Affected by the merger news, KLAY and FNSA both rose by more than 20% in 24 hours

According to market data, on January 16th, the Klaytn token KLAY was priced at $0.25, with a 24-hour increase of 31.8%. The Finschia token FNSA was priced at $34.74, with a 24-hour increase of 22.6%.

Earlier news reported that Korean internet giant Kakao's Layer 1 network Klaytn and Japanese communication giant Line's public chain project Finschia proposed a merger. Both parties plan to create a new blockchain that supports both the EVM and CosmWasm frameworks, creating the largest web3 ecosystem in Asia.