Blast, an Ethereum Layer-2 network, will cease operations by Oct. 26 after saying the cost of maintaining the chain exceeds revenue and that it sees no credible path to economic sustainability. Users are expected to withdraw assets to Ethereum’s mainnet, while funds still locked in Lido will take about one week to become available. DeFiLlama data show monthly revenue fell from about $3.5 million in June 2024 to $1,793 in the latest month, while TVL declined from about $2.4 billion in mid-2024 to $32 million. The BLAST token has fallen about 98%, from a peak of $0.80 in late 2024 to about $0.02 in 2026. Founder Tieshun Roquerre, known as Pacman on X, said he was disappointed by the shutdown. The decision has prompted criticism from users, venture capital figures and analysts who described the project as extractive or a slow rug, while Blast’s closure joins a broader wave of crypto-platform shutdowns attributed to competition, compliance costs and falling revenue.