Are legacy public chains making a comeback?
Written by: shushu
As the crypto market enters a bullish phase, older public chains from the last cycle—such as Near and Fantom—have shown little activity, except for Solana and Avalanche. However, recently, as Bitcoin hits new highs, the native tokens of these public chains have begun to stir. Notably, FTM has repeatedly attracted smart money inflows over the past few days, while NEAR has reached a yearly high amid the ongoing AI hype.
Riding the AI Wave: NEAR Ecosystem Thaws with "Event Expectations"
NEAR Protocol co-founder Illia Polosukhin announced his participation in the "Transforming AI" keynote and panel discussion at GTC24 on March 20, alongside NVIDIA founder Jensen Huang. Following this news, NEAR briefly surpassed $5 and has since climbed above $8 at the time of writing.
In February 2023, NEAR outlined its potential as infrastructure for next-gen AI applications, creating a value layer for data pricing and rule-setting. Collaborations like the one with Cosmose AI to build a stablecoin payment system further solidify its position. Meanwhile, the ecosystem’s meme coin, BLACKDRAGON, has surged 700% from its bottom, currently priced at $0.0000078 with a 24-hour gain of 15%.
👉 Discover how NEAR is leveraging AI for growth
Gaming + Meme Coins Fuel Avalanche Ecosystem Rally
On March 11, Korean game publisher Nexon Group revealed plans to bring its iconic MMORPG MapleStory to Avalanche via MapleStory Universe, a Web3 iteration. The original game boasts 180 million users over two decades. The Web3 version, MapleStory N, will enable players to create worlds and earn Web3 rewards, though specifics remain undisclosed.
Avalanche Labs’ Durango upgrade and "Teleporter" tool further boosted interoperability, coinciding with Nexon’s announcement. Ecosystem tokens surged: AVAX (+15.88%), GAU (+41.5%), and JOE (+16.3%). Meme coin COQ also jumped 300% from its low.
TON Gains Momentum with Telegram’s Endorsement and Binance Rumors
TON’s price soared 27% after Telegram announced its ad platform would use TON blockchain for revenue sharing with channel owners. The subsequent listing of TON perpetual contracts on Binance fueled speculation about a spot listing, pushing prices higher. At press time, TON trades at $4.39, up 29.5% in 24 hours.
👉 Explore TON’s integration with Telegram
Smart Money Flows into FTM: Ecosystem Watch
FTM has emerged as a smart money favorite in March, with inflows of $1.53 million on March 3 and $1.79 million on March 5. A whale’s $2.69 million FTM purchase yielded $600K in profits within days. FTM currently trades at $0.83 (+2.5%).
FAQ Section
Q: Why is NEAR’s price rising?
A: NEAR’s AI partnerships and high-profile event participation have driven demand.
Q: What’s driving Avalanche’s growth?
A: Major gaming partnerships (MapleStory) and technical upgrades like Durango are key catalysts.
Q: Is TON’s surge sustainable?
A: Telegram’s adoption and Binance listing rumors provide strong momentum, but long-term viability depends on ecosystem development.
Q: Why is FTM attracting smart money?
A: Fantom’s low valuation and recent ecosystem activity make it a high-potential play for traders.