MOODENG Price Soars 25% As OKX Announces Spot Trading Support

In a significant development for the cryptocurrency market, OKX has announced the launch of MOODENG (Moo Deng) spot trading, scheduled for November 15th at 8:00 pm (UTC+8). 

The announcement has triggered an immediate and substantial market reaction, with MOODENG’s price experiencing a remarkable 25% surge. 

This positive market response demonstrates the significant impact that major exchange listings can have on cryptocurrency valuations and highlights the growing interest in new digital assets among traders and investors on the OKX platform.

Current Market Performance and Metrics

MOODENG’s market performance has been particularly noteworthy, with the token currently trading at $0.5808 and maintaining a robust 24-hour trading volume of $309,276,975. 

The token has demonstrated impressive growth metrics, recording a 25.64% price increase within the last 24 hours and an even more substantial 105.27% appreciation over the past week. 

With a circulating supply of 990 million MOODENG tokens, the project has achieved a significant market capitalization of $566,545,899, positioning it as a notable player in the cryptocurrency market. 

These figures reflect strong market confidence and growing investor interest in the token.

OKX’s Broader Listing Strategy and Market Impact

OKX’s listing of MOODENG is part of a broader strategy of platform expansion and market development. 

The exchange has simultaneously announced several other significant listings and trading pairs, including the ACT/USDT trading pair, which saw a 28% price increase following the announcement. 

The exchange’s comprehensive approach includes the launch of ACT/USDT margin perpetual contracts on November 14, 2024, and the introduction of leverage trading and Simple Earn features on November 15, 2024. 

Additionally, the announcement of the MAJOR token listing, scheduled for November 21, 2024, has resulted in a remarkable 72% price surge, demonstrating OKX’s significant influence on market dynamics and token valuations.

OKX’s Financial Transparency and Security Measures

Further strengthening its market position, OKX has achieved a significant milestone with the publication of its 24th consecutive Proof of Reserves (PoR) report for October 2024. 

This achievement marks two years of maintaining a 100% or higher reserve ratio, demonstrating the exchange’s unwavering commitment to financial transparency and asset security. 

As of October 8, 2024, OKX’s reserves exceed $20.3 billion in user assets, reinforcing its position as a trusted and reliable platform in the cryptocurrency exchange landscape. 

This consistent track record of transparency and security measures contributes to the platform’s credibility and its ability to influence market movements through new token listings.