💰 MOCA Token Experiences Significant Price Surge Following Exchange Listings
The Moca Network’s token, MOCA, has garnered significant attention after being listed on two of South Korea’s primary cryptocurrency exchanges, Upbit and Bithumb. This year, the token saw a remarkable increase of 380%, reaching an all-time high (ATH) of $0.426. This milestone underscores the Moca Foundation’s potential and highlights South Korea’s pivotal influence on the expansion of web3 technology.
🔥 Upbit’s Listing Catalyzes MOCA’s Growth
Upbit was the first platform to announce the listing of MOCA, thereby introducing various trading pairs against the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Trading commenced on December 16 at 2:00 PM KST, with the exchange confirming that transactions involving MOCA would solely occur via the Ethereum network.
MOCA serves as the cornerstone of the Mocaverse ecosystem, a decentralized metaverse initiative that offers various functionalities to its network users while providing token holders with governance privileges over the project. The listing on Upbit is anticipated to significantly enhance MOCA’s visibility in the cryptocurrency arena.
🚀 Bithumb Quickly Follows Suit
Shortly after Upbit’s announcement, Bithumb also embraced MOCA by facilitating trading in KRW, utilizing the Ethereum network. The trading on Bithumb commenced simultaneously with Upbit, initializing the token’s price at 136 KRW. In addition to MOCA, Bithumb introduced another token called MOODENG to its offerings.
Both exchange platforms have rebranded the token to “Mocabus” to better resonate with the South Korean audience, making it simpler for local investors to relate to this digital asset.
📈 MOCA’s Price Surges by 380%
The simultaneous listings on Upbit and Bithumb triggered a substantial price increase of 380% within just one hour. This surge coincided with a trading volume explosion that saw an impressive increase of over 600% within a 24-hour timeframe. Futures trading also experienced a remarkable upturn, with open interest rising by 1,250% in a single day, reaching a total of $33.27 million.
Yat Siu, the co-founder of Animoca Brands, expressed enthusiasm over the developments, expressing gratitude to Upbit and South Korea for their warm reception of the Moca Network. He contends that South Korea’s tech-savvy demographic and robust cryptocurrency infrastructure will play a crucial role in popularizing web3 concepts among a broader audience.
Currently, MOCA is priced at $0.24, reflecting a 190% increase, with a market capitalization approaching $383 million. The dramatic ascent of the token suggests a growing interest and potential within the burgeoning cryptocurrency landscape.
✨ Hot Take on MOCA’s Future
The recent surge in the price of MOCA following its listings on major exchanges illustrates the dynamic nature of the cryptocurrency market. The ongoing support from South Korea’s robust trading platforms suggests a bright future for MOCA as it gains traction among investors. As the Moca ecosystem further develops, keeping an eye on its governance and feature enhancements will be essential for understanding its long-term trajectory.
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