A big crypto whale has invested massively in Moca Network (MOCA), acquiring huge amounts of Moca coins. The massive acquisition occurred after Upbit announced MOCA’s listing.
According to Lookonchain, two wallets (possibly owned by the whale) deposited 9.5 million MOCA tokens ($3.55 million) to Bybit after UPbit announced the token listing. The whale’s acquisition catapulted him to become one of the most significant individual holders of the Moca coin, with an unrealized profit of $2.55 million.
UPbit improves MOCA’s trading ability
The trader’s investment in the Moca coin was possibly influenced by Upbit’s move to list the crypto. Historically, token listing triggers price increases of newly listed assets. The whale timed its purchase well, allowing him to take advantage of the asset price jump. Following Upbit’s announcement, MOCA witnessed a remarkable surge of trading activity and its value skyrocketed immensely, enabling the investor to make an unrealized profit of $2.55 million.
The unrealized gains show what strategic investment can do in the digital asset market. The trader leveraged the market momentum to his advantage by purchasing the MOCA tokens in bulk. While MOCA’s price fluctuates swiftly amid extreme volatility associated with crypto, the trader expects the coin to see price appreciation after the listing.
So far, there have not been reports about big investors trading and profiting from MOCA. However, today’s trading activity by the whale brought massive limelight to the Moca coin and its potentiality.
MOCA price trajectory
Today, Moca Network has surged 350% following its listing on Upbit, according to Lookonchain. Upbit, a South Korean cryptocurrency exchange, announced the listing of the Moca coin on the Spot market. The development provided users with a chance to buy and leverage the token. The listing fueled big sentiment among crypto enthusiasts, causing the asset to skyrocket abruptly by 350%.
At the time of writing, MOCA is currently trading at $0.2164, up 145.8% in the last 24 hours, with a market cap of $367.8 million. With a price rise of 139.70% in the last seven days, MOCA is outperforming the global digital asset market which is up 7.80% currently.
The Moca coin is a cryptocurrency powered by metaverse and Web3 gaming company, Animoca Brands.
The Moca Network, an ecosystem that connects various partner projects and their users, focuses on fields like education, gaming, sports, music, and governance. The Moca coin, developed on top of the LayerZero v2 protocol, serves as a governance and utility token within the ecosystem.
Users in Animico’s network of Web3 dApps use the token as a means of transactions. They also use the token to vote on governance agendas within the ecosystem.
