Home›Crypto›Market Structure›Blast plans shutdown of Ethereum layer-2 after costs e…

Blast plans shutdown of Ethereum layer-2 after costs exceed revenue

Blast said it sees no credible path to making the layer-2 economically sustainable, and it will cut its withdrawal delay to 24 hours.

Reported · Written up by our desk · Market Structure

Blast, an Ethereum layer-2 network that once ranked among the largest by total value locked, is shutting down after its operating costs outpaced the revenue generated by the chain, Cointelegraph reports.

In a Friday post on X, the Blast team said it sees no credible path to making the network economically sustainable and asked users to withdraw assets to Ethereum mainnet, citing economics that no longer make sense.

Blast also said its withdrawal delay will be reduced to 24 hours, though withdrawals will be temporarily unavailable while the shutdown proceeds.

Latest closeEthereum $2,664.06 ▼1.5%

More like this

Sources