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The SPX index is down 0.04% as the 10-year Treasury yield surpasses 4.4%. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 3.75% and 8.48%, respectively in the past 24 hours.
Today’s outperformer is TON, which jumped 20.4% after TON launched a $5 Million Toncoin Incentive for Palm-Scanned Digital ID Verification.
The Open Network (TON), launched in 2018, a decentralized Layer 1 blockchain that utilizes a proof of stake (PoS) consensus model for transaction validation and payment settlement. Initially called Gram, Toncoin serves various purposes, including paying transaction fees within the TON ecosystem. TON is offering $5 million in Toncoin tokens for users who verify their identity with palm scanning technology, aiming to enhance digital identity verification and Web3 integration for Telegram users. This initiative, part of a broader effort to boost user and developer engagement, includes robust privacy and security measures. It complements TON's community rewards and the launch of a monetized Telegram Ad Platform.
Ethena Labs' native token, ENA, saw a 15% increase in value to $1.26 after the DeFi protocol announced increased staking rewards in its "season 2" update. Initially launched at $0.64, ENA's rise coincides with a new reward system where users locking 50% of their ENA against USDe balances receive a 50% boost. The initial staking cap is set at $200 million, with adjustments planned for future expansion. This surge in ENA's value has led to significant withdrawals from Binance for staking purposes, reflecting growing investor interest. Ethena Labs also introduced a bitcoin purchasing and shorting strategy for yield generation, building on a similar approach previously applied to Ether.
Cashmere has launched Season 1 Goat Points, rewarding users based on their testnet app transactions, NFT holdings, and overall blockchain activity. Points range from 100 to 2000 based on the total number of transactions, with additional points for testnet and mainnet NFT holders. Factors like transaction count, wallet age, and ETH balance further influence rewards, with anti-Sybil measures in place. Future seasons will offer new opportunities for earning points. Claiming is available through the Cashmere exchange website.