MOCA Network’s native token, MOCA, saw an unprecedented 150% price surge following its listing on South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb.
The token’s rapid rise underscores the importance of South Korea in shaping the future of web3 technologies and highlights MOCA’s growing significance in the decentralized metaverse space.
This development marks a significant milestone for the Moca Foundation and positions the token as a key player in the global crypto market.
MOCA trading debuts on Upbit with multiple pairs
Upbit, South Korea’s largest crypto exchange, was the first to list MOCA, enabling trading in Korean won (KRW), Bitcoin (BTC), and Tether (USDT).
Trading commenced on December 16 at 2:00 PM KST, with deposits and withdrawals exclusively supported on the Ethereum blockchain.
The listing provides MOCA with exposure to one of the most active crypto markets globally, where local investors show strong interest in blockchain innovation.
MOCA serves as the utility and governance token for the Mocaverse, a decentralized metaverse platform.
Token holders gain access to platform features and participate in decision-making processes, showcasing the project’s commitment to decentralized governance.
The listing on Upbit is expected to significantly enhance MOCA’s liquidity and market reach, attracting both institutional and retail investors.
Bithumb follows with MOCA and MOODENG listings
Following Upbit’s lead, Bithumb added MOCA to its platform on the same day, offering trading in KRW.
The token debuted with an initial price of 136 KRW, further solidifying its foothold in South Korea’s competitive crypto landscape.
Bithumb introduced MOODENG, another token associated with the Mocaverse ecosystem, indicating a broader partnership with the Moca Foundation.
Both exchanges rebranded MOCA as “Mocabus” to align with local preferences, a strategic move aimed at increasing relatability among South Korean investors.
This rebranding highlights the growing trend of customizing blockchain projects to meet the demands of regional markets.
MOCA’s 380% surge in one hour
The dual listings triggered an explosive rally for MOCA, with its price surging 380% within just one hour.
The token’s trading volume also spiked by over 600% within 24 hours, reflecting heightened market interest.
In the futures market, MOCA recorded a staggering 1,250% increase in open interest, reaching $33.27 million in a single day.
As of December 16, MOCA’s price stands at $0.213, representing a 150% increase from its pre-listing value.
The token’s market capitalization has climbed to $332 million, reinforcing its growing prominence in the blockchain ecosystem.
South Korea continues to cement its position as a leader in blockchain innovation. The country’s tech-savvy population and robust crypto ecosystem make it a prime market for emerging web3 projects.
MOCA’s success on Upbit and Bithumb demonstrates how strategic listings in such markets can propel blockchain initiatives to new heights.
While the Moca Foundation celebrates this milestone, the broader crypto community is closely watching South Korea’s influence in advancing web3 technologies.
This latest development further underscores the importance of regional markets in shaping the global trajectory of decentralised platforms.
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