Blast token price experienced a significant drop of over 6% on Wednesday following the distribution of 17% of its supply to users who farmed points by staking ether earlier this year. Opening at $0.30, the token quickly fell to $0.025 as some holders chose to exit their positions.

According to recent data, Blast now boasts a market cap exceeding $385 million and a fully diluted valuation of $2.2 billion. The network is set to have a maximum supply of 100 billion tokens, with 17.16 billion currently in circulation. There are now 54,341 $BLAST token holders, a number that is expected to continue growing.

Blast’s Position in the Blockchain Industry

Blast has established itself as the sixth largest blockchain based on the total value locked (TVL). Data from DeFi Llama indicates that the network supports 128 DeFi applications and has a TVL exceeding $1.6 billion. Additionally, the ecosystem includes $4.4 billion in stablecoins.

Top Players in Blast

Some of the leading players in the Blast ecosystem include Thruster, Juice Finance, Hyperlock Finance, Ring Finance, and Renzo. Blast’s popularity is significantly driven by its point system, which allows users to earn points for transacting on the network. This feature makes it the only EVM chain offering a native yield for ETH and stablecoins.

Recent and Upcoming Airdrops

Blast is among several prominent platforms that have launched airdrops this year. Notcoin, a Telegram tap-to-earn platform, conducted its airdrop in May and now has a market cap of over $1.5 billion.

Other notable airdrops this year include Wormhole, zkSync, Zeta Markets, and LayerZero. Although many of these tokens initially dropped in value post-airdrop, they have shown signs of recovery as the broader cryptocurrency market stabilizes.

The next highly anticipated airdrops include EigenLayer, TapSwap, and Hamster Kombat. EigenLayer is recognized as the leading restaking platform on Ethereum, while TapSwap and Hamster Kombat are the most prominent tap-to-earn platforms on Telegram.

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