BlockBeats News, October 9th, the Web3 gaming ecosystem project Moonveil ($MORE) saw a strong rebound in price after experiencing a severe fluctuation due to the delisting of the Gate perpetual contract. The market cap has risen from a low point of $22 million on October 7th to approximately $55 million currently, with a surge of over 132% in the past 48 hours.
According to an official announcement from Moonveil, Gate suddenly announced the delisting of 15 perpetual contracts, including $MORE, on October 6th, without prior communication with the project team. They only provided a forced liquidation window of less than 24 hours, leading to the centralized liquidation of about $2-3 million in open interest contracts and causing temporary market panic. The Moonveil team later released a statement emphasizing that the foundation, investors, and core community (including the UnicornX community) did not sell tokens, and some are still actively buying.
Moonveil founder MJ stated in a tweet: “The market can change in an instant, but trust between people is real and lasting. We will not retreat.”
On October 9th, Moonveil’s long-term strategic investor UnicornVerse publicly expressed strong support for the Moonveil team and the $MORE community, calling for the industry’s platforms to increase transparency and communication mechanisms.
The Moonveil ecosystem has currently launched multiple gaming products, including Starry Sort, Bushwhack, and Puffy Match, and plans to continue supporting market and ecosystem value with a game-profit-driven buyback mechanism.
