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.

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.

“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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