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Moca Coin ($MOCA) Soars 350% on Upbit Listing

A smart whale capitalized on the MOCA listing announcement, witnessing significant gains on the upsurge.

Avatar image of Lucky Ebosele Lucky Ebosele•December 16, 2024
Solana

Moca Coin (MOCA) has witnessed a remarkable surge after Upbit announced it would open trading for the token on Monday.

MOCA is the native token of the Moca Network, a decentralized ecosystem tied to the Mocaverse, a metaverse owned by Animoca Brands. It serves as a utility and governance token, enabling transactions, cross-chain transfers, and user participation within the network’s ecosystem, which spans music, gaming, sports, and education.

Upbit’s Announces Listing for MOCA

In a Tweet on Monday, the South Korean crypto exchange said it would list MOCA at 14:00 KST on December 16, and open trading pairs for Korean won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs. It warned that deposits and withdrawals of MOCA will be available through the Ethereum blockchain.

Upbit also noted that, in compliance with the Travel Rule, deposits must be made from exchanges listed as eligible crypto asset operators by Upbit itself.

$MOCA Jumps 350% on Upbit Listing

Following this announcement, $MOCA sharply rose to 350% to exchange hands at $0.3886.

On-chain analyst Lookonchain shared an interesting development following this activity. It revealed that after Upbit announced listing for MOCA, a whale or large investor quickly deposited 9.5 million MOCA, worth $3.55 million, to crypto exchange Bybit.

Lookonchain stated that if this whale were to offload their MOCA holdings amid the 350% price surge, it could profit up to $2.55 million.

Meanwhile, MOCA was experiencing some retracement when filing this report. Data from CoinGecko shows that the token traded at $0.2324 at press time, representing a 168.8% surge on the day.

The sharp price shows the impact a listing from a top exchange like Upbit can have on a crypto asset. Moreover, the listing is expected to bring more visibility and accessibility to MOCA.

Lucky Ebosele

Lucky Ebosele is an avid writer covering cryptocurrencies and blockchain tech since 2021. He is constantly researching the latest trends and developments in the space. Away from crypto, he loves everything football.