WATcoin's price surged over 40% in the last 24 hours following Animoca Brands' support announcement. The token's current market cap is approximately $17 million with a trading volume of $1 million.

WATcoin Price Surge and Animoca Brands Support

WATCoin rates were descending over 85% in the last 24 days until the situation changed with Animoca Brands' announcement. The blockchain company plans to purchase additional WAT tokens from the open market to back the project. GAMEE, a subsidiary of Animoca Brands, developed the WatBird Telegram Mini app. As a major investor in Toncoin, Animoca Brands aims to strengthen the TON ecosystem through the acquisition of WAT. "Through the token purchase, Animoca Brands reinforces its commitment to WatBird’s role in supporting the broader TON ecosystem," stated Animoca Brands.

Through the token purchase, Animoca Brands reinforces its commitment to WatBird’s role in supporting the broader TON ecosystemAnimoca Brands

WATCoin's Role in the Toncoin Ecosystem

Holders of WAT tokens can utilize them in various scenarios within the Watbird app. The primary use is that WAT tokens work proportionally with the app's rank, meaning higher ranks lead to more perks, such as airdrops and premium access. Additionally, holders can purchase limited collectibles, allowing them to customize their game perks.

Popularity of WatBird and Its Backing

The WatBird X account has recently gathered a significant number of followers, approaching nearly 1 million. In contrast, the Telegram account boasts over 4.4 million subscribers. The WatBird platform is backed by notable Web 3 investors, including Binance Labs, Ton Foundation, The Sandbox, Mocaverse, and Animoca Brands. Rapid growth has been aided by community members who engage in NFT mining and token staking.

Animoca Brands' investment has provided a new impetus for the development of WATcoin and the WatBird app within the Toncoin ecosystem. Continued support from the blockchain company may foster further growth and integration of the token.