Once a $2.3 Billion Network, Ethereum Layer-2 Blast Is Shutting Down
60-second summary
Blast, the $2.3 billion Ethereum layer‑2 network, announces it will shut down because operating costs now outpace its revenue, urging users to withdraw assets to the mainnet before October 26. The closure highlights sustainability challenges for high‑cost rollups, pressures remaining L2s to improve efficiency, and may temporarily shift liquidity back to Ethereum’s base layer.
Blast said operating costs now exceed the revenue its Ethereum layer-2 generates and asked users to withdraw their assets to mainnet before Oct. 26.