MOCA Token Surges by 380% After Major South Korean Exchange Listings
Moca Network’s token MOCA has achieved great success after being listed on Upbit and Bithumb, South Korea’s leading cryptocurrency exchanges. Price increased by 380%reaching an ATH of $0.426. The move is a big step for the Moca Foundation and highlights South Korea’s role in driving web3 growth.
MOCA listing triggers price surge
Upbit was the first to announce the listing of MOCA, allowing trading pairs for Korean Won, Bitcoin (BTC) and Tether (USDT). Trading officially started at 2:00 pm KST on December 16, and the exchange confirmed that MOCA’s deposits and withdrawals only support the Ethereum network.
MOCA is the core of the Mocaverse ecosystem and a decentralized metaverse project. It provides access to different functions in the network and gives holders a say in its governance.
Upbit’s listing is expected to give MOCA a major boost as it strengthens its presence in the cryptocurrency market.
Bithumb join the action
Shortly after Upbit, Bithumb also launched MOCAallowing Korean Won transactions on the Ethereum network. Trading began at the same time, with the initial price of the token set at 136 won. Bithumb has even added another coin, MOODENG, to its list.
Both exchanges renamed the token “Mocabus” to better suit the Korean market and make it easier for local investors to associate with the brand.
MOCA prices skyrocketed 380%
The dual listing caused MOCA’s price to surge by 380% in just one hour, and trading volume soared by more than 600% in 24 hours. Futures trading also surged, with open interest soaring 1,250% in one day to $33.27 million.
Yat Siu, co-founder of Animoca Brands, expressed his excitement and thanked Upbit and South Korea for welcoming Moca Network. He believes that South Korea’s tech-savvy community and strong crypto ecosystem will play an important role in bringing web3 to the masses.
As of now, MOCA’s stock price is US$0.24, up 190%, with a market value of US$383 million. The coin’s impressive rise demonstrates its growing popularity and potential in the cryptocurrency space
