Blast L2 Network Faces Catastrophic 97% TVL Crash — Here’s Why a Stunning Comeback Could Be Closer Than You Think

Ever wonder what happens when a crypto rockstar stumbles — but somehow still manages to whisper promises of a comeback? That’s exactly the cliffhanger Blast is serving up right now. Once the shiniest second fiddle in Ethereum’s Layer-2 orchestra, this network skyrocketed to a mind-blowing $2.2 billion TVL at its peak — only to tumble almost 97% to a paltry $65 million. Ouch. It’s like watching a blockbuster director drop their latest film on opening night, only to see ticket sales nosedive faster than you can say “token generation event.” Yet, beneath the wreckage of plummeting user counts and market cap hiccups lies a flicker of hope. Could Blast’s beleaguered token still rise from the ashes and snag a respectable price point by 2036? Or is this just another crypto fairy tale destined to fizzle out? Buckle up — this rollercoaster ride is just getting started. LEARN MORE

Key Takeaway

Blast, once a leading Ethereum Layer-2 network, has seen a steep decline in TVL and user activity, though long-term price forecasts remain cautiously optimistic.

Blast, once hailed as Ethereum’s [ETH] second-largest Layer 2 network, has become a focal point of both optimism and criticism in the crypto market.

At press time, BLAST was trading at $0.002570 after a modest 0.62% gain over the past 24 hours, but the network’s fortunes have sharply declined as users migrate elsewhere.

At its peak in June 2024, just ahead of its highly anticipated token generation event (TGE), Blast’s decentralized finance (DeFi) ecosystem boasted a Total Value Locked (TVL) of $2.2 billion.

However, at press time, the figure has plummeted to a mere $65 million, a staggering 97% drop from its all-time high and a 30% decline in just the past month, as per DeFiLlama.

What could be the reason behind this drop?

Blast’s rocky trajectory can be traced back to its controversial launch strategy.

In November 2023, the project introduced a deposit vault, followed by its mainnet launch in February 2024, which featured farming incentives and Blast Gold rewards.

The rollout attracted a wave of airdrop farmers aiming to replicate the success of the Blur airdrop from February 2023. 

That campaign was led by developer PacMan and backed by investment firm Paradigm.

Despite the initial hype, BLAST debuted with only a market cap of $2.9 billion, well below the $5–10 billion range many analysts had projected.

This underwhelming launch triggered a 60% drop in TVL within two months, leaving Blast struggling to gain traction in the competitive Layer 2 space.

Where will the BLAST price head next?

However, despite recent short-term declines, BLAST token maintains a cautiously optimistic long-term outlook.

According to AMBCrypto’s price predictions, the token could reach $0.0041 in 2025 under a bullish scenario. 

Looking further ahead, BLAST’s price may climb to $0.0048 in 2026, with a potential long-term peak of $0.015 by 2036. This hinted that the long-term trajectory for BLAST remains positive.