DeFi

Long-Awaited BLAST Token Drops to $420 Million Market Cap

Published

7 months ago

27 June, 2024

CoinFlix Staff

Long-Awaited BLAST Token Drops to $420 Million Market Cap

Blast users can still earn points through its Phase 2 rewards campaign for the next four months.

The long-awaited release of Blast, the popular but controversial Layer 2 network, is finally live.

The first phase of the Blast airdrop became recoverable on June 26, with claims expected to remain open for 30 days.

The airdrop distributed 17% of BLAST’s total supply to early adopters. Holders of Blast Gold (developers) and Blast Points (users) were each awarded 7% of the tokens, with the remaining 3% allocated as rewards to players on Bluer — the market-leading NFT marketplace also developed by the Blast team.

According to CoinGecko, BLAST debuted with a market capitalization of approximately $420 million, which equates to a fully diluted valuation of approximately $2.48 billion. The token recorded a modest decline of 3.6% in 20 minutes since its launch.

Blast released its tokenomics as part of the Q2 2024 project to summarize on June 25, revealing that half of BLAST’s 100 billion total supply is reserved for the Blast community.

Phase 2

Blast also announced that the second phase of its airdrop and launch campaigns is now live, with users able to earn “Phase 2 Rewards” for the next four months.

“Our mission is to unblock the banked”, Blast tweeted. “Our goal is to accelerate the market transition from an off-chain to an on-chain economy, which we believe is the most efficient market structure for global finance.”

Blast added that it plans to establish itself as a “full-stack channel” during Phase 2.

“Unlike Android, Apple takes a full-stack approach”, Blast said. “They build everything from software to hardware and optimize the entire stack. This approach has significantly accelerated the transition to mobile… The goal of the next phase of Blast, Phase 2, is to create the full stack chain.

Blast added that it would work with ecosystem projects to develop desktop and mobile wallet applications, seeking to deliver a level up to Metamask, a market-leading Web3 wallet provider.

Blast’s controversial debut

Blast had an explosive but controversial launch in November. The network quickly accumulated $500 million in deposits over five days, luring users with promises of future airdrops and native yield for ETH and stablecoin deposits.

Blast claims to have been the fastest growing chain across Layer 1 and Layer 2, scoring $1 billion in total value locked (TVL) in just 13 days, and Blast native decentralized applications (dApps) boasting $2 billion in TVL after 100 days.

However, Blast also reaped critical as quickly as it attracted growth.

At “launch”, the project comprised nothing more than a one-way deposit contract secured by a multisig account controlled by anonymous developers, requiring depositors to have blind trust in the project so as not to run away with it. their assets.

“Blast is not an L2”, Jarrod Watts of Polygon tweetedat the time. “There is no testnet, no transactions, no bridge, no rollup, and no sending transaction data to Ethereum.”

Yields also came from converting users’ ETH to stETH to accumulate staking rewards and stablecoins to DAI to access the DAI savings rate, creating a dubious “native” yield mechanism.

Yet despite its controversial debut, Blast has since become the sixth largest channel by DeFi TVL with $2.38 billion after peaking at $3.28 billion on June 6, and ranks fourth among Layer 2s by the TVL network with $2.91 billion.

Blast users have also deposited an unusually high proportion of network TVL into DeFi applications, with dApps hosting almost 82% of Blast’s network TVL.

For comparison, only 24%, or $4.11 billion of Arbitrum’s $17.1 billion, is deposited into dApps, while 22.7% of Base’s $7.49 billion and 12.3% of OP Mainnet’s $6.45 billion is held in DeFi protocols.

Blast also ranked sixth among blockchains in terms of decentralized exchange volume, while its stablecoin USDB also ranked fourth in terms of number of holders and fifth in terms of 24-hour volume, according to the second quarter report from Blast.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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