As a seasoned crypto investor with over a decade of experience in this dynamic and ever-evolving market, I find the recent surge of WATCoin (WAT) intriguing. Having closely followed the growth of the Toncoin ecosystem, I’ve seen firsthand its potential to disrupt traditional financial systems.
As an analyst, I observed a significant increase in the value of WATCoin (WAT), a utility token associated with the Telegram Mini app WatBird. In just 24 hours, it surged over 40%, trading at approximately $0.00025 during the early New York session yesterday. This impressive growth can be attributed to a positive influence from Animoca Brands, a prominent player in the blockchain gaming industry. With a fully diluted market capitalization of around $17 million and daily average traded volume of roughly $1 million, WATCoin received a much-needed boost from this interaction.
For approximately 24 days now, the value of WAT has been steadily decreasing since its debut, dropping by more than 85%. Yet, on Thursday, Animoca Brands revealed their intention to buy extra WAT tokens from the open market with the aim of boosting the project.
It’s important to mention that the WatBird Telegram Mini app belonging to WatCoin was actually created by GAMEE, a subsidiary of Animoca Brands. This is significant because Animoca Brands, as a substantial investor in Toncoin (which is backed by Telegram), acquiring WAT tokens aligns with its strategic aim to bolster the TON ecosystem.
By buying tokens, Animoca Brands is emphasizing their dedication to WatBird’s role in strengthening the larger TON network,” the company stated.
During their announcement, Animoca Brands didn’t reveal the particular details about their WAT token acquisition.
Why WatBird and WATCoin Standout in the Toncoin Ecosystem
In the world of WatBird, holding WAT tokens offers multiple benefits. Notably, the more WAT tokens a user has, the higher their rank within this universe. This elevated status comes with various advantages such as exclusive perks, airdrops, and priority access to premium features.
On the WatBird platform, users can utilize the WAT token to acquire unique, limited collectibles for personalization purposes. By holding onto these WAT tokens, individuals can enhance their standing and enjoy exclusive in-game benefits that become accessible at advanced levels.
In this expansive WatBird Cosmos, a single token – $WAT – serves as the fuel for all activities. Here, your standing, tactics, and abilities intertwine to unveil tremendous benefits! 🚀🔥
Frens, $WAT is the key to everything:
1⃣ Status is Power – your $WAT balance defines your rank. Reach elite…
— WATCoin (@WatBird) October 17, 2024
As a result, there’s been an increase in users on the WatBird platform lately, with its X account approaching almost a million followers. On Telegram, WatBird boasts over 4.4 million subscribers.
As a researcher immersed in the dynamic world of Web3, I’m proud to be part of a project that has garnered significant growth in recent times. With backing from esteemed investors such as Binance Labs, TON Foundation, The SandBox (SAND), Mocaverse, and Animoca Brands – to name a few – the WatBird protocol I’m involved with has experienced exponential expansion.
On the cutting edge with an active online crowd participating in NFT digging and token savings, the WatBird platform distinguishes itself among other similar platforms.
Bigger Picture
In recent times, the Toncoin ecosystem has experienced rapid expansion, largely due to Telegram’s enormous user base numbering nearly 1 billion. Currently, the total value locked within the Toncoin ecosystem stands at approximately $400 million, and the market capitalization of its Stablecoins is roughly $868 million.
As a result, TON has transitioned into a significant altcoin in the market. It currently boasts a fully diluted market capitalization of approximately $26 billion and trades with an average daily volume exceeding $234 million. Its 24-hour volatility stands at 2.2%.
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2024-10-17 17:21