Newly Launched Layer 2 Blast Reached $230M TVL In 48 Hours

Blast is built by Blur cofounder with backing from the leading crypto VC firm Paradigm.

Last updated: May 17, 2025 11:47 AM

Published 2023-11-23

The yield-focused layer 2 network, Blast has secured a TVL (total value locked) of over $230 million within 48 hours of its announcement.

Blast shared the achievement in a post and claimed that a community of 37,131 members has already bridged funds to its layer 2 network. Users are earning a yield of nearly 4% on ETH and 5% on stablecoins.

Blast has reached $230 Million in TVL within 48 hours.

37,131 community members are now earning yield (~4% for ETH and 5% for stables) + Blast Points.

We can't wait to share more about what we're building for the Blast Community in future updates! pic.twitter.com/DiW2GT7cUe
— Blast (@blast) November 22, 2023

The recently launched Ethereum layer 2 network, Blast, is built by the co-founder of NFT marketplace Blur and backed by prominent venture firm Paradigm. It was announced on November 21 and reached a TVL of $40 million within hours.

According to DeBank data, Blast currently has surpassed $264 million in TVL with a total of 112,984 ETH and over 31 million DAI stablecoin.

However, the transfer of funds through Blast bridge is currently one-way only as users are not able to withdraw assets until the mainnet launch in February 2024.

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