Memecoins dominate activity as degens flock to the much-hyped Ethereum Layer 2 network in pursuit of the next 100x trade.
Blast, an Ethereum Layer 2 network with over $2 billion in total value locked (TVL), has launched its highly anticipated mainnet.
Originally scheduled to launch at 1 pm Pacific time, the network appears to have been launched a few hours early. However, a community manager in the project’s Discord continues to urge users to wait for an official announcement.
That hasn’t stopped DeFi traders from using an unofficial bridge and piling into memecoins launched on DYORSwap, an aptly-named decentralized exchange. Etherscan shows that over 10,000 transfers have been completed.
Among the freshly minted memecoins, BlastCat ( BCAT) is the current leader, trading at a market capitalization of $13 million at the time of writing. According to DexScreener, the chain has already seen over $24 million of trading volume.
It should be noted that the team has yet to confirm any details, so interacting with any unofficial contracts is not advisable. Blast is being developed by the team behind Blur, the leading NFT marketplace by trading volume.
Meanwhile, many users aren’t happy that the launch information was leaked, taking to the project’s Discord to vent their frustration.
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