The TVL (total value locked) of Blast, a recently popular layer 2 network, has topped $620 million, surpassing that of Solana, a close competitor of Ethereum, on November 29.
Since only a few days ago, consumers have been bridging a total of $622.5 million in TVL through Blast. Since its inaugural statement on November 21, the thriving financial bridge has continued to grow.
Renowned scholar Evan Van Ness pointed out that while Blast TVL exceeded Solana’s TVL at the time, it also crossed the $600 million threshold in less than ten days.
DeFiLlama data shows that Avalanche TVL is currently around $650 million, while Solana’s raw TVL is currently close to $640 million (not including staking, borrowings, and other double counts). It is anticipated that Blast will surpass both of these in a single day if funding continues at this rate.
A mere few weeks have passed since the inception of this layer 2 network, and multiple third-generation blockchains such as Base, zkSync, and ThorChain have already emerged.
Even while users are still adding money to Blast, the cryptocurrency community and even its seed investor Paradigm have harsh criticisms for the platform.