Cryptocurrency Exchange Upbit Lists Moodeng on Solana Blockchain

Cryptocurrency Exchange Upbit Lists Moodeng on Solana Blockchain

In a significant move for the Solana meme coin market, Upbit, a leading South Korean cryptocurrency exchange, has listed MOODENG for trading in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). The announcement, effective from July 3, has triggered a remarkable response from the market.

Upon the announcement, MOODENG’s price jumped sharply by over 39%, rising from about $0.166 to $0.231 within minutes. This surge continued, with the coin experiencing a 53.51% increase over the past 24 hours, making it one of the top daily gainers on CoinGecko. The price surge corresponded with a substantial increase in MOODENG’s market capitalization, which climbed from around $165 million to above $200 million following the Upbit listing.

The listing also sparked a massive increase in trading volume, exceeding 600%, with volumes reaching as high as $358 million. This surge in trading activity reflects heightened investor interest and activity in the meme coin. MOODENG is available for trading against the aforementioned currencies on Upbit, with deposits and withdrawals strictly supported only through the Solana network. Users are advised to confirm network details to avoid transaction issues.

John Kojo Kumi, a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem, has been providing in-depth coverage of this development. Kojo Kumi, who holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, has been tracking the industry trends and reporting on the impact of MOODENG's listing on Upbit.

The strong performance of MOODENG has contributed to a broader rally among Solana-based meme coins, which collectively rose over 9%. This surge is attributed to exchange listings and growing retail enthusiasm within the Solana meme coin market. The development positions MOODENG as a prominent player in the meme coin market, especially within South Korea’s crypto trading ecosystem.

Meanwhile, in other news, U.S. Senator Cynthia Lummis has proposed a digital asset tax reform bill, and Hong Kong's new stablecoin ordinance is set to take effect in August. Elsewhere, Elon Musk is reportedly considering the formation of a new political party, and the U.S. House has approved Trump's tax and spending bill.

This article is for informational purposes only and should not be taken as financial advice. Readers are advised to do their own research before making any investment decisions.

[1] CoinGecko: https://www.coingecko.com/en/coins/moodeng [2] Upbit: https://www.upbit.com/ [3] Solana: https://solana.com/ [4] Solana Network: https://solana.com/get-solana [5] CoinGecko: https://www.coingecko.com/en/market_chart/solana/usd/moodeng/usdt

1. The significant listing of MOODENG on Upbit has resulted in a surge in its price, market capitalization, and trading volume, making it one of the top daily gainers on CoinGecko, as well as contributing to a broader rally among Solana-based meme coins.
2. John Kojo Kumi, a cryptocurrency researcher specializing in tokenomics and market dynamics within the blockchain ecosystem, has been providing in-depth coverage of the MOODENG listing on Upbit, reporting on its impact on the meme coin market, especially within South Korea’s crypto trading ecosystem.
3. The strong interest and activity in MOODENG fueled by this listing exemplify the role that exchange listings and retail enthusiasm play in the current meme coin market, using the Solana network for deposits and withdrawals. Meanwhile, other significant news in the finance and technology sector includes U.S. Senator Cynthia Lummis' digital asset tax reform bill and Hong Kong's new stablecoin ordinance.

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