Blast, the Ethereum Layer-2 network, is shutting down. Coinbase will suspend BLAST token trading on October 20, 2026, and is giving users until October 26, 2026, to withdraw their assets from the platform.

The network announced on October 2, 2026, that it would wind down operations because the cost of running it had climbed past the revenue it brought in.

Wind-Down Timeline

Blast users can continue withdrawing through the standard Blast interface until October 26, 2026, a deadline that lines up with the one Coinbase set for its own customers. After that date, the straightforward route closes. Anyone still holding assets on the network will need to interact directly with Blast's bridge contracts on Ethereum.

The plan also includes a short pause in withdrawals. Blast said bridge withdrawals will follow a brief hiatus meant to allow staked assets to be extracted. The article does not detail how long that pause will last, making it the one element of the timeline worth watching as the October 26, 2026 cutoff approaches.

BLAST Token Declines

The BLAST token has fallen approximately 99% from its all-time high. Immediately after the shutdown announcement, the token dropped another 19-47%, depending on where and when it was measured. It now trades around $0.00024.

Multiple platforms beyond Coinbase, including BTSE, Bitvavo, and Bybit, have also announced delistings or trading suspensions for BLAST.

Total Value Locked Falls From Billions to Millions

Total value locked on Blast peaked at more than $2 billion in June 2024. Today, that figure sits at approximately $24-32 million.

Revenue followed the same downward path. At its height, Blast was pulling in around $3.5 million in monthly revenue. Recently, monthly revenue has fallen to as low as $1,793.

What a Layer-2 Is, and Why This One Failed

Layer-2 networks sit on top of Ethereum and process transactions off the main chain. The goal is to make activity faster and cheaper while still leaning on Ethereum for security. These networks generally earn their keep from the same transaction activity they exist to process, so sustained drops in usage feed directly into the revenue side of the ledger.

Blast's problem was that costs exceeded what the Layer-2 earned, and there was no viable path to close the gap — the arithmetic that ultimately ended in a wind-down.

What This Means for Holders

For anyone still holding BLAST or other assets on the network, the priority is practical. Coinbase customers have until October 20, 2026, before trading stops, and until October 26, 2026, to move assets off the platform. Blast users outside Coinbase face the same October 26, 2026, cutoff for the standard interface.

Missing that deadline does not mean losing funds, but it does mean navigating bridge contracts directly after the planned pause for staked assets.

The coordinated wave of delistings from Coinbase, BTSE, Bitvavo, and Bybit leaves remaining holders with fewer ways to exit. The slide in monthly revenue from around $3.5 million to as low as $1,793 shows how capital that arrived on the network quickly departed, collapsing the revenue that kept it running.