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

ChainCatcher news reports that, according to NFT Gators, Blast's total value locked (TVL) has dropped 62% from its all-time high, and the number of daily active users has fallen to its lowest level in six months. As a Layer 2 scaling network for Ethereum, Blast has faced challenges following a massive user exodus after its airdrop in June. By early August, the network had lost over $300 million in liquidity, with TVL decreasing from $1.1 billion to $785 million, marking a six-month low.

According to data from growthepie, on August 18, Blast's daily active users fell to 27,800, the lowest level since the scaling solution was launched at the end of February. In contrast, Base and Arbitrum have daily active wallets exceeding 740,000 and 360,000, respectively. Not only are airdrop participants dissatisfied with Blast's strategy, but some teams building projects on Blast are also feeling frustrated. For example, Pacmoon, once the largest meme coin on the Layer 2 network, is now migrating to Solana.

Pacmoon's Lamboland stated on the X platform: "We believe that tokens, community, and culture are key to blockchain success. However, Blast has never focused on these. In fact, they created a system that suppresses the native tokens on Blast and has not provided any support."