The post MOCA Token Surges by 380% After Major South Korean Exchange Listings appeared first on Coinpedia Fintech News
After being listed on South Korea’s leading crypto exchanges, Upbit and Bithumb, Moca Network’s token, MOCA, has seen a massive 380% price jump, hitting an ATH of $0.426. This move is a big step for the Moca Foundation and highlights South Korea’s role in driving web3 growth.
MOCA Listing Sparks Price Surge
Upbit was the first to announce MOCA’s listing, allowing trading pairs in KRW, Bitcoin (BTC), and Tether (USDT). Trading officially started on December 16 at 2:00 PM KST, and the exchange confirmed that deposits and withdrawals for MOCA would only be supported on the Ethereum network.
MOCA is the heart of the Mocaverse ecosystem, a decentralized metaverse project. It provides access to different features in the network and lets holders have a say in its governance.
The listing on Upbit is expected to give MOCA a major boost as it strengthens its presence in the crypto market.
Bithumb Joins the Action
Shortly after Upbit, Bithumb also listed MOCA, allowing trading in KRW on the Ethereum network. Trading started at the same time, with the token’s initial price set at 136 KRW. Bithumb even added another token, MOODENG, to its listings.
Both exchanges renamed the token to “Mocabus” to align better with the South Korean market, making it easier for local investors to connect with the brand.
MOCA Price Skyrocket 380%
The dual listings caused MOCA’s price to explode by 380% within just an hour, with its trading volume shooting up by more than 600% in 24 hours. Futures trading saw a massive spike too, with open interest jumping 1,250% in a day to hit $33.27 million.
Yat Siu, co-founder of Animoca Brands, expressed his excitement, thanking Upbit and South Korea for welcoming the Moca Network. He believes South Korea’s tech-savvy community and strong crypto ecosystem will play a big role in bringing web3 to the masses.
As of now, MOCA is priced at $0.24, up 190%, with a market cap of $383 million. The token’s impressive rise shows its growing popularity and potential in the crypto space