MOVE Rises 60% in a Week Despite Overall Market Decline
Movement Network’s native cryptocurrency MOVE, launched on December 9, 2024, is among the top gainers of the week.
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Movement Network’s native cryptocurrency MOVE, launched on December 9, 2024, is among the top gainers of the week.
In the last 7 days, the token has risen by over 60%, despite the overall crypto market decline. At the time of writing, MOVE trades at around $1.15 with a market cap of over $2.5 million, making it the 49th largest cryptocurrency by this metric.
MOVE’s price over the last week. Source: CoinMarketCap
MOVE is the utility token of the Ethereum Layer 2 network Movement, revealed on November 25, 2024. It launched as an ERC-20 token on the Ethereum mainnet on December 9, with a maximum supply of 10 billion tokens, 10% of which was distributed to the Movement Network community through the MoveDrop and other activities.
According to data from CryptoRank, Move Labs raised over $41 million in total from investors, including Binance Labs, Polychain Capital, OKX Ventures, and others.
The Movement blockchain uses the Move programming language to provide developers with efficient tools for decentralized application development.
Created by Facebook, Move is known for its focus on flexibility and customizability. It’s also used by other blockchain networks, including Sui and Aptos.
Despite MOVE’s breakout, it’s unclear whether the token will continue its bullish run.
That being said, it has shown resilience during the market decline, with Bitcoin and Ether down by 6.6% and 9%, respectively. The overall crypto market cap currently stands at $3.33 trillion, down by 3% in a day.
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