{"id":24753,"date":"2023-11-27T22:30:23","date_gmt":"2023-11-27T22:30:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blast-tvl-reaches-570m-as-japanese-crypto-vc-reportedly-eyes-5m-investment\/"},"modified":"2023-11-27T22:30:23","modified_gmt":"2023-11-27T22:30:23","slug":"blast-tvl-reaches-570m-as-japanese-crypto-vc-reportedly-eyes-5m-investment","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blast-tvl-reaches-570m-as-japanese-crypto-vc-reportedly-eyes-5m-investment\/","title":{"rendered":"Blast TVL reaches $570M as Japanese crypto VC reportedly eyes $5M investment"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1701112670478-d58fe326-94d5-461c-961a-f6d93580ff7a-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1701112670478-d58fe326-94d5-461c-961a-f6d93580ff7a-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1701112670478-d58fe326-94d5-461c-961a-f6d93580ff7a-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/1701112670478-d58fe326-94d5-461c-961a-f6d93580ff7a-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Blast TVL reaches $570 million, days after the Paradigm and Standard Crypto backed L2 launched.<\/li>\n<li dir=\"ltr\">A Japanese crypto VC is reportedly eyeing a $5M investment in the platform.<\/li>\n<li dir=\"ltr\">Blast\u2019s deposit-only smart contract has attracted huge criticism.<\/li>\n<\/ul>\n<p dir=\"ltr\">Blast, the recently launched Layer 2 crypto project has surpassed $570 million in total value locked (TVL), according to <a href=\"https:\/\/dune.com\/lyjavier\/blast-l2\" rel=\"noopener noreferrer\" target=\"_blank\">data<\/a> on Dune Analytics.<\/p>\n<p dir=\"ltr\">With the project\u2019s one-way deposit contract attracting criticism including from <a href=\"https:\/\/twitter.com\/danrobinson\/status\/1728817674543862023\" rel=\"noopener noreferrer\" target=\"_blank\">Paradigm researcher Dan Robinson<\/a>, the number of depositors looks to have fallen from the peak seen last week.<\/p>\n<p dir=\"ltr\">However, the L2\u2019s value locked in ETH and stablecoins has risen to over $570 million just days after its launch.\u00a0<\/p>\n<p dir=\"ltr\">The Blast team also shared the milestone on their X account, noting that over 63k community members were now earning yield (approximately 4% for ETH and 5% for stablecoins). They are also amassing Blast Points.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Blast has reached $570 Million in TVL within 1 week.<\/p>\n<p>63,948 community members are now earning yield (~4% for ETH and 5% for stables) + Blast Points.<\/p>\n<p>There&#8217;s been incredible inbound developer interest since launch. We&#8217;ll share more for devs soon as we march towards Mainnet! <a href=\"https:\/\/t.co\/F715z8mpDa\">pic.twitter.com\/F715z8mpDa<\/a><\/p>\n<p>\u2014 Blast (@Blast_L2) <a href=\"https:\/\/twitter.com\/Blast_L2\/status\/1729186171983691851?ref_src=twsrc%5Etfw\">November 27, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Funds sent to Blast are restaked on Lido and Maker, with users only likely to access withdrawals after the three-month lockup period.<\/p>\n<h2 dir=\"ltr\">Japanese crypto VC to invest $5 million in Blast<\/h2>\n<p dir=\"ltr\">Blast was backed by both Paradigm and Standard Crypto as it looked to launch the Ethereum L2 with native yield for Ether (ETH) and stablecoins.\u00a0<\/p>\n<p dir=\"ltr\">According to a <a href=\"https:\/\/medium.com\/@CGVFoF\/the-japanese-crypto-fund-cgv-is-set-to-invest-5-million-into-blast-ecosystem-4f3b65be8548\" rel=\"noopener noreferrer\" target=\"_blank\">report<\/a> on Monday, Japanese crypto investment firm CGV (Cryptoram Venture) has earmarked a $5 million special investment in Blast. The Tokyo-based crypto VC is reportedly also looking to collaborate with the Blast team to advance the L2 ecosystem\u2019s growth.<\/p>\n<p dir=\"ltr\">CGV also invests in and incubates JPYW, a licensed Japanese yen-pegged stablecoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Japanese crypto investment firm CGV announced a $5 million investment in the Blast L2 ecosystem, aiming to collaboratively advance the development of the Blast network. CGV (Cryptogram Venture) also invest in and incubate the licensed Japanese yen stablecoin JPYW.\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1729146504743645512?ref_src=twsrc%5Etfw\">November 27, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/blast-tvl-reaches-570m-as-japanese-crypto-vc-reveals-5m-investment\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Blast TVL reaches $570 million, days after the Paradigm and Standard Crypto backed L2 launched. A Japanese crypto VC is reportedly eyeing a $5M investment in the platform. Blast\u2019s deposit-only smart contract has attracted huge criticism. Blast, the recently launched Layer 2 crypto [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24753"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24753"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24754"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}