Blast Surpasses Cardano And Base – Here’s How Much DeFi Investors Have Locked
The Layer 2 network, Blast, with the backing of Paradigm, has quickly made waves in the decentralized finance (DeFi) world, overtaking both Base and Cardano's Total Value Locked (TVL) in less than a week of its launch. Despite concerns around security and fund management, investors have continued to commit their assets into Blast. The network announced on November 21 and it crossed $544 million of TVL by November 26, leaving Base and Cardano behind, which have TVL of $338.26 million and $330.07 million respectively. Blast, however, has faced criticism due to the fact that all transferred crypto will be locked until 2024. It is suggested that the platform is earning around $1.5 million a month by depositing funds into the Lido DAO protocol, raising concerns about Lido's growing dominance.
