Blast is still "exploding" after the big airdrop?

Blast is currently the 7th largest total value locked (TVL) blockchain network, with nearly 1.5 billion USD in assets.

Since the mainnet launch, Blast's performance metrics have generally reflected positive results. In mid-June, Blast even surpassed OP Mainnet in terms of transaction volume and active wallet addresses. Although still behind Arbitrum One and Base, both of these indexes have grown steadily since Blast launched mainnet.

With support from many big names in the industry, Blast has grown to become the 7th largest network by total value locked (TVL), with nearly 1.4 billion USD in current assets. Blast retains users because of its attractive interest rates, a factor that many competitors have overlooked.

Another factor that contributes significantly to Blast's success is the airdrop. However, this is not a surprising event, as the protocol introduced the "Blast Points" reward model early on. As scheduled, Blast reserves 50% of the total 100 billion tokens for the community and will distribute them scatteredly over the next 3 years.

The first airdrop of 17% of the total supply took place on June 26. Two days ago, Blast started the second airdrop with an allocation of up to 10 billion tokens.

So will the above impressive achievements continue after Blast releases 17 billion tokens? The answer is yes!

In general, there was no sudden increase in the number of wallets or transactions on the network after the airdrop on June 26. The 7-day average transaction volume decreased from more than 1 million on June 23 to only 798,000 on June 30, but this number is still quite high. The number of active wallets also decreased significantly, with 134,000 addresses interacting with Blast every day.

The BLAST token also experienced a typical sell-off from airdropped users. On the first day of trading, BLAST's market capitalization quickly reached $493 million, but has dropped to $367 million at press time.

It can be concluded that Blast still maintains its position, unlike many other platforms that often face a decline after the announcement of the snapshot period. The most obvious evidence is that ZKsync and the second airdrop still "drowned" the project's FDV by 40%.