Mocaverse (MOCA) is garnering more attention, and for good reason. On-chain data has revealed that Galaxy Digital, a well-known crypto financial services firm, has been very active in the MOCA token ecosystem.
They’ve been doing some interesting things and giving us some serious “market maker” vibes. In light of that, the Moca Network team put out a communique re-clarifying their dedication to “transparency and responsible token management” and insisting, quite rightly, that the whole setup isn’t in breach of any regulatory laws.
MOCA On-Chain Activity Raises Questions
Speculation arose when a popular on-chain analyst, @ai_9684xtpa, expressed on X (formerly Twitter) that the recent flows of MOCA tokens involving the digital asset manager Galaxy Digital seemed unusual. In the past two weeks, the Mocaverse multisig wallet, which is responsible for liquidity distribution, has sent more than 74 million MOCA tokens (worth about $5.92 million) to Galaxy Digital. Several of these transactions have been for incredible sums. For instance, just hours before the aforementioned tweet was posted, the Mocaverse sent 40 million MOCA (to the tune of about $3.6 million) to the Bybit exchange.
The crypto community rapidly focused on these turn of events, with many asking what the intent behind the transfers was and whether the tokens were being readied for sale on the open market. In the current atmosphere of skepticism surrounding token management—especially in light of past controversies involving market makers—had concerns over sell pressure and potential market manipulation begun to spread across social media?
Official Clarification from the Moca Network Team
In response to all the rumors, the Moca Network team decided to set the record straight. They made a formal announcement on X, to say the least. Coming from an actual project team, it has some level of weight to it. According to the statement, the team made it perfectly clear that they are not doing any kind of token sale. They further assured us that all tokens allocated to them are under lock and key.
The Moca Foundation clarified that it had only changed a small amount of MOCA—just 50,000 USDC—in April. That change was specifically to get some cash into the foundation’s bank account to pay for operational expenses. This was emphasized as a completely isolated transaction that was not part of any larger plan to offload tokens and that it was accounted for as it should have been.
Regarding the token transfer that involved Galaxy Digital, the team explained that this was not a sale of tokens. Rather, the transfer originated from a separate market-making entity, which makes buy and sell orders in financial markets on its own behalf or for others, and was en route to Galaxy Digital as part of its internal treasury management operations. The team wanted to be very clear that neither the market maker nor Galaxy Digital was in any way selling tokens for the project.
The statement also emphasized Galaxy Digital’s strategic placement in Moca Network’s larger vision. As the network expands, especially in the United States, it has a close partner in Galaxy, which is helping Mocaverse to expand. Part of Mocaverse’s future involves more U.S. users, and Galaxy is helping to make this happen by (1) providing liquidity, (2) building out market infrastructure, (3) facilitating access to users in Mocaverse’s key demographic.
Strengthening the Narrative Around Transparency
Moca Network’s swift reaction to speculation—and its readiness to furnish transaction-level clarifications—shows that this still-new project comprehends an increasingly coveted supply: the transparency in its operation. It acts as a counterbalance to the regulatory scrutiny laced across the crypto-space; it reassures investors that the project isn’t a virtual gold mine for something like an exit scam.
When a major token transfer happens and a high-profile entity like Galaxy Digital receives a substantive amount of tokens, it is only natural for questions to arise. But the Moca Network addressing this in a recent post and providing some clarity allows the community, as well as potential investors, to digest the situation with much more reassurance. Instead of indicating that the token economy is in a precarious position, the team’s communication suggests that the Moca Network is on solid footing.
Some investors may actually find it reassuring that Galaxy Digital is involved, given how regulated and well-established a player in the crypto finance space it is. That it is even a player in the space—”Far from being a red flag,” as one might say, “Galaxy’s involvement may in fact offer some reassurance and even a semblance of institutional credibility backing the Mocaverse project.
The narrative unfolding seems to suggest that, for the foreseeable future, MOCA will still be the focus of its attention, with the crypto community keeping a close eye on its on-chain activities. Nevertheless, if we may be allowed a moment of presumption, it seems that the Moca Network’s personnel—along with their investors—now have an even clearer pathway toward the dual objectives of solid product expansion and meaningful market-building in major global jurisdictions.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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