Upbit’s MOCA listing causes trade volume to explode by 7,500%.

Prominent stock listings often cause massive price increases for lesser-known tokens, especially during a bull market.

South Korean cryptocurrency exchange giant Upbit’s announcement to list MOCA Network (MOCA), for example, has had a dramatic effect on its market performance.

The whale moves millions at MOCA

After Upbit announced the MOCA listing, its price surge led to two wallets, likely linked to the same whale, depositing 9.5 million MOCA tokens worth $3.55 million to Bybit.

If these tokens are fully sold at current price levels, the whale will make an impressive $2.55 million in profits, highlighting the significant market impact and profit potential tied to strategic token moves following major listings. ‘exchange, according to data collected by Lookonchain.

In the past 24 hours alone, MOCA has experienced a 160% increase, briefly reaching $0.426 before stabilizing near $0.22. This surge in prices was accompanied by a staggering 7,500% increase in trading volume, which now stands at $1.32 billion, and a market capitalization increase of over 205% to $341.61 million. dollars

According to the official update, Upbit launched Korean Won, Bitcoin (BTC) and USDT trading pairs for MOCA. For the uninitiated, MOCA is the token of utility and governance of a decentralized ecosystem called Mocaverse, which is a flagship project of Hong Kong-based Web3 giant Animoca Brands Group.

$10 million funding round for Mocaverse

Beyond its market performance, Animoca Brands recently announced a $10 million funding round for Mocaverse. The funding, backed by major investors including OKX Ventures, CMCC Global and HongShan, aims to expand Mocaverse’s interoperable infrastructure for consumer crypto adoption.

With MOCA’s fully diluted valuation at $1 billion, Animoca said it is strategically building out the Realm network to advance Web3 interoperability and digital property rights. Mocaverse’s rapid growth is evident in initiatives such as Moca ID, which has already registered more than 1.79 million IDs and fostered partnerships with prominent platforms such as Pixels, Trust Wallet, and OKX Wallet. Future collaborations with high-profile partners such as the TON Foundation and the Anime Foundation aim to bring millions of users onto the Moca network.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato Readers on Bybit – Use this link to register and open a FREE $500 position with any currency!