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ERN Price Surges 16% As Ethernity Chain Debuts Layer 2
Ethernity debuts its AI-secured Layer 2 network, driving ERN's 16% price surge and empowering Web3 brands with eco-friendly tools.
Ethernity debuts its AI-secured Layer 2 network, driving ERN's 16% price surge and empowering Web3 brands with eco-friendly tools.
Ethernity, an NFT-focused blockchain platform, has announced its new Ethernity Chain network to the public, leading to a 16% surge in the ERN token price. This enormous price leap came soon after the introduction of an innovative Layer 2 solution on the Ethereum blockchain, with strong security measures powered by AI.
The Layer 2 network is entertainment brand focused, and the
new improvements make Ethernity Chain the leading platform for brands to move
into the Web3 environment on a global scale.
The Ethernity Chain’s development centers on its emphasis on advanced AI security functions. The chain’s AI functionalities include integrated Digital Rights Management (DRM) controls that help preserve intellectual property (IP) and address counterfeit asset trading. This type of security model provides a safe environment for global brands and their customers, protecting proprietary data.
Additionally, Ethernity Chain offers a plug-and-play toolkit that intends to reduce the barrier of entry for global entertainment brands that want to operate on the blockchain.
Using no-code tools, companies can seamlessly integrate their IP and grow tokens, digital collectibles, and other Web3 applications such as marketplaces and games.
The Ethernity Chain network is designed to be an eco-friendly place for development and utilization purposes, helping to reduce gas fees, promote sustainability, and lower costs. This method is in line with the growing need for eco-friendly solutions in the blockchain, and the initiative’s objective is to attract developers by minimizing economic limitations.
Ethernity Chain is also 100% Ethereum Virtual Machine (EVM) compatible, seamlessly integrating into current standards such as tokens, NFTs, and decentralized finance (DeFi) smart contracts. Such compatibility allows the current developers of Web3 to migrate their projects seamlessly into Layer 2 without much alteration.
Following the announcement of the Layer 2 network, the ERN
token surged by 16%, with a live price of $5.19 at the time of writing. The
24-hour trading volume reached over $41 million after rising by 260.76%,
reflecting growing investor interest, while the market cap exceeded $106
million with a 15% rally.
At the same time, several new projects will be launched on the Ethernity Chain, along with FanableApp, the marketplace for Real-World Assets (RWAs), and Exorians, a next-gen sci-fi game. All these projects and applications from the key industry teams will exploit the full functionalities of Ethernity Chain and its support.
Ethernity is already known for its collaborations with world-renowned names like Lionel Messi and Shaquille O’Neal, and it plans to develop its ecosystem further with bigger entertainment companies.
Co-CEO Nick Rose Ntertsas pointed out that transforming the
platform into a Layer 2 solution will “transform how entertainment brands
interact with their audience using Web3 technologies.”
The entry price for this order is very attractive as some analysts believe that ONDO's reasonable price is in the range of 0.4-0.7 USD. With a significant investment beyond the expected scope, Lookonchain suspected the whale had an insider.
Someone created a new wallet 27 hours ago and withdrew 1,870.68 $ETH ($5.7M) from #Gemini .
Then he spent the 1,870 $ETH ($5.7M) to buy 6M $ONDO at an average price of $0.95 in the past 27 hours.
Does this guy know something that we don't? https://t.co/3ZQ6s6SnVM pic.twitter.com/G1udIF8Mhw
— Lookonchain (@lookonchain) May 17, 2024
This transaction attracted the attention of the crypto community and ONDO, the native token of Ondo Finance, skyrocketed 11% immediately after the purchase.
However, ONDO has dropped after the latest bounce and is trading below the $1 threshold at the time of writing. However, ONDO is still increasing by more than 19% over the past week.
Crypto analyst Mags commented on the price movement, sharing analysis on the next price target for ONDO.
“If the price closes above 1 USD, the next target will be 1.4 USD and 2.7 USD or more.”
$ONDO keeps printing up +131%
$1.5 Incoming, Binance listing soon 👀 https://t.co/bF8lznNDOP pic.twitter.com/5v95S4aZvn
— Mags (@thescalpingpro) March 25, 2024
A whale created a new wallet on May 16 and withdrew 1,870.68 ETH (worth $5.7 million) from the Gemini cryptocurrency exchange to buy 6 million ONDO tokens at an average price of 0, 95 USD.
The entry price for this order is very attractive as some analysts believe that ONDO's reasonable price is in the range of 0.4-0.7 USD. With a significant investment beyond the expected scope, Lookonchain suspected the whale had an insider.
Someone created a new wallet 27 hours ago and withdrew 1,870.68 $ETH ($5.7M) from #Gemini .
Then he spent the 1,870 $ETH ($5.7M) to buy 6M $ONDO at an average price of $0.95 in the past 27 hours.
Does this guy know something that we don't? https://t.co/3ZQ6s6SnVM pic.twitter.com/G1udIF8Mhw
— Lookonchain (@lookonchain) May 17, 2024
This transaction attracted the attention of the crypto community and ONDO, the native token of Ondo Finance, skyrocketed 11% immediately after the purchase.
However, ONDO has dropped after the latest bounce and is trading below the $1 threshold at the time of writing. However, ONDO is still increasing by more than 19% over the past week.
Crypto analyst Mags commented on the price movement, sharing analysis on the next price target for ONDO.
“If the price closes above 1 USD, the next target will be 1.4 USD and 2.7 USD or more.”
$ONDO keeps printing up +131%
$1.5 Incoming, Binance listing soon 👀 https://t.co/bF8lznNDOP pic.twitter.com/5v95S4aZvn
— Mags (@thescalpingpro) March 25, 2024
Fantom (FTM), a once famous layer-1 blockchain, is receiving attention again ahead of an important upgrade called Sonic.
On the evening of May 17, the Fantom Foundation posted an important governance proposal, announcing to the community a new project called Sonic Network (S). Sonic Network is a new layer-1 blockchain developed by Fantom on the new Sonic technology platform, replacing Fantom's old Opera version.
https://x.com/FantomFDN/status/1791517798205907116
Once the Sonic Network is deployed, FTM holders will be able to redeem tokens 1:1 for the Sonic network currency called S. Those who do not want to redeem can still continue to hold FTM. However, the Fantom Foundation encourages users to migrate to the new network as all the attention and development effort of the project will be transferred here.
The rest of the proposal retains the changes that were mentioned in the Sonic upgrade announcement at the beginning of the year.
Both Fantom's FTM and TVL token prices have increased more than 30% in the last 7 days, the clearest signal that money is being poured back into the project.
Specifically, while the FTM price increased from 0.64 USD to 0.84 USD, the value locked (TVL) of Fantom increased to 200 million USD on May 16, before decreasing to 129 million USD at the time of writing. This is the highest TVL level that Fantom has achieved since July 2023, when the Multichain hack occurred, causing heavy damage to the ecosystem.
