The MOVE token’s price fell by 6% to 0.694 USD, following a 13% decline in the overall cryptocurrency market. This drop follows a staggering 52% loss from its peak of 1.45 USD on December 10.
The public airdrop of 1 billion MOVE tokens prompted many recipients to sell their holdings soon after receiving them. This mass selling significantly contributed to the recent decline in token price.
With support from central exchanges like Binance and OKX, MOVE token could see recovery. Its integration in the Movement layer-two network enhances prospects for growth and adoption.