Native to the Ethereum layer-2 scaling solution Blast, the BLAST token has surged by 20% following its recent introduction amid a tsunami of bogus airdrop campaigns swamping the community.
Starting at $0.02 per token, BLAST had a completely diluted value (FDV) of $2 billion when first introduced, based on data combined from Ambient Finance and the Aevo trading platform. Designed by Blur’s developers, the incentivized NFT marketplace’s designers, the token’s initial market capitalization came to $392 million.
BLAST Price Surges Over 20%
With the most recent CoinMarketCap report, BLAST’s price has slightly over 20%, coming to $0.024. Its market capitalization has surged to $408 million along with daily trading volume of $730 million.
For Blast, the flood of fraudulent airdrop announcements has been a major obstacle since many of the misleading posts claim early airdrop deployments. Often copying token official accounts, these posts led viewers to fake websites using bogus endorsements supposedly from people like Elon Musk.
Reports of bogus links momentarily invading Token official Discord server before quick moderator measures were taken test the community’s alertness. Scam Sniffer, a cybersecurity company, reported one sad event with a customer losing $217,000 in crypto because of unintentional interaction with a phishing website, therefore highlighting continuous security concerns in the cryptocurrency field.
Critics in the market, mostly on X, have expressed worries over the lack of a staking mechanism for BLAST tokens notwithstanding effective token distribution. Some airdrop recipients have also expressed plans to sell their coins right away upon permanent market launches.
After zkSync earlier in June, Token airdrop represents the second significant Ethereum layer-2 blockchain event. The zkSync release encountered community criticism alleging that the predominance of Sybil addresses eclipsed actual users.
This scenario emphasizes the need of strong security policies and community awareness since it exposes continuous difficulties and hazards related with airdrop events in the bitcoin ecosystem.
