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Sunday, February 25, 2024
More
    bitcoin
    Bitcoin (BTC) $ 51,632.83
    ethereum
    Ethereum (ETH) $ 3,038.28
    tether
    Tether (USDT) $ 0.999934
    bnb
    BNB (BNB) $ 384.55
    usd-coin
    USDC (USDC) $ 0.999808
    xrp
    XRP (XRP) $ 0.544145
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.086072
    cardano
    Cardano (ADA) $ 0.588881
    solana
    Solana (SOL) $ 102.71
    matic-network
    Polygon (MATIC) $ 0.97491
    polkadot
    Polkadot (DOT) $ 7.76
    tron
    TRON (TRX) $ 0.137559

    Blast TVL reaches $570M as Japanese crypto VC reveals $5M funding

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    • Blast TVL reaches $570 million, days after the Paradigm and Normal Crypto backed L2 launched.
    • A Japanese crypto VC is reportedly eyeing a $5M funding within the platform.
    • Blast’s deposit-only good contract has attracted big criticism.

    Blast, the not too long ago launched Layer 2 crypto mission has surpassed $570 million in whole worth locked (TVL), in keeping with information on Dune Analytics.

    With the mission’s one-way deposit contract attracting criticism together with from Paradigm researcher Dan Robinson, the variety of depositors seems to be to have fallen from the height seen final week.

    Nonetheless, the L2’s worth locked in ETH and stablecoins has risen to over $570 million simply days after its launch. 

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    The Blast group additionally shared the milestone on their X account, noting that over 63k neighborhood members had been now incomes yield (roughly 4% for ETH and 5% for stablecoins). They’re additionally amassing Blast Factors.

    Funds despatched to Blast are restaked on Lido and Maker, with customers solely prone to entry withdrawals after the three-month lockup interval.

    Japanese crypto VC to take a position $5 million in Blast

    Blast was backed by each Paradigm and Normal Crypto because it regarded to launch the Ethereum L2 with native yield for Ether (ETH) and stablecoins. 

    See also  NuggetRush Attracts Main Funding, Outshining Bonk and Conflux in Market Capitalization

    In response to a report on Monday, Japanese crypto funding agency CGV (Cryptoram Enterprise) has earmarked a $5 million particular funding in Blast. The Tokyo-based crypto VC is reportedly additionally seeking to collaborate with the Blast group to advance the L2 ecosystem’s development.

    CGV additionally invests in and incubates JPYW, a licensed Japanese yen-pegged stablecoin.

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