepticism Despite Hype
Blast, a layer-2 blockchain that is set to go live in March, has attracted over $225 million worth of staked ETH (stETH) and stablecoins. However, it has received considerable backlash and skepticism from many crypto users and investors. Blast describes itself as the first layer-2 network that incorporates native staking. Blast plans to generate yield through ETH staking and real-world assets. Layer-2 networks are built on top of Layer-1 blockchains like Ethereum and help make transactions faster and cheaper.
The pseudo-anonymous @PacmanBlur heads the protocol. @PacmanBlur is also one of the founders of the Blur NFT marketplace. One of the reasons behi
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