Significant exchange listings often lead to substantial price surges for lesser-known tokens, especially during a bull market. South Korean crypto exchange Upbit’s announcement to list MOCA Network (MOCA) has had a substantial impact on its market performance. Following the announcement, two wallets, likely linked to the same whale, deposited 9.5 million MOCA tokens worth $3.55 million to Bybit.
If these tokens are fully sold at the current price levels, the whale stands to make a substantial profit of $2.55 million. This highlights the considerable market impact and profit potential tied to strategic token movements following major exchange listings. Over the past 24 hours alone, MOCA has experienced a remarkable 160% rally, reaching $0.426 before stabilizing near $0.22.
This price surge was accompanied by an impressive 7,500% increase in trading volume, which now stands at $1.32 billion, and a market capitalization spike of over 205% to $341.61 million. Animoca Brands recently announced a $10 million funding round for Mocaverse. The funding, supported by major investors like OKX Ventures, CMCC Global, and HongShan, is aimed at expanding Mocaverse’s interoperable infrastructure for consumer crypto adoption.
With MOCA’s fully diluted valuation at $1 billion, Animoca Brands is strategically building the Realm Network to advance Web3 interoperability and digital property rights. Mocaverse’s rapid growth is evident in initiatives like the Moca ID, which has already registered over 1.79 million IDs and fostered partnerships with prominent platforms such as Pixels, Trust Wallet, and OKX Wallet.
Future collaborations with high-profile partners like the TON Foundation and Anime Foundation aim to onboard millions of users to the Moca Network.
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