TREE NEWS reports: Harmony’s ONE token has surged nearly 500% since the project announced on September 6 that it would shut down its mainnet, trading at 0.00411 USDT with a 24-hour gain of 82.1%. Harmony has issued two proposals to fully close the Layer 1 mainnet launched in 2019, migrate the native ONE token to Ethereum, and pivot to an AI video editing business.
Harmony’s ONE Token Surges Nearly 500% Since Mainnet Shutdown Announcement
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AI take
A near-500% rally on a shutdown announcement inverts the usual reflex: markets are pricing the migration and AI pivot, not the death of the chain. The move signals that holders see more optionality in an Ethereum-based ONE and a video-editing business than in a struggling Layer 1. Whether the proposals pass, and whether the token retains utility after migration, is the open question.
Generated by AI for reference only.
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