Blast batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense). Bridge depositors deposit ETH or stablecoins to Blast and receive a yield from ETH staking or T-bill strategies.

Blast is an L2 smart contract platform for decentralized applications on Ethereum. Blast has an inherent yield generation mechanism, coming from ETH staking and RWA protocols. Blast was founded by Pacman and launched in 2023.

Blast team and investors currently own and govern the protocol. Blast's investors include Paradigm, Standard Crypto, Santiago, etc.

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Blast

# Blast Fully diluted market cap Methodology

## 1. Overview

The fully diluted market cap metric for Blast represents the total theoretical value of all Blast tokens if the entire maximum supply were in circulation. This metric is calculated by multiplying the current token price by the total/maximum supply rather than just the circulating supply. It provides insight into the protocol's maximum potential market valuation and is essential for comparing projects with different token release schedules.

## 2. Data sources

The calculation relies on external market data from CoinGecko:
- **CoinGecko API market data**: End-of-day fully diluted market cap values for the Blast token
- **CoinGecko API price feeds**: End-of-day token price data for Blast
- **Token supply metadata**: Total supply and maximum supply information from CoinGecko
- **Market data timestamps**: Daily timestamp boundaries for historical data points

## 3. Step-by-step calculation

### Component A: Market cap data extraction
- **Purpose**: Retrieve fully diluted market cap data directly from CoinGecko for the Blast token
- **Logic**: The system queries CoinGecko's API using 'blast' as the token identifier to fetch historical fully diluted market cap values. This data represents the theoretical market value calculated as current price multiplied by total or maximum token supply (whichever is higher). CoinGecko provides this as a pre-calculated metric that accounts for all tokens that could potentially be in circulation
- **Key fields**: Daily timestamps, fully diluted market cap values in USD, and associated metadata

### Component B: Price data validation
- **Purpose**: Obtain corresponding price data for validation and potential cross-referencing
- **Logic**: Parallel extraction of end-of-day price data for the Blast token from CoinGecko using the same token identifier. This provides the underlying price component that contributes to market cap calculations and serves as a validation mechanism
- **Key fields**: Daily timestamps, token prices in USD, and price-related metadata

### Final aggregation
- **Combining components**: The fully diluted market cap data from CoinGecko is used as the primary metric source, with price data available for validation purposes
- **Currency conversion**: Data is already provided in USD by CoinGecko, eliminating the need for additional currency conversion
- **Time aggregation**: Data is aggregated to daily boundaries using end-of-day values, with timestamps standardized to consistent daily intervals
- **Data quality handling**: Missing data points are filled with zero values using a 'fill_zeros' strategy to maintain continuity in the time series
- **Historical filtering**: Results are filtered to include only data from June 26, 2024 onwards, corresponding to when reliable Blast token data became available or when the token launched
- **Final calculation**: The final metric value represents the daily fully diluted market cap in USD as calculated by CoinGecko (current price × total/maximum supply), with standardized formatting and consistent data structure applied through the finalization process

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Project valuation based on token price times total supply.

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Fully diluted market cap

Fully diluted market cap

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