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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
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.
MOVE has experienced a significant rise of 7.33% in the last day, driven mainly by bullish traders in the derivatives market. However, profit-taking from spot traders, reflected by recent sales of $693,790, may impede further upward momentum.
Despite the rally, MOVE faces resistance near 0.555. A break above this level could lead to higher targets around $0.848, marking a potential gain of 52.90%. Traders need to monitor buying pressures in the derivatives market.
Following unconfirmed reports of Movement Labs’ collaboration with Elon Musk’s D.O.G.E. Initiative, MOVE token increased by 15%. Additionally, World Liberty Financial’s investment of 2 million USD in MOVE tokens further suggests potential ties, while Movement Labs’ earlier funding success of 100 million USD boosts confidence in their blockchain contributions.
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