tl;dr
In the wake of the recent debut of spot ETFs in the U.S., smaller cryptocurrencies like CHZ and KLAY have seen significant price rallies while bitcoin remains directionless. Chiliz's CEO plans an aggressive merger and acquisition strategy, and Klaytn and Finschia Foundation have proposed a merger to...
In the wake of the recent debut of spot ETFs in the U.S., smaller cryptocurrencies like CHZ and KLAY have seen significant price rallies while bitcoin remains directionless. Chiliz's CEO plans an aggressive merger and acquisition strategy, and Klaytn and Finschia Foundation have proposed a merger to create an Asian Web3 powerhouse. Holders of KLAY and FNSA token will be able to swap their holdings for a new coin after the merger, which will have low inflation, a burning mechanism, and a zero reserve strategy.
Smaller cryptocurrencies are having their moment as bitcoin (BTC) trades listless in the wake of the recent debut of spot ETFs in the U.S. Of particular note are CHZ, the native token of the Chiliz network used to purchase Fan tokens on Socios.com, and KLAY, the utility token of Layer 1 blockchain network Klaytn, which is backed by Korean internet giant Kakao. In the past 24 hours, CHZ has rallied 10%, topping $0.11 for the first time since May last year, and KLAY has rallied 14.7% to $0.228, CoinDesk data shows.
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