Upbit’s MOCA Listing Sparks 7,500% Trading Volume Explosion

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As a seasoned researcher with years of experience tracking cryptocurrency markets and their intricacies, I must say that the recent events surrounding MOCA Network (MOCA) have been nothing short of fascinating. The impact of exchange listings on lesser-known tokens like MOCA can be staggering, as demonstrated by its dramatic price surge following Upbit’s announcement.

Notable coin listings on major exchanges frequently spark significant price increases in less recognized cryptocurrencies, particularly during periods of market growth (bull market).

The announcement by the major South Korean cryptocurrency exchange, Upbit, to add MOCA Network (MOCA) to their listings, has significantly influenced its market activity.

Whale Moves Millions in MOCA

Following the announcement of MOCA’s listing on Upbit, a significant increase in its price occurred, causing two wallets believed to be associated with the same large-scale investor (or whale) to transfer approximately 9.5 million MOCA tokens valued at around $3.55 million to Bybit.

As a crypto investor, if these tokens are fully cashed out at their current prices, it’s estimated that I could pocket a substantial earnings of $2.55 million. This underscores the immense market influence and profit opportunities associated with strategic token maneuvers after major exchange listings, as suggested by data gathered by Lookonchain.

In just the last day, there’s been a massive 160% jump in MOCA’s value, peaking at $0.426 before leveling off around $0.22. This dramatic price rise was coupled with an astounding 7500% boost in trading activity, currently sitting at a staggering $1.32 billion. Additionally, the market capitalization has skyrocketed by more than 205%, reaching $341.61 million.

According to the latest announcement, Upbit has introduced trading pairs for Korean Won, Bitcoin (BTC), and USDT with MOCA. For those not familiar, MOCA is the functional and administrative token from Mocaverse, a decentralized universe developed by Animoca Brands Group, a leading Hong Kong-based Web3 company.

$10M Funding Round For Mocaverse

Animoca Brands has revealed plans for a $10 million investment in Mocaverse, led by prominent backers such as OKX Ventures, CMCC Global, and HongShan. This funding will be used to broaden the interconnected framework of Mocaverse that encourages wider crypto usage among consumers.

With MOCA’s fully diluted valuation at $1 billion, Animoca said that it 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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2024-12-17 07:40