Short Lived Surge for Blast Crypto: A Prelude to Another Price WShort Lived Surge for Blast Crypto: A Prelude to Another Price Wave?
Blast crypto is an Ethereum layer 2 (L2) with native yield for ETH and stablecoins.
Blast crypto gained traction soon after dipping lower and surged an impressive 40% from record lows today.
Blast crypto seemed to be retreating after rising to a record high of $0.029. The bulls. Blast crypto has been volatile since its inception yesterday at price $0.022. The crypto loomed nearly 20% lower yesterday and then surged back nearly 43% higher from the record low of $0.0186 in intraday to record high in intraday today.
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 crypto was up over 8.5% intraday with a massive growth in the volume inflow in Intraday. The transaction volume has surged by 85.98% a day to $592.44 Million a day.
Moreover, the volume to market cap ratio at 158.19 suggests very high volatility in the crypto. It has a live market capitalization of $400.26 ranking at 145th among all the cryptocurrencies.
Out of a total 100 Billion BLAST tokens as the total supply, only 17% of it i.e. only 17 Billion tokens are currently under circulation.
Can Blast Crypto Break 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 the price may rally towards the record highs of $0.029 level. However, if the crypto slumps below the $0.0227, it may indicate a bearish continuation and the price may retrace its All time low value.
The RSI line and SMA line currently lies above the mean lines adding a bullish confirmation. investors need to watch closely as to which side the consolidation breaks.
What’s Next for Blast?
Blast crypto seemed to be consolidating with significant volatility in Intraday. The price has been volatile with 20% dip after inception and then a rebound of 43% from a low of $0.0186. At the time of writing, the crypto was exchanging hands close to $0.0238 with a positive development of nearly 8%.
With a market cap of $400.26 million, it ranks 145th and only 17 billion of the 100 billion total BLAST tokens are in circulation. Currently, the crypto has been in a consolidation with resistance at $0.0248 and support at $0.0227. A break above could signal a rally, while falling below may lead to record lows. The technical indicators RSI and SMA trends suggest a bullish outlook ahead.
