Unidentified Whale Deposits 10,000 ETH Worth $20 Million in New Blast L2 Project

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By BitcoinWiki News

Key Takeaways:

– Ethereum-based layer 2 network Blast gaining traction
– 10,000 ETH deposited to Blast by unidentified whale
– Blast launched by Tieshun “Pacman” Roquerre, founder of NFT marketplace Blur
– Blast to become first Ethereum layer 2 platform with built-in yield model
– Blast raised $20 million in initial funding and saw on-chain investments in excess of $55 million
– Increased adoption of layer 2 networks due to increased transaction fees and slower transaction speeds on Ethereum’s base layer
– Layer 2 networks now account for nearly two-thirds of all Ethereum transactions
– Adoption of layer 2 networks in the third quarter of this year largely a result of the growing adoption of Coinbase’s layer 2 network Base


The newly launched Ethereum-based layer 2 network, Blast, has gained traction in the market after an unidentified whale deposited 10,000 ETH to the network just two days after its launch. Blast, created by Tieshun “Pacman” Roquerre, aims to become the first Ethereum layer 2 platform to introduce a built-in yield model. The project raised $20 million in initial funding and has seen on-chain investments of over $55 million within hours of its launch. Ethereum-based layer 2 networks have become popular due to increased transaction fees and slower transaction speeds on Ethereum’s base layer, with networks accounting for nearly two-thirds of all Ethereum transactions. The increasing adoption of layer 2 networks is also attributed to the growing adoption of Coinbase’s layer 2 network, Base.

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