• MOCA token price surged 23% to $0.3076 despite a broader market downturn.

  • Animoca’s Yat Siu announced a holiday reward program for MOCA holders.

  • MOCA gained 285.8% this month, contrasting to Bitcoin’s 9.4% weekly price drop.

MOCA, the coin associated with the MOCA Foundation, saw a notable price surge of over 23%, reaching $0.3076 amid a broader cryptocurrency market downturn. The upward movement follows Animoca Brands founder Yat Siu’s announcement of a special holiday reward program for MOCA token holders.

The token has shown decent strength across multiple timeframes, posting gains of 38.1% over the past week. The monthly performance shows a 285.8% increase. Yat Siu’s announcement detailed a two-stage reward distribution plan for MOCA token holders.

As part of the Holiday Celebrations I will be giving away the rewards of the initial claim $MOCA tokens from the below in 2 stages. Technically the conditions were not met (2000 RTs) but we have a lot to celebrate since the @MOCAFoundation @Moca_Network launch. Thank you fam! https://t.co/9Nz1kkiNCm

— Yat Siu (@ysiu) December 23, 2024

The first stage will focus on rewarding early post-engagers and existing MOCA community members despite the original engagement target of 2,000 retweets not being met. For the second stage, Siu has opened the floor to community suggestions regarding potential activation strategies. Trading data shows MOCA maintaining strong momentum within a 24-hour range of $0.2589 to $0.3194, while the seven-day range extends from $0.1249 to $0.3267. At press time, MOCA was trading at $0.3046.

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The timing of this surge is noteworthy as it occurs against a backdrop of declining prices among major cryptocurrencies. Bitcoin and Ethereum have seen their prices slump over 9.4% and 15.5% in the last seven days, respectively. In the last 24 hours, BTC was down by 1.4%, while ETH lost 1.6% of its value. The bearish outlook is also seen across other top coins like XRP and Solana, which also saw their prices drop from single to double digits in the last seven days.

The MOCA Foundation and MOCA Network, which Siu specifically mentioned in his announcement, have seen increased activity since their launch. The holiday reward program appears to be part of a strategy to recognize and strengthen community engagement during the project’s early development phases.

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