Major exchange listings often act as catalysts for explosive market activity, particularly for lesser-known tokens during a bullish cycle. South Korea’s leading cryptocurrency exchange, Upbit, recently demonstrated this effect with its listing of MOCA Network (MOCA), sparking a massive uptick in trading volume, price, and market capitalization.
Whale Activity Drives MOCA Surge
Following Upbit’s announcement, MOCA saw a sharp price rally that coincided with significant whale movements. According to on-chain analytics platform Lookonchain, two wallets—likely controlled by the same entity—deposited 9.5 million MOCA tokens (valued at $3.55 million) to Bybit. If these tokens were liquidated at current market prices, the whale would secure a staggering $2.55 million in profit, underscoring the immense financial opportunities tied to strategic trades after major exchange listings.
In the past 24 hours, MOCA surged by 160%, briefly touching $0.426 before settling near $0.22. The listing also triggered an unprecedented 7,500% increase in trading volume, now reaching $1.32 billion, while its market capitalization climbed over 205% to hit $341.61 million.
Upbit’s Listing Announcement
Upbit introduced Korean Won (KRW), Bitcoin (BTC), and USDT trading pairs for MOCA. For context, MOCA serves as the utility and governance token for Mocaverse, a decentralized platform developed by Animoca Brands, a Hong Kong-based leader in the Web3 space.
$10 Million Funding Boost for Mocaverse
Beyond the surge in MOCA’s market activity, Animoca Brands recently announced a successful $10 million funding round for Mocaverse. Prominent investors like OKX Ventures, CMCC Global, and HongShan participated in the round, which will fuel the expansion of Mocaverse’s interoperable infrastructure to accelerate crypto adoption.
With MOCA’s fully diluted valuation standing at $1 billion, Animoca Brands has ambitious plans for the Realm Network, aiming to advance Web3 interoperability and strengthen digital property rights.
Mocaverse’s Rapid Growth and Key Partnerships
Mocaverse has already achieved significant milestones, including registering 1.79 million Moca IDs, which serve as on-chain identities for users. The platform has secured partnerships with major players such as Pixels, Trust Wallet, and OKX Wallet. Looking ahead, Mocaverse plans to collaborate with high-profile names like the TON Foundation and Anime Foundation, with the goal of onboarding millions of new users to its ecosystem.
Conclusion
Upbit’s listing of MOCA has demonstrated the profound impact a major exchange can have on a token’s performance, driving trading volumes, price increases, and significant market moves. Coupled with Animoca Brands’ strategic growth initiatives and funding support, Mocaverse is well-positioned to accelerate its Web3 adoption goals and solidify its place as a leader in the digital asset space.
