Blast Token Soars 20%, Airdrop Hype Fuels $2 Billion FDV

In a whirlwind of activity within the cryptocurrency market, Blast token (BLAST) has made waves with an impressive 20% surge since its highly anticipated launch. Initially priced at $0.02 per token, Blast debuted with a fully diluted value (FDV) soaring to $2 billion. 

However, the current trading scene sees BLAST trading at $0.02466, reflecting a robust 18% increase from its launch price.

This surge comes amidst contrasting fortunes for other recent token launches. Ethereum layer-2 network zkSync (ZK) and interoperability LayerZero (ZRO) have struggled, facing declines of 46% and 43% respectively post-launch. Blast’s resilience in this volatile landscape underscores its appeal and market reception.

The token’s journey includes a notable 20% single-day price spike, pushing it to $0.025 and capturing significant attention within cryptocurrency trading circles. Market capitalization stands strong at $432.2 million, and 24-hour trading volume, is now valued at $682.38 million.

Blast’s distribution strategy has also drawn interest. An airdrop released 17% of its total supply, with rewards distributed to users bridging Ether to the Blast network and those contributing to decentralized applications (DApps). An additional 3% was allocated to the Blur Foundation for future community airdrops.

Despite some market commentators expressing surprise at Blast’s $2 billion FDV, expectations had initially aimed higher, around the $5 billion mark according to Arthur Cheong, co-founder of DeFiance Capital. 

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