AVAX and NEAR are both rising. Is capital spillover or is the narrative of the public chain coming back to life?

Since the crypto market entered the bull market, with the exception of Solana and Avalanche, established public chains from the previous cycle, such as Near and Fantom, have shown little improvement. However, recently, as Bitcoin breaks through new highs, the prices of the native tokens of these public chains have gradually become more active. Among them, FTM has been the target of smart money inflows many times in the past few days, and NEAR has also hit a new high for the year amid the recent AI craze.

Catching up with the AI craze, “conference expectations” help NEAR ecology thaw

NEAR Protocol alliance Founder Illia Polosukhin announced that he will attend the "Transforming AI" keynote speech and panel discussion during the GTC24 conference on March 20. NVIDIA founder Huang Jensen will also participate in the event. After the news was announced, NEAR briefly exceeded $5 and has exceeded $8 as of writing.

Near in 2023 2 According to Yuefa, NEAR can serve as infrastructure to support next-generation AI use cases. The network creates a value layer for setting rules and data pricing, and different applications and protocols can utilize these data in an open, fair and transparent manner. Near has also partnered with Cosmose AI, a consumer shopping data analytics platform, to build a stablecoin payment system that will allow users to shop with cryptocurrencies at lower transaction fees.

At the same time, the meme currency BLACKDRAGON in the ecosystem has been "resurrected" again, rising 700% from the bottom. As of writing, its price is 0.0 (7)8 USD, a 24-hour increase of 15%.

Game+meme coins, Avalanche's ecology is generally rising

On March 11, South Korean game publisher Nexon Group announced that its 2D massively multiplayer online role-playing game "MapleStory" will cooperate with Avalanche Labs, officially entered the Avalanche network and launched a Web3 version called "MapleStory Universe". MapleStory was one of the first online games to popularize the free-to-play model since its launch in 2003, and has now expanded to servers in the United States, Europe and other Asian countries such as Japan and China, claiming to have more than 1.8 servers in its 20-year history. billion users.

The first game "MapleStory N" will allow players to build their own game world and receive Web3 rewards for this. Although the announcement did not specify what kind of Web3 incentives players will receive, But its website states that NFTs are the core of its value ecosystem. Nexon expects the PC version of MapleStory N to launch on the Avalanche Network by the end of this year.

Earlier, the Avalanche Labs development team released a Durango upgrade and launched "Teleporter" to enhance interoperability in its subnet ecosystem. At this juncture, the Web3 versions of well-known games are launched, and their ecological tokens generally experience considerable increases. As of writing, AVAX is quoted at $54.55, with a 24-hour increase of 15.88%; Gamer Arena (GAU) is currently quoted at $0.11, with a 24-hour increase of 41.5%; Joe (JOE) is currently quoted at $0.7372, with a 24-hour increase of 16.3%.

Same situation as Near, The meme currency on Avalanche has also been resurrected, and COQ has risen by more than 300% since the bottom. At the time of writing, the COQ price is $0.0(5)58, up 3% in 24 hours.

Backed by Telegram, the market It is rumored that TON is listed on Binance and is expected to be listed

Another well-established Layer 1 public chain TON has also experienced large gains due to Telegram’s “integration”.

On February 28, Telegram official news stated that the Telegram advertising platform will be officially open to all advertisers in nearly a hundred new countries, and channel owners in these countries will Receive 50% commission from Telegram's revenue from displaying ads on its channels. Officials stated that in order to ensure that advertising payments and withdrawals are fast and secure, the TON blockchain will be used exclusively, and the officials will share the revenue with channel owners, which will create a virtuous cycle where content creators will be able to cash out their Toncoin, or Reinvest it into promoting and upgrading their channel.

Related reading: "Telegram advertising will be paid in TON. What impact will it have on TON? 》

After the news was announced, TON rose by more than 27% in a short time. As of writing, its price was US$4.39, a 24-hour increase of 29.5%.

March 1, Binance has launched TON 1-50 times U-standard perpetual contract, which also made expectations for Binance to launch TON spot, further driving price increases.

Smart money flows into FTM, and the ecosystem deserves attention

Since March, smart money has flowed into FTM many times Flow into Fantom’s native token FTM. On March 3, according to Nansen data, FTM, MKR, and ZETA were at the top of the Smart Money 24-hour inflow list, with FTM inflows of approximately US$1.53 million. The next day, FTM briefly broke through $0.7, rising 30.56% in 24 hours. According to Spot On Chain monitoring, a giant whale that purchased 4.71 million FTM (approximately US$2.69 million) through Gemini and Airswap in the past two days has made a profit of US$600,000 in two days.

On March 5, FTM once again became the main destination for smart money inflows, with an inflow of approximately US$1.79 million that day, ranking 24th in Smart Money along with RNDR, BEAM, etc. Hours into the top of the list. At the time of writing, FTM is trading at $0.83, up 2.5% in 24 hours.

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