South Korea’s leading cryptocurrency exchange, Upbit, has officially announced the listing of MOCA, the native token of the metaverse project, Mocaverse, with trading set to commence on December 16, 2024, at 2:00 PM Koeran time.
MOCA will be available for trading in three pairs: Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
As per Upbit’s standard procedures, several restrictions will apply to ensure smooth trading. During the initial five minutes, buy limits will be enforced, and sell orders cannot be placed below 10% of the previous day’s closing price. Additionally, market and reservation orders will remain disabled for the first hour of trading.
Deposits and withdrawals for MOCA are expected to begin within two hours of the official notice, with the exchange emphasizing the importance of using the correct Ethereum network. Deposits made via unsupported networks could lead to irreversible errors or refund delays. Upbit also clarified that only personal wallet addresses with verified ownership would be eligible for deposits and withdrawals, cautioning users about potential rejections or returns based on network compatibility.
The project, previously known as MOCA Network, aims to enhance cultural interoperability within the Web3 ecosystem through tokenized systems and points-based mechanisms.
The announcement has sparked a surge in MOCA’s market performance. The token’s price jumped 330.26% to $0.3772, with its market cap soaring 332.96% to $485.47 million. MOCA’s 24-hour trading volume also skyrocketed, climbing 319.57% to $77.84 million, according to CoinMarketCap.
The announcement comes as Animoca Brands, a Hong Kong-based web3 company and the driving force behind Mocaverse, recently secured an additional $10 million to advance the project. This funding is part of a broader $41.8 million capital raise backed by notable investors, including OKX Ventures, CMCC Global, HongShan, Republic Crypto, and Kingsway Capital.
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