Blast, an Ethereum Layer 2 network by Blur’s founder, launched tokens this week is showing slow traction, and investors don’t look excited about it. Another big event is the ETH ETF launch very soon, which has the capability to push the market higher.

After making a lower high, Ethereum is performing weakly, and now the slow traction in ETH Layer 2 Blast is bad news for ETH. However, the launch of the awaited ETH ETF could work as a catalyst for Ethereum.

As the market is facing high volatility amid news of ETH ETF, DTX Exchange is attracting investors with its hybrid exchange model, which is set to revolutionize the trading industry.

Ethereum Layer 2 Blast Airdrop Tokens

Ethereum layer-2 network, Blast, launched its long-anticipated airdrop, igniting initial excitement that quickly turned into a rush of selloffs, causing a drop in the price of BLAST tokens. Initially priced at $0.025, the Phase One airdrop of 17 billion tokens was valued at around $430 million.

Since its early access launch in November 2023, Blast has made impressive strides. Currently, the total value locked (TVL) on the Blast network is $2.09 billion, slightly lower than the $2.3 billion reported on June 6, according to DefiLlama. This substantial TVL indicates strong trust and engagement from the community.

However, within minutes, many recipients started selling their tokens, driving the price down to about $0.018. At present, BLAST tokens are trading at $0.0229, with low investor interest. If the price drops further, the $0.018 level will act as support.

ETH ETF Launch in July

The crypto market is currently in excitement over the launch of spot ETH ETFs. However, it’s been a rollercoaster ride, with Ethereum recently facing a major sell-off. It dropped below the $3,350 support level but quickly bounced above it.

SEC Chair Gary Gensler recently shared that the approval process for the spot ETH ETF is “going smoothly.” He highlighted the importance of asset managers giving full disclosure in their registration statements. While no exact timeline was provided, analysts believe the approval could come early next week.

DTX Exchange: Dream of Every Trader

DTX has gained traders’ attention worldwide with the impressive benefits it provides. DTX Exchange is a hybrid trading platform that combines the best features of centralized (CEX) and decentralized (DEX) exchanges.

This innovative approach offers traders an unmatched experience with access to over 120,000 asset classes, no KYC checks, and fast transaction speeds of 0.04 seconds.

These benefits have attracted many traders to this new exchange coin. Currently, DTX costs $0.04 in Stage 2 of its presale, doubling from its initial price of $0.02. Market analysts predict a Tier-1 CEX listing in 2024 could push the price 100X, making DTX a coin to watch.

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