The recent popular layer 2 network Blast has now surpassed a TVL (total value locked) of $620 million, which surpassed the TVL of Ethereum’s close competitor Solana on November 29.
Blast has currently reached a total of $622.5 million in TVL that users have been bridging in just the past few days. The bustling bridging of funds has continually surged since its announcement on November 21.
A prominent researcher, Evan Van Ness noted that while Blast TVL broke the $600 million mark within just 10 days, it also surpassed Solana’s TVL at the time.
According to DeFiLlama data, Solana now has a raw TVL of nearly $640 million – excluding staking, borrowings, and other double counts – and Avalanche TVL is currently situated at $650 million. If Blast continues to receive funds at this pace, it is expected to surpass both these within a day.
Hardly a couple of weeks old layer 2 network has already left behind several third-generation blockchains including Base, zkSync, and ThorChain.
While users continue depositing funds into Blast, it is also widely criticized by the crypto community and even its seed investor Paradigm.
Also Read: Blast Secures $5 Million From CGV to Power Web3 Innovation on Its Burgeoning Layer 2 Network
