As a researcher with experience in the cryptocurrency market, I’m both intrigued and concerned by the recent launch and surge of BLAST, the native token of Ethereum layer-2 scaling solution Blast. The 20% price increase following its launch is impressive, but the flood of fake airdrop posts on social media platforms is concerning.
The Ethereum layer-2 scaling solution Blast’s native token, BLAST, experienced a 20% increase in value upon its debut, coinciding with an influx of misleading airdrop announcements on various platforms.
At its launch, BLAST started trading at a price of $0.02 per token. Based on this price and the total supply of tokens, as reported by Ambient Finance and the decentralized finance platform Aevo, BLAST had an estimated fully diluted value (FDV) of approximately $2 billion.
At the point of this writing, CoinMarketCap reports that BLAST’s price has experienced a modest increase, reaching $0.024. With this change, its market capitalization amounts to $408 million, while its daily trading volume is recorded at $730 million.
Last year towards the end, I participated in bridging Ether or USD onto the Blast network. For my efforts, I was rewarded with an airdrop of 7% of the total BLAST supply. In addition to that, an extra 10% was distributed to the community, making up a grand total of 17% of the entire BLAST supply that was released through this airdrop.
Seven percent of the distribution went to individuals who significantly contributed to the thriving dApp ecosystem on the network. Three percent were earmarked for the Blur Foundation, set aside for potential future community airdrops.
The creators of Blur, the incentivized NFT marketplace, encountered numerous issues with scammers on social media platforms as they launched Blast.
As a crypto investor, I’ve come across misleading information suggesting that Blast’s airdrop had already begun before the scheduled date. These posts, with identical profile pictures and display names as Blast’s official X account, lured users towards fake websites. The deception was further reinforced by claims of “Gold checkmarks” supposedly introduced by Elon Musk, who is currently the owner of the platform.
Certain suspicious links managed to gain access to Blast’s official Discord server before they were spotted and eliminated by a community moderator.
According to cybersecurity company Scam Sniffer, an unfortunate user is said to have lost approximately $217,000 in cryptocurrency after visiting a fraudulent website. The user was seemingly tricked into authorizing several malicious transactions without being aware of it, emphasizing the persistent issues in safeguarding platforms against nefarious actors.
Heed this warning: The rising hype around $BLAST has brought us important news. Maliciously minded individuals have been spotted ramping up phishing attempts. On platform X, they’re sending out deceitful messages disguised as $BLAST airdrops, with the intent to mislead innocent users. 🚫 Beware!
— AegisWeb3 (@AegisWeb3) June 27, 2024
Although the airdrop was effective in distributing the tokens, it faced criticism from industry analysts over several aspects, most notably the lack of a staking feature for BLAST tokens.
Additionally, some BLAST token recipients indicated a plan to dispose of their distributed tokens as soon as perpetual markets became available for trading.
As a crypto investor, I’m excited to be part of the community for Blast, the latest Ethereum layer-2 blockchain to announce an airdrop in June. This comes hot on the heels of the zkSync airdrop that took place earlier in the month. Both projects aim to improve the scalability and affordability of the Ethereum network through layer-2 solutions. As a holder of Ethereum or relevant tokens, I’ll be keeping an eye on these opportunities to potentially boost my portfolio.
Critics within the community raised concerns over the unequal distribution of zkSync tokens, alleging that numerous wallets belonging to the same user, known as Sybil addresses, received an excessive amount of tokens at the expense of other users.
Read More
Sorry. No data so far.
2024-06-27 15:12