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- 1 Blast crypto is an Ethereum layer 2 (L2) with native yield for ETH and stablecoins.
- 2 Blast crypto gained traction soon after dipping and surged 40% from record lows today.
Blast crypto retreated after rising to a record high of $0.029. Blast has been volatile since its inception yesterday at $0.022. The crypto loomed nearly 20% lower yesterday and then surged back nearly 43% from the record low of $0.0186 intraday to a record high today (press time).
Blast stands out as the Ethereum Layer 2 (L2) solution offering native yields on both ETH and stablecoins. Moreover, this yield is generated through ETH staking and Real-World Asset (RWA) protocols, which seamlessly distribute the earnings back to the users.
Unlike other L2 solutions that typically offer a 0% default interest rate, Blast provides a competitive 3.4% yield for ETH and an impressive 8% for stablecoins. Moreover, Blast empowers developers with innovative tools such as built-in yield generation and gas revenue sharing, setting a new standard for L2 platforms.
Blast Crypto Volume Analysis
At the time of writing, Blast was up over 8.5% intraday with a massive growth in the volume inflow intraday. The transaction volume had surged by 85.98% intraday to $592.44 Million.
Moreover, the volume to market cap ratio at 158.19 indicates high volatility in the crypto. At press time, market capitalization stood at $400.26 Million, ranking 145th on coinmarketcap.
Out of 100 Billion BLAST tokens as the total supply, only 17% of it i.e. only 17 Billion tokens are under circulation.
Can Blast Crypto Go Past its ATH?
From a price point of view, Blast crypto retreated after rising to a record high. The hourly chart illustrates that the crypto has been in a consolidation zone with $0.0248 as the resistance and $0.0227 as the support.
On the higher side, any break above the resistance may indicate the completion of a pullback and that the price may rally towards the record high of $0.029. However, if the crypto slumps below $0.0227, it may indicate a bearish continuation and the price may retrace to its all time low value.
The RSI and SMA line are above the mean lines (press time), which indicates a bullish confirmation. investors need to watch closely as to which side the consolidation breaks.
What’s Next for Blast?
Blast crypto was consolidating with significant volatility intraday. The price has been volatile with a 20% dip after inception and a rebound of 43% from a low of $0.0186. At the time of writing, the crypto was exchanging hands at $0.0238 with a positive development of nearly 8%.
With a market cap of $400.26 Million, it ranked 145th and only 17 billion of the 100 billion total BLAST tokens are in circulation. The crypto was consolidating with resistance from the $0.0248 level and support at the $0.0227 level. A break above could signal a rally, while falling below may lead to record lows. The RSI and SMA trends suggest a bullish outlook ahead.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
