The recent popular layer 2 network Blast has now surpassed a TVL (total value locked) of $620 million, which surpassed the TVL of Ethereum’s close competitor Solana on November 29.
Blast has currently reached a total of $622.5 million in TVL that users have been bridging in just the past few days. The bustling bridging of funds has continually surged since its announcement on November 21.
A prominent researcher, Evan Van Ness noted that while Blast TVL broke the $600 million mark within just 10 days, it also surpassed Solana’s TVL at the time.
According to DeFiLlama data, Solana now has a raw TVL of nearly $640 million – excluding staking, borrowings, and other double counts – and Avalanche TVL is currently situated at $650 million. If Blast continues to receive funds at this pace, it is expected to surpass both these within a day.
Hardly a couple of weeks old layer 2 network has already left behind several third-generation blockchains including Base, zkSync, and ThorChain.
While users continue depositing funds into Blast, it is also widely criticized by the crypto community and even its seed investor Paradigm.