Moca Network (MOCA) Price Rockets 370% Today, Here’s Why

Moca Network (MOCA), Mocaverse ecosystem native utility and governance token, price has skyrocketed 370% today. This follows after South Korean crypto exchanges announced the listing of the token in Korean Won (KRW) pair. MOCA Foundation took to X and claimed it signifies an important milestone for MOCA. Will the sudden spike in the token sustain?

South Korean Exchanges Lists Moca Network

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

MOCA price jumped 370% after the South Korean exchange announced the listing. Currently, Moca Network price is trading at $0.40, with a 24-hour low and high of $0.08 and $0.41, respectively. Furthermore, the trading volume has shot up by more than 600% 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. The 134.26 million futures OI are now valued at $33.27 million, signaling support for a further upside move.

Notably, 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.

The post Moca Network (MOCA) Price Rockets 370% Today, Here’s Why appeared first on CoinGape.

Crypto Feed:
https://ift.tt/lUafobH
Varinder Singh
CoinGape