DeFi· ★★★★· bearish·

Ethereum L2 network Blast shuts down, users must withdraw by October 26

  • —Blast is shutting down as revenue no longer covers operating costs
  • —Users can withdraw until October 26, with wait times cut to 24 hours
  • —At its June 2024 peak the network held about $2.2 billion
  • —More than 98% of that capital has since left the network
Why it matters: The shutdown of an L2 that once held $2.2 billion highlights risks for users and investors in similar projects.
#ETH
Source: Newsbit
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