KEYTAKEAWAYS
- Ethereum fundamentals improve despite price drop
- Gumi Inc. invests $6.6M in Bitcoin for Web3 growth
- Telegram adopts TON as exclusive blockchain infrastructure
CONTENT
ETHEREUM’S FUNDAMENTALS IMPROVE DESPITE A 20% PRICE DROP
A new Citibank report highlights that despite Ethereum (ETH) dropping over 20% this year, its fundamentals are improving. The total value locked (TVL) in the Ethereum network has increased significantly, and Ethereum ETFs continue to attract funds. Since their launch in July, these ETFs have received $3.2 billion in inflows. Additionally, search interest in Ethereum is rising.
The report mentions that while user activity has been fluctuating, Ethereum’s fundamentals are not entirely negative. It also points out that Trump’s World Liberty Financial holds over $200 million worth of ETH, which could be seen as a sign of growing U.S. support for the crypto industry.
Analysis：
Even though ETH’s price has fallen, the rising TVL and growing interest in Ethereum ETFs suggest that the market still has confidence in Ethereum’s future. Trump’s $200 million ETH investment could bring more mainstream attention to Ethereum. As Bitcoin’s dominance increases, Ethereum might remain under pressure in the short term.
However, this could set the stage for Ethereum’s future growth, especially as the focus shifts to network upgrades and long-term sustainability.
GUMI INC. TO BUY $6.6M IN BITCOIN TO STRENGTHEN WEB3 BUSINESS
According to The Block, Tokyo-listed mobile gaming company Gumi Inc. plans to buy Bitcoin worth 1 billion yen ($6.6 million) between February and May to expand its Web3 business and node operations. The company aims to use extra Bitcoin funds to participate in the Babylon Bitcoin staking protocol, earning rewards through BTC price appreciation, staking yields, and validator incentives.
This move makes Gumi the first Japanese public company to join the Babylon protocol. Gumi also plans to evaluate its crypto holdings quarterly based on fair value.
Meanwhile, Metaplanet Inc., a Japanese investment advisory firm, has built up a Bitcoin reserve. The company currently holds 1,762 BTC and plans to increase it to 10,000 BTC by year-end.
Analysis：
Gumi Inc.’s investment reflects Japan’s growing interest in Web3 and Bitcoin investment, particularly in staking protocols like Babylon. By leveraging Bitcoin’s value appreciation and staking rewards, Gumi aims to generate stable returns in a volatile market.
At the same time, Metaplanet Inc.’s Bitcoin reserve expansion signals a positive outlook on Bitcoin as a long-term asset. With more companies entering the crypto space, Bitcoin’s role as a corporate reserve asset is likely to grow.
TELEGRAM SETS NEW BLOCKCHAIN APP RULES, TON BECOMES EXCLUSIVE INFRASTRUCTURE
According to an official announcement from TON, Telegram will implement new blockchain app rules starting February 21. TON blockchain will become the exclusive infrastructure for Telegram’s blockchain app ecosystem.
To support this transition, TON has launched a migration support program, helping developers move their apps from other blockchains to TON. Eligible projects can receive up to $50,000 in ad credits, along with TON Connect migration tools, technical support, and marketing assistance.
Analysis
This change highlights TON blockchain’s growing importance within Telegram. By making TON the only supported blockchain, Telegram creates a more unified ecosystem while encouraging developers to migrate their projects.
The migration support program provides advertising, technical help, and marketing support, which will likely attract more developers. This move strengthens TON’s position in the blockchain space and promotes wider adoption of blockchain applications.
Also Read：
CoinRank Crypto Digest: February 10, 2025
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