CoinMeta data: Blast, a crypto network that held $2.24 billion in June 2024, has now announced its closure. In the past day, the on-chain revenue of Blast was only $110. Blast is a layer-2 network that runs on Ethereum and once promised to pay interest on deposits and offer token rewards. The Blast tokens fell by 19% after the news was released. The team behind Blast stated that operating costs have exceeded revenues, and there is no feasible solution. The founder of Blast, Tieshun Roquerre (online username Pacman), expressed disappointment and thanked all users and developers who supported Blast. The locked-up value of Blast has dropped from its peak in 2024 to $32.3 million, a decrease of nearly 99%. Currently, about $51 million remains in the contracts of Blast, mainly in the form of ETH pledged to Lido. Users need to use the normal application before October 26; thereafter, the contracts of Blast on Ethereum will be directly managed.