Ethereum Layer 2 Blast Is Shutting Down: What Happens to Your Coins?

Quick Read

• Blast's monthly revenue collapsed from $3.5 million at peak to just $1,793 in September, forcing the Ethereum layer 2 network into a full shutdown.

• ETH deposited on Blast remains safe in Ethereum's bridge contract, but withdrawing via the app before October 26 is the easiest option.

• The BLAST token carries the biggest risk, already down 99% from its 2024 peak with its value entirely tied to the dying network.

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Blast, an Ethereum (CRYPTO:ETH) layer 2 network that attracted $2.3 billion in deposits by its February 2024 launch, is shutting down. On October 2, 2026, the team announced that the cost of running the network exceeds its earnings and that there's no viable solution to fix this. Users will have until October 26 to withdraw their funds through the network's regular app.

According to its own figures, the decision to shut down was based on financial performance. In September, the network brought in just $1,793, a dramatic drop from its peak earnings of approximately $3.5 million in one of its best months. As of October 6, total deposits plummeted to about $24 million, a staggering 99% drop from the 2024 peak, and the BLAST (CRYPTO:BLAST) token tumbled nearly 19% after the announcement.