MOVE token's strong debut features a 50% surge, major exchange support, generous testnet rewards, and widespread praise from analysts.
The native token of the Movement Network, MOVE MOVE $0.89 24h volatility: 31.7% Market cap: $2.01 B Vol. 24h: $5.83 B , has shone brightly following its launch. MOVE has surged by over 50% in the last 24 hours, while its market capitalization has also seen significant growth. The token is currently trading at $1.10, slightly below its all-time high of $1.45 reached earlier today.
One major factor driving MOVE’s success is its support from leading crypto exchanges. Tokens listed on top exchanges typically gain increased visibility and liquidity, which has also benefited MOVE.
Upbit, a top South Korean crypto exchange, announced hours before the MOVE token launch that it would list the digital asset with Korean won, Bitcoin, and USDT trading pairs. Leading centralized exchanges such as Binance, OKX, and Bybit have also announced their support for MOVE trading on their platforms. These 3 crypto exchanges have a combined trading volume of around $90 billion.
Furthermore, Movement Network has received praise from experts following yesterday’s airdrop launch to its testnet participants. The crypto project has impressed many, unlike other projects that faced criticism for insufficient airdrops. Movement rewarded its testnet participants generously, with some farmers receiving 5 to 6-figure rewards.
DeFi analyst CC2 wrote on X that Movement had over 3 million testnet wallets participating, with participation being entirely free. CC2 stated:
“Movement somehow managed to reward Testnet participants handsomely while expert farmers walked away with at least 5 figs, and true Sybilio’s w/ close to 6 figs. They had over 3M (!) Testnet wallets participating, and it was entirely free to do.”
The DeFi analyst noted that he had never expected a testnet airdrop to be this substantial. CC2 praised the Move testnet participants, saying they weren’t discouraged by recent underwhelming airdrops but remained focused on their long-term goals.
Chainsight, an on-chain data provider, praised Movement for its MOVE token launch, calling it a major milestone for the Movement Network. Chainsight also revealed its support for Movement developers with modular data solutions and insights to drive innovation in the Movement ecosystem. Chainsight wrote:
“Huge congrats to movementlabsxyz on the launch of $MOVE! This is a major milestone for the Movement Network. The Movement is just getting started, and we’re excited about what’s next. Gmove! At Chainsight, we’re proud to support movementlabsxyz developers with flexible, modular data solutions. We provide a wide array of insights to power apps uniquely optimized for the Movement ecosystem. Together, we’re building the future of on-chain innovation.”
With this strong support from exchanges and on-chain firms, coupled with the well-received airdrop, the MOVE token could continue its bullish trajectory for an extended period.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
