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Information about Movement (MOVE)
Movement Network is an ecosystem of Modular Move-Based Blockchains that enables developers to build secure, performant, and interoperable blockchain applications, bridging the gap between Move and EVM ecosystems. Movement Network is first Move-EVM L2 for Ethereum, alongside open-source tooling and protocols to facilitate the adoption of the Move programming language across blockchain ecosystems.
With Movement, developers can launch high-performance Move VM rollups with ease. Backed by Polychain Capital, Binance Labs, Hack VC, Placeholder, and Archetype, Movement Labs revolutionizes blockchain interoperability and advance Move-based technologies in the Web3 space.
MOVE is a native coin of the Movement ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
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News
The investigation by Movement Labs, supported by a third-party firm, aims to restore trust following the sell-off that drove MOVE’s price below 0.30 USD.
Movement’s co-founder Rushi Manche has temporarily stepped back amid the scrutiny, while Cooper Scanlon is managing the ongoing operations.
Onyxcoin [XCN] led the weekly gainers with a 120% surge, reaching 0.027 USD. JasmyCoin [JASMY] saw a 68.91% increase, rebounding from a 52-week low.
Tezos [XTZ] declined by 17.20%, forming a new support level at 0.53 USD. EOS dropped by 12.34%, reflecting bearish momentum after initial gains.
The week had mixed outcomes; rising trade tensions initially impacted the market, but excluding tech from new tariffs helped boost some assets significantly.
Binance has frozen the account of a market maker linked to the MOVE token for dumping tokens. On December 10, 2024, the market maker allegedly sold over 66 million MOVE tokens, generating a profit of 38 million USDT.
The frozen funds will be used to compensate the victims impacted by this dumping. Binance has informed the Movement Network Foundation of the irregularity, emphasizing that they had no knowledge of the market maker’s misconduct.
REX-Osprey is pursuing approval for an exchange-traded fund (ETF) that will focus on the MOVE token, linked to the Movement Network.
The public mainnet beta launch for Movement coincides with the ETF filing, showcasing the MOVE token’s robust network interest, with a market value nearing 5 billion USD.
With the SEC yet to approve altcoin ETFs but permitting Bitcoin and Ether, interest in alternative cryptocurrencies continues to grow among asset managers.
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