Since its launch on June 26, $BLAST has seen a significant exodus of big investors, resulting in a near 24% drop in Total Value Locked (TVL).
Address 0x663…268c4, linked to @General6316, recently redeemed 1,300 ETH from Blast, depositing it all into Binance, with a value of $4.06 million.
This address began interacting with Blast eight months ago, transferring ETH from Binance at an average price of $2,987. If the recent ETH deposit is sold, the investor stands to make a profit of $170,000.
自 06.26 $BLAST 上线以来，越来越多大户从 Blast 出逃了，TVL 已下降近 24%🏃
地址 0x663…268c4(@General6316) 两小时前收到 Blast 赎回的 1300 枚 ETH 后已全部充值进 #Binance，价值 406 万美金
他从八个月前开始交互 Blast，同期以均价 $2987 从币安转出 ETH，若本次全部卖出将获利 17 万美金… pic.twitter.com/EkgVG2OWwV
— Ai 姨 (@ai_9684xtpa) July 11, 2024
Gotbit Hedge Fund Sees Potential In $Blast Token
Despite this downturn, Gotbit Hedge Fund believes Blast is undervalued. According to Gotbit, the recent price drop is a temporary liquidity withdrawal from airdrop participants and not a sign of Blast’s decline. They are optimistic about Blast’s future, seeing trends that indicate an upcoming price pump.
8/ 👉 Conclusion
A short-term price drop is merely a withdrawal of liquidity from airdrop, but don't think Blast is going out of sight, because it's deeply underrated
We would be happy to invest in Blast Ecosystem cos we see trends for the upcoming pump
— Gotbit Hedge Fund (@gotbit_io) July 11, 2024
“We would be happy to invest in the Blast Ecosystem because we see trends for the upcoming pump,” Gotbit stated.
While the immediate outlook for $BLAST appears shaky, the confidence expressed by Gotbit Hedge Fund suggests that there may be a positive turnaround on the horizon. The current situation may represent a strategic opportunity for new investors to enter the Blast ecosystem at a lower price point before a potential surge in value.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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