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The TON Blockchain ecosystem is set to expand. A new layer-2 network is in the works. It's called the TON Applications Chain (TAC). TAC will use Polygon's technology. This includes Polygon's Chain Development Kit and AggLayer. The Open Platform, a TON-focused investor, backs the project. The announcement came on Tuesday. It was made at the Ethereum Community Conference in Brussels. The new network will be EVM-compatible. This is a big deal. EVM compatibility means easy porting. Ethereum developers can move their apps to TAC with little fuss. And that is very promising as it opens so many doors for the TON ecosystem. The press release outlines TAC's goals. It aims to bring EVM-based decentralized apps to TON. It also wants to attract Ethereum developers to build for Telegram users. TAC could boost TON's capabilities. DeFi apps, gaming, and decentralized identity solutions are on the cards. Polygon's tech is key to this expansion. Pavel Altukhov, TAC's founder, explained the choice. "We chose Polygon for its EVM compatibility," he said. He also cited liquidity availability and deployment support as factors. This move follows a trend. Major blockchain companies have been launching layer-2 networks. Most have focused on Ethereum. Coinbase kicked things off last August. They launched "Base" using Optimism's OP Stack. Others followed suit. Celo and Worldcoin announced similar plans. OKX joined the party in April. They launched "X Layer" using Polygon's CDK. The layer-2 race is heating up, and TON is jumping in with both feet.

Bitcoin miners are shifting to other cryptocurrencies amid falling profits, reports CryptoQuant CEO Ki Young Ju. Bitcoin's hashprice has hit an all-time low. This metric indicates expected daily earnings per unit of mining power, which is a fundamental indicator of the overall efficiency of the mining business. The trend is affecting mining companies' strategies. Many are simply forced to slow equipment investments. Some are switching to alternative proof-of-work coins. These moves aim to hedge against market uncertainty. Ju states, "Bitcoin hashprice hit an all-time low. Many mining companies slowed mining rig investments, with some switching to other PoW coins to hedge against market uncertainty." He believes this shift is temporary. Miners are not long-term bearish, in his view. They are waiting for buy-side liquidity to recover. This pattern suggests miner capitulation. Such behavior often precedes Bitcoin bull runs. Bitcoin currently trades at $60,681. Ju also sees signs of an emerging altcoin season. Ethereum's Market Value to Realized Value (MVRV) ratio is rising faster than Bitcoin's. This indicates growing interest in Ethereum relative to its on-chain fundamentals. "We're entering early altcoin season," Ju notes. "ETH MVRV is rising faster than Bitcoin (BTC) MVRV, suggesting ETH market is heating up relative to its on-chain fundamentals." He speculates this could be an Ethereum-focused trend. Current ETF developments may drive this dynamic. Historically, Ethereum price surges often lead to broader altcoin rallies, simply put, ETH is a locomotive for other altcoins to follow, and it quite often happens exactly so. Market participants will be watching closely for potential ripple effects across the cryptocurrency sector. The situation highlights the evolving dynamics in the cryptocurrency mining industry. Miners are adapting to changing market conditions. Their strategies reflect broader trends in profitability and investor sentiment across different blockchain networks.

Kevin Svenson, a cryptocurrency analyst and trader, is predicting a new altcoin season ahead. He has identified a Bitcoin metric that could show us a significant altcoin market movement. The one you were probably expecting. The metric in question is Bitcoin dominance. It measures Bitcoin's market capitalization relative to the entire cryptocurrency market. Svenson notes, "Bitcoin dominance beginning to fall below its trend line, which could be a good sign for the altcoins." He observes that the total altcoin market cap is finding support despite Bitcoin's recent drop. This suggests seller exhaustion in the altcoin market. "[This] is a sign that sellers in the altcoin market are exhausted and we may start to see altcoin season kick in," Svenson explains. The analyst points out an unusual market behavior. Typically, when Bitcoin falls, its dominance rises as investors seek refuge in the leading cryptocurrency. However, the current situation is different. Bitcoin dominance is falling alongside Bitcoin's price. Svenson interprets this as a positive sign for altcoins. "That is a sign that altcoins are gaining more confidence, more speculators, more money is flowing into the altcoins," he states. The analyst also highlights a bullish divergence between altcoins and Bitcoin. He believes the altcoin market cap indicates seller exhaustion, in other words, the market is ready for a change, probably a rather substantial one. "The altcoins are actually bullishly diverging against Bitcoin, you could say. What is clear looking at the altcoin market cap is that the sellers are exhausted," Svenson concludes. Altcoin season refers to a period when alternative cryptocurrencies outperform Bitcoin. Many market gamblers like this season immensely, because in muddy waters of altcoins it is oh so much easier to earn quick and significant profits. Historical examples include the 2017 bull run and the DeFi boom of 2020. During these periods, smaller cryptocurrencies often see significant price increases relative to Bitcoin.

A cryptocurrency analyst predicts substantial gains for a niche Ethereum-based asset. You've probably never heard about it. The forecast comes amid volatile market conditions. Credible Crypto, a pseudonymous trader, shared insights with his 399,300 X followers. He focused on Curve DAO's token, CRV. CRV is the native asset of a decentralized finance platform. The platform specializes in stablecoin trading. The analyst projects CRV could exceed $6. This represents a potential 1,724% increase from current levels. This forecast is contingent on Bitcoin reaching $100,000. CRV currently trades at $0.329, while Bitcoin is at $64,706. Credible Crypto also commented on Dogecoin. He set a bearish target between $0.04 and $0.08 for the popular memecoin. "Best-case scenario for DOGE that I can see is below- that is, finding support at the middle of our range [between $0.1 and $0.075] that we've just deviated above," he stated. He added, "Lose that, and sub $0.05 comes next." Dogecoin presently trades at $0.123. The analyst extended his bearish outlook to Pepe. He suggested PEPE might follow FLOKI's downward trend. PEPE currently trades at $0.0000113. FLOKI is priced at $0.000179.

Billionaire Arthur Hayes has recently predicted that Aptos will flip Solana over the next few years. Now as Solana suddenly starts to stumble, we are wondering if Hayes had a point. Solana has fallen by 1.5% in the past 24 hours. SOL slipped to $143.28 together with the whole market. But while Bitcoin and Ethereum are keeping pretty stable prices for quite a prolonged period, called accumulation, Solana is pretty much nosediving. SOL, which is the market’s fifth-biggest coin by capitalization, is down by 10% in a week and 18% in a month. Some analysts say, there is a positive side of this as it looks like a bottom out. So they expect Solana to show some bullish sentiments in the near future. They encourage everybody to buy SOL now. Hopefully, the token is about to rebound. There is no strong evidence to that sentiment, except for a fact that Solana trading volume has lifted from just over $1 billion a day ago to $1.5 billion yesterday. On the other hand, skeptics might say that was probably a whale sale. Which might again bring us to the idea of Solana struggling for real, rather than just regrouping for the next rebound. Solana still remains the second most popular altcoin on the market, slightly trailing behind Ethereum. Solana has been recently adopted by Visa and PayPal. These financial giants praise Solana for its blazing speed and low costs of transactions. According to some pretty convincing rumors, Solana might be the next crypto to be approved for ETFs by SEC. And that might bring Solana to a price hike. But there is an alternative opinion. BitMex founder and a billionaire Artur Hayes is very skeptical. He claims Solana will be soon overtaken by other altcoins. Hayes is particularly fond of Aptos, dubbed as 'Solana killer.' That sounds pretty wild, as most of us probably haven't heard of Aptos at all. We'll have to wait and see if Hayes has a point.