The Moca Network (MOCA) token has experienced a 370% increase in value today due to its significant listing on major crypto exchanges.
Today, the price of Moca Network (MOCA), the native utility and governance token of the Mocaverse ecosystem, has increased by 370%. This occurred after South Korean crypto exchanges announced that the token would be included in the Korean Won (KRW) pair. The MOCA Foundation asserted that X represents a significant milestone for MOCA. Will the sudden increase in the token’s value persist?
Moca Network is listed on South Korean exchanges
The MOCA token has been listed on Upbit and Bithumb, the top crypto exchanges in South Korea, and they have also disclosed their support for Mocaverse. This has incited a significant sentiment among investors, resulting in a sudden 370% increase in the price of Moca Network.
According to Upbit’s announcement, users can trade the token in spot pairs of USDT, BTC, and KRW. Trading will commence at 14:00 KST on December 16. Deposits and withdrawals of MOCA tokens through networks other than Ethereum are not permitted.
“Deposits and withdrawals are only possible with personal wallet addresses that have completed ‘ownership verification’, and even if the deposit is made through a linked personal wallet, a deposit return may need to be processed depending on the network of the asset.”
Additionally, Bithumb has disclosed the listing of Moca Network. The digital asset exchange has listed MOCA on the Ethereum network in the KRW pair.
As the official listing announcement indicates, trading will commence at 2:00 PM on December 16. The initial price will be 136 won. The MOODENG has also been listed in the KRW pair on the exchange.
In the South Korean market, the token’s name has been altered to Mocabus by both top crypto exchanges.
Yat Siu, the co-founder of Animoca Brands, responds
Yat Siu, the co-founder of Animoca Brands, responded to the South Korean exchange’s endorsement of its Mocaverse and MOCA tokens. He expressed his gratitude to Upbit for welcoming Korea to the Moca Network, which will facilitate the widespread adoption of web3. In a recent exclusive interview with CoinGape, Yat Siu discussed Mocaverse.
According to the MOCA Foundation, the listing is a significant milestone in the team’s ongoing efforts to expand the Moca ecosystem into the South Korean market. Additionally, Mocaverse emphasized that South Korea is a critical market for enlisting more than 28 million retail consumers.
MOCA Token Experiences a 370% Increase
The South Korean exchange announced the listing, which resulted in a 370% increase in the price of MOCA. Moca Network’s price is currently trading at $0.40, with a 24-hour low of $0.08 and a high of $0.41. Additionally, the trading volume has increased by over 600% in the past 24 hours, suggesting significant interest among traders.
The total open interest in MOCA futures increased by nearly 1000% within four hours and 1250% within twenty-four hours. The current value of the 134.26 million futures OI is $33.27 million, which suggests potential for an additional upward movement.
Lookonchain disclosed that Bybit has received 9.5 million MOCA tokens, valued at $3.55 million, from two wallets. The whale is likely responsible for controlling the wallets to generate $2.55 million in profit if they are sold in their entirety.
