TON Blockchain Partners with Mocaverse; Whats Next?
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TON Blockchain is making a buzz in the market with exciting tap-to-earn projects like Notcoin and Hamster Kombat. Besides this TON announced a strategic partnership with Animoca Brands’ Mocaverse and the MOCA Foundation to produce the largest interoperable consumer networks in the crypto land space.
Decoding the TON Partnership With Mocaverse & MOCA Foundation
TON Blockchain has partnered with Animoca Brands' Mocaverse and the MOCA Foundation to create a large interoperable consumer network, a target to reach over 1.6 billion users. The merger between TON and Moca Network unites their substantial user bases, with TON contributing 900 million users and Moca Network adding 700 million. This collaboration results in a combined potential reach of over 1.6 billion users, greatly enhancing the reach and impact of both platforms.
This alliance aims to drive widespread adoption of crypto and reshape blockchain technology. A steering committee will oversee initiatives and manage a $20 million token swap agreement to facilitate user growth and ecosystem expansion.
The partnership will also focus on user reputation through the Realm SDK. Additionally, Animoca Brands revealed its intention to deploy a validator on the Core chain. This move is designed to bolster the security and stability of the Core blockchain network. Validators are essential for transaction verification and ledger accuracy, playing a pivotal role in ensuring the network's overall security.
By this move Animoca Brands supporting its vision to unlock $1.3 trillion of trapped liquidity on the Bitcoin blockchain.
Will The Partnership Advance the Toncoin Price
Despite the growth in the ecosystem and existing partnerships Toncoin witnessing weakness on the daily technical chart. The coin dropped by almost 5.27% this week showcasing bearishness.
At press time TON price was trading at the level of $7.045 with an intraday loss of 1.69% as per the TradingView data.
At the time of writing, TON's market cap stands at the level of $17.72 Billion and the 24-hour trading volume was $230.54 Million. Furthermore, the 24-hour volume to market cap ratio was 1.29% demonstrating good liquidity in the Ton. Currently, the Toncoin price breaking below the 50-EMA level showcasing bearishness on the daily technical chart.
According to the technical summary from TradingView out of 26 indicators, 12 indicate a sell signal, 9 indicate a neutral signal and 4 are on the buy side. The overall weightage is on the bearish side demonstrating bearish momentum in the TON ecosystem.
Conclusion
The partnership between TON Blockchain and Animoca Brands Mocaverse, along with the MOCA Foundation, aims to create a vast interoperable consumer network, potentially reaching over 1.6 billion users. Despite this strategic alliance and ecosystem growth, Toncoin is currently experiencing bearish trends, with a notable drop in price and technical indicators signaling a sell. The collaboration seeks to drive crypto adoption and enhance blockchain technology, but market conditions remain challenging for Toncoin.
