TON price increased by 24% after Telegram crossed 900 million users

March 12, 2024

I. Mainstream exchange news

• Coinbase sues the US SEC for refusing to formulate cryptocurrency rules.
• Binance adds Metis(METIS) on Earn, Convert, and Margin.
• Binance will list Metis (METIS) with seed tags applied.

II. Mainstream projects and trending events

• The Layer 1 Foundation, led by BRC-20 developer Domo, announces a new BRC20 governance structure.
• MetaMask is testing its first blockchain-driven payment card with MasterCard.
• Memeland has launched the social staking protocol Stakeland, which allows assets such as MEME to be staked to earn tokens from new projects.
• The Starknet Foundation announces the establishment of a gaming committee to promote its gaming ecosystem development.
• Tether will launch USDT on the Celo blockchain.
• MicroStrategy has once again purchased 12,000 Bitcoins.

III. Funding news

• The Web3 gaming project, MetaCene, has completed a new round of funding worth $10 million, led by SevenX Ventures.
• Monad Labs is in talks to raise over $200 million in funding, led by Paradigm, with an estimated value of $3 billion.
• NFT lending protocol NFTfi completed $6 million in A1 round funding, led by Placeholder VC.
• Eclipse Labs completed a $50 million Series A funding round, jointly led by Placeholder and Hack VC.
• Blockus completed $4 million in pre-seed round financing, led by Maple VC.
• AI Web3 startup Bluwhale completed a seed round of financing worth $7 million, led by SBI.

IV. Regulatory news 

• US FDIC officials are urging the country to formulate better digital asset policies to maintain US influence.
• The Central Bank of the Philippines plans to complete CBDC trials this year.
• The South Korea National Tax Service plans to build a comprehensive management system for virtual assets to prevent tax evasion in virtual assets.

IV. Popular projects 

Market overview

BTC has broken its historical high, reaching a peak of $72,800. Currently, there's resistance near the $75,500 mark. On March 11th, GBTC saw an outflow of $494 million, while FBTC had an influx of $215 million and HODL had an influx of $118 million. The net inflow for the day was $47.6 million. BTC's market value has surpassed $1.4 trillion, overtaking the silver market value, making it the eighth largest asset globally.

Telegram users exceed 900 million

Telegram users exceeded 900 million. The company is expected to become profitable this year or the next and is considering going public through an IPO. Meanwhile, the team has been actively introducing blockchain-related technologies and dApps on Telegram, guiding users to experience seamless Web3 operations, and preparing for the empowerment of TON. With the growing number of TG users, the application scenarios of TON will greatly increase. The price of TON has increased by 24% in the last 24 hours.

Tether launches USDT on Celo

On March 11th, Tether announced that it would issue USDT on Celo. At the same time, Celo's core contributors proposed on the community forum to use USDT as a gas token. This collaboration will greatly enhance the application of USDT in African countries. Currently, USDT supports 16 networks including Algorand, Avalanche, and Ethereum.

NICK soars 240% in the last 24 hours

Following the popularity of Nifty founder Nick O'Neill (@allnick)'s slogan "I choose rich every time", someone on the chain created the NICK token. The token has risen from a market value of $500,000 to the current $19.49 million, on-chain liquidity has reached $543,000, and the current number of holding addresses has exceeded 6,600, with a trading volume of $12.92 million in the last 24 hours.

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