Moca Coin (MOCA) Price Jumps 370% After Upbit and Bithumb Listings

Highlights

Moca Network (MOCA) price has skyrocketed 370% after listing in South Korea.
Upbit and Bithumb announced listing of MOCA token in KRW pair.
MOCA Foundation said the listing signifies a milestone as it expands Moca ecosystem in South Korea.
Yat Siu, co-founder of Animoca Brands, thanked exchanges for listing the token.

Moca coin of the Mocaverse ecosystem saw its price skyrocket by 370% today. The massive upside move came as traders immediately responded to the listing in Korean Won (KRW) pair by South Korean crypto exchanges Upbit and Bithumb.

MOCA Foundation took to X and claimed it signifies an important milestone for MOCA as the project eyes massive adoption in the country. The massive spike faded after whales and long-term holders dumped the token.

South Korean Exchanges List Animoca’s MOCA Coin Today

Upbit and Bithumb, the top crypto exchanges in South Korea, have revealed support for Mocaverse and listed the Moca Network token. This has triggered a massive sentiment among investors causing MOCA coin price to spike suddenly by 370%.

According to Upbit’s announcement, users can trade the token in KRW, BTC and USDT spot pairs. The trading will start at 14:00 KST on December 16. MOCA token deposits and withdrawals through networks other than Ethereum are not supported.

“Deposits and withdrawals are only possible with personal wallet addresses that have completed ‘ownership verification’, and even if the deposit is made through a linked personal wallet, a deposit return may need to be processed depending on the network of the asset.”

Moreover, Bithumb has also announced the listing of Moca Network. The digital asset exchange has listed MOCA in KRW pair on the Ethereum network.

As per the official listing announcement, the trading will commence on December 16 at 2:00 PM. The base price will be 136 won. The exchange has also listed MOODENG in KRW pair.

Both top crypto exchanges have changed the name of the token to Mocabus in consistent with the South Korean market.

Animoca Brands Co-founder Yat Siu Reacts

Yat Siu, co-founder of Animoca Brands, commented on the support of South Korean exchange to its and MOCA coin. He said “Thank you Upbit and welcoming Korea to the Moca Network bringing mass adoption to web3.” Yat Siu spoke about Mocaverse in an exclusive interview with CoinGape recently.

MOCA Foundation said the listing signifies a milestone as the team continues to support the expansion of Moca ecosystem to the South Korean market. Furthermore, Mocaverse added that South Korea is a key market, with its mission to onboard over 28 million retail consumers.

MOCA Coin Price Records Pump and Dump

MOCA coin price jumped 370% after South Korean exchanges announced the listing. Currently, Moca Network token is trading at $0.23, with a 24-hour low and high of $0.08 and $0.41, respectively. Furthermore, the trading volume has shot up by more than 4500% in the last 24 hours, indicating a massive interest among traders.

Total MOCA futures open interest climbed almost 1000% in 4 hours and 1250% in 24 hours, as per Coinglass data. The 134.26 million futures OI are now valued at $33.27 million.

However, Lookonchain revealed that two wallets have deposited 9.5 million MOCA tokens valued at $3.55 million to Bybit. The wallets are likely controlled by the same whale, to make $2.55 million in profit if sold completely. Whales and traders took “buy the rumor, sell the news” strategy to dump their holdings on the news, causing MOCA coin price to pare gains.

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Varinder Singh

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