Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%
60-second summary
Blast, once holding over $2 billion in assets, is shutting down as user activity collapses and operating costs surge, while competitors such as Coinbase and Robinhood launch their own layer‑2 solutions; the platform’s assets have plunged roughly 98%, prompting investors to withdraw and signaling heightened consolidation pressure across the Ethereum scaling ecosystem.
Once home to more than $2 billion in crypto assets, Blast is shutting down as activity fades, costs rise, and bigger platforms like Coinbase and Robinhood build networks of their own.