Ethereum Layer-2 Network Blast Experiences 97% TVL Drop: A Cause for Concern

The Ethereum Layer-2 network, Blast, has experienced a dramatic decline in market share and investor confidence. This steep drop, marked by a 97% decrease in Total Value Locked (TVL) from its peak of $2.2 billion in June 2024 to just $67 million in August 2025, raises concerns for the DeFi community. Experts believe this shift reflects instability within the wider DeFi ecosystem and declining user interest in the project.