Ethereum layer-2 network Blast is shutting down after the cost of maintaining the chain exceeded the revenue it generated, with no realistic path to an economically sustainable model. Blast’s total value locked has fallen to about $32 million from more than $2 billion before its February 2024 mainnet launch. The network is asking users to withdraw assets to Ethereum, while its token fell 17% after the announcement, reducing its market capitalization to about $23 million.