As a seasoned analyst with over two decades of experience in the volatile world of cryptocurrencies, I find myself intrigued by Animoca Brands’ latest move to buy more WAT tokens. Given my extensive exposure to market fluctuations and the often unpredictable nature of this space, I can’t help but feel a sense of déjà vu.
According to Animoca Brands, a company specializing in blockchain investments, they intend to buy additional WAT tokens from the public market. This move has resulted in a significant surge of about 40% in the token’s value.
In a recent blog post, Animoca Brands – a game developer and investment firm based in Hong Kong – announced their intentions to purchase additional WATCoin tokens from open market sources. This move is aimed at reinforcing the role of WATCoin (WAT) within The Open Network’s larger ecosystem.
By buying tokens, Animoca Brands is showing their continued dedication to helping WatBird thrive within the larger TON ecosystem.
Animoca Brands
Although details about when and how many WAT tokens will be bought haven’t been revealed yet, the announcement itself has boosted the token’s price by 40%, pushing it up to $0.00039.
Information gathered from market aggregators indicates that the WAT token has exhibited heightened volatility recently, experiencing rapid price swings of more than 140% within the last few days. Despite this recent surge, which saw a gain of over 85%, the token is currently 64% below its all-time high, a level it reached in early September.
WATCoin is the token linked with the TON network and supported by TON Ventures for WatBird, a small app developed on Telegram by GAMEE, a subsidiary of Animoca Brands. In late August, GAMEE received an unspecified investment from Pantera Capital, a venture capital firm based in California, to broaden its presence across various blockchain networks.
This investment signifies Pantera Capital’s continued dedication to the TON system, having made their largest-ever investment in this network earlier in May. The move underscores their faith in TON’s prospects, even during the aftermath of the collapse of the FTX exchange.
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2024-10-17 12:27