Moca Network’s native token, MOCA, has seen a huge price increase after being listed on South Korean cryptocurrency exchanges. Following the listing announcements on Upbit and Bithumb exchanges, the token’s value increased by 370% in a day. The MOCA Foundation described this development as a significant advancement for the token.
Upbit and Bithumb Share Details of MOCA Listing
Upbit, one of the largest crypto exchanges in South Korea, has traded the MOCA token for Korean Won (KRW), Bitcoin (BTC)
and Tether (USDT) pairs. Trading began on December 16 at 14:00 KST. However, deposits and withdrawals outside the Ethereum network are not supported. The exchange announced that deposits can only be made from wallet addresses that have completed "ownership verification."
Bithumb also listed the MOCA token on the Ethereum network in the KRW pair. According to Bithumb’s announcement, the base price of the token was set at 136 won. Trading began at the same time as Upbit. The announcements of both exchanges have generated great interest among investors.
MOCA Token Gains 370%, Trading Volume Explodes
Following the listing announcement by South Korean exchanges, the MOCA token gained 370% in value in just one day. The trading price of MOCA rose from $0.08 to $0.41, while its trading volume increased by over 600%, indicating intense trading activity.
According to the data shared by Lookonchain, two major wallets deposited a total of 9.5 million MOCA to the Bybit platform. The total value of these tokens was calculated as $3.55 million. According to the analysis, these transactions are thought to be carried out by a single whale. If these tokens are completely sold, the whale can make a profit of $2.55 million.
This listing not only increased Moca Network’s global exposure but also contributed to the expansion of the ecosystem. Yat Siu, Co-Founder of Animoca Brands, said in a statement regarding this development, “We would like to thank Upbit. It is exciting to welcome Moca Network to South Korea.”
MOCA’s future price performance continues to be something investors are watching closely.