Data: Blast TVL has fallen over 60% from its historical high, and the daily active user count has dropped to its lowest level in six months

ChainCatcher news, according to NFT Gators, the total locked value (TVL) of Blast has fallen 62% from its historical high, and the number of daily active users has dropped to a six-month low. As an Ethereum layer-2 scaling network, Blast faced challenges after experiencing massive user loss following an airdrop in June. In early August, the network lost over $300 million in liquidity with TVL dropping from $1.1 billion to $785 million - a six-month low.

According to data from growthepie, on August 18th, Blast's daily active users fell to 27,800 people - the lowest level since this expansion plan was launched at the end of February. In contrast, Base and Arbitrum have more than 740k and 360k daily active wallets respectively. Not only are airdrop participants dissatisfied with Blast's strategy but some teams building projects on Blast also feel frustrated. For example Pacmoon – once the largest meme coin on this layer-2 network – is migrating to Solana.

Pacmoon’s Lamboland stated on platform X: "We believe that tokens community and culture are key for blockchain success; however Blast never paid attention these aspects. In fact they created system where native tokens on blast were suppressed without providing any support."