tl;dr

The Open Network (TON), associated with Telegram, is launching its first layer-2 scaling network in collaboration with Polygon Labs. The TON Applications Chain (TAC) will connect to the Ethereum ecosystem using Polygon's Chain Development Kit and AggLayer interoperability protocol. TAC aims to enabl...

The Open Network (TON) is teaming up with Polygon Labs to introduce TON Applications Chain (TAC), a layer-2 scaling network that will bridge the Ethereum ecosystem with TON. This collaboration aims to enhance decentralized app integration within Telegram, driving user engagement and fostering DeFi adoption. Although the launch timeline for TAC has not been specified, the partnership is poised to significantly impact the cryptocurrency landscape.


Specifically, TAC will utilize Polygon's Chain Development Kit and AggLayer interoperability protocol to connect the Ethereum Virtual Machine applications to the TON ecosystem. This strategic move marks TON's foray into layer-2 scaling networks, providing a seamless bridge between TON and Ethereum ecosystems and delivering compelling opportunities for user engagement and DeFi activities.


Notably, TAC's launch coincides with a surge in Telegram gaming incentivized by cryptocurrencies. The layer-2 network is positioned to further incentivize DeFi activity within TON, potentially shaping the future of DeFi adoption. However, the precise timeline for the launch of this layer-2 chain remains undisclosed at this time.


This collaboration between TON and Polygon Labs has prompted industry figures, such as Michael Egorov, to emphasize the significance of bridging the expertise of Ethereum Virtual Machine applications to TON. As the founder of Curve Finance, Egorov expressed confidence that this partnership could connect millions of Telegram users with DeFi, potentially propelling the next wave of DeFi adoption.


Despite the absence of a confirmed launch timeline for TAC's layer-2 chain, the ramifications of this collaboration are poised to reverberate throughout the cryptocurrency space. With Telegram increasingly embracing TON and the expanding landscape of crypto-incentivized gaming, the intersection of TON and Ethereum ecosystems is poised to shape the future trajectory of DeFi and cryptocurrency adoption.

More about Emeren Group Ltd

Emeren Group Ltd, ReneSola Ltd, develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.


Industry: MANUFACTURING

Sector: SEMICONDUCTORS & RELATED DEVICES

Employees: 87641000

Market Cap: None

Dividend Yield: None

EPS: -0.16

P/E Ratio: 1.918

ROE: -0.127

Volume: 106582000

50-Day Moving Average: 4.88

200-Day Moving Average: 3.42

RSI: 0.148

More about United States Steel Corporation
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United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.

Industry: MANUFACTURING, STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)

Stock Symbol: 8721931000

Current Price: 11.21

Price Change: 0.2

Change Percentage: 3.46%

Market Cap: 79.23 billion

Earnings per Share (EPS): 0.0489

Revenue: 17.743 billion

Price to Earnings (P/E) Ratio: 38.25

Dividend Yield: -0.129%

Dividend per Share: -0.069

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More about Meta Platforms Inc.

Industry: Technology, Services-Computer Programming, Data Processing, etc.

Market Cap: 1.34T

Current Price: $30.49

Change: $0.5

52-Week Range: $17.36 - $55.67

Price-Earnings Ratio (P/E): 0.321

Volume: 142.71M

Average Volume: 996M

Dividend Yield: 1.141%

Beta: 0.273

More about Meta Platforms Inc.

Meta Platforms Inc. is a technology company headquartered in Menlo Park, California. It develops products for connecting and sharing through various devices globally.

Sector: Technology

Industry: Services - Computer Programming, Data Processing, etc.

Market Cap: $1.34 trillion

Current Price: $30.49

Price Change: $0.5

52-week Low: $17.36

52-week High: $55.67

Relative Strength Index (RSI): 55.67

Volume: 142,711,996

Market Capitalization: $520.89 billion

Price to Earnings (P/E) Ratio: 1.141

Earnings per Share (EPS): $0.273

More about Alamos Gold Inc

Alamos Gold Inc

Alamos Gold Inc. is engaged in the acquisition, exploration, development and extraction of gold in North America, Canada and Mexico. The company is headquartered in Toronto, Canada.

Industry: ENERGY & TRANSPORTATION

Business Sector: GOLD AND SILVER ORES

Market Cap: 6660930000

Current Price: 32.19

Change: 0.1

Change %: 0.52

YTD High: 2.649

YTD Low: 0.194

Volume: 1049400000

EPS: 18.99

PE Ratio: -0.116

Dividend: 0.104

More about Meta Platforms Inc.
Meta Platforms Inc. Summary

Meta Platforms Inc.

Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, PCs, virtual reality headsets, wearables and home devices around the world. The company is headquartered in Menlo Park, California.

Industry

Technology, Services-Computer Programming, Data Processing, etc.

Key Financial Data

Market Cap: 134.26B

Current Price: $30.49

Dividend Yield: 0.5%

Price to Earnings Ratio: 17.36

52-Week High: $55.67

52-Week Low: $30.321

Volume: 142.71M

Average Volume: 996M

EPS: $520.89

PE Ratio: 1.141

Beta: 0.273

More about C3 Ai Inc
Stock Analysis: C3 Ai Inc

C3 Ai Inc (C3)

Sector: Technology

Industry: Services-Prepackaged Software

Market Cap: $3,709,591,000

Dividend Yield: None

EPS: -2.34

PE Ratio: 2.602

Forward PE Ratio: -0.901

Volume: 310,582,000

Stock Price: $29.35

52-week Range: $0 - $0

RSI (14): 0.196


More about Sprott Focus Trust

Sprott Focus Trust experienced a notable increase, rising by 8.02 points to reach 222.685. This positive movement suggests a potential bullish trend in the technology sector. The Relative Strength Index (RSI) also indicates a strengthening position, climbing by 0.498 to 0.93. Additionally, the stock displayed a notable increase in volatility, with Bollinger Bands expanding by 0.281, reaching 3.272.

Despite these promising indicators, it's important to note that the stock encountered resistance at the 8396500 level, potentially signaling a temporary halt in its upward trajectory. The moving average also exhibited a slight decline, decreasing by 2.366. It's crucial for investors to approach this situation with caution, considering the potential impact of these factors on future market performance.

More about TransAlta Corp

TransAlta Corporation Stock Analysis Summary

TransAlta Corporation owns, operates, and develops a diverse fleet of electric power generation assets in Canada, the United States, and Australia. The company is headquartered in Calgary, Canada.

Sector: Energy & Transportation

Industry: Electric Services

Market Cap: 2,105,237,000

Price: 4.839

Change: 0.225

Change %: 1.43

PE Ratio: 11.23

EPS: 0.194

Revenue: 3,213,000,000

Dividend Yield: 10.4

Beta: -0.343

Volatility: -0.13

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24