Moca Network’s native token, MOCA, has witnessed a meteoric rise, surging by a staggering 380% after being listed on South Korea’s leading crypto exchanges, Upbit and Bithumb. This significant price jump, culminating in an all-time high (ATH) of $0.426, marks a major milestone for the Moca Foundation and underscores South Korea’s pivotal role in driving the growth of the web3 ecosystem.
Upbit, a prominent player in the South Korean crypto market, spearheaded the MOCA listing, enabling trading pairs in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Trading commenced on December 16th at 2:00 PM KST, with the exchange confirming that deposits and withdrawals for MOCA would be exclusively supported on the Ethereum network.
MOCA serves as the cornerstone of the Mocaverse ecosystem, a decentralized metaverse project. It grants holders access to various features within the network and provides them with a voice in its governance. 1 The listing on Upbit is anticipated to provide a significant boost to MOCA’s market presence and propel its growth.
Following closely behind, Bithumb also listed MOCA, facilitating KRW trading on the Ethereum network. Trading commenced simultaneously, with the token’s initial price set at 136 KRW. Additionally, Bithumb included another token, MOODENG, in its listings.
Both exchanges rebranded the token to “Mocabus” to enhance its appeal and accessibility to South Korean investors.
The dual listings triggered a dramatic surge in MOCA’s price, with a 380% increase within a mere hour. Trading volume skyrocketed by over 600% within 24 hours, and futures trading experienced a remarkable surge, with open interest soaring by 1,250% to reach $33.27 million in a single day.
Yat Siu, co-founder of Animoca Brands, expressed his enthusiasm, extending gratitude to Upbit and South Korea for their warm welcome of the Moca Network. He emphasized his belief that South Korea’s technologically advanced community and robust crypto ecosystem will play a crucial role in bringing web3 to the masses.
Currently, MOCA is trading at $0.24, reflecting a 190% increase, with a market capitalization of $383 million. The token’s impressive ascent underscores its growing popularity and substantial potential within the cryptocurrency space.
December 2024, Cryptoniteuae
