The cryptocurrency market is always full of surprises, and one recent development has caught the attention of traders and investors alike. A new layer-2 Ethereum-based altcoin called Movement (MOVE) experienced a substantial surge in value after being added to the trading platform of top US exchange Coinbase.
At its peak, MOVE reached a price of $1.45, representing a staggering increase of over 135% from its previous low of $0.616. However, the token has since retraced and is currently trading at $0.65, reflecting a 13.1% decrease in the last 24 hours. Despite this dip, MOVE still boasts a market cap of $1.46 billion, placing it as the 96th largest cryptocurrency project in the market.
Coinbase labeled MOVE as “experimental,” indicating that the token may pose certain risks such as price volatility and potential order cancellations due to lower trading volume and availability. This cautionary note did not deter investors, as MOVE has also gained support on other major exchanges like Binance and Upbit.
The origins of MOVE trace back to the programming language developed by Meta for the now-defunct Diem project. This language was later utilized in creating layer-1 blockchains Sui (SUI) and Aptos (APT), forming the foundation of the Movement ecosystem. Venture capitalist Chris Burniske highlighted the potential of this ecosystem earlier this year, emphasizing the lack of attention it was receiving despite its promising prospects.
As MOVE continues to gain traction in the crypto market, it remains an intriguing asset to watch. With support from prominent exchanges and a growing ecosystem, Movement has the potential to make significant waves in the industry. Stay tuned for further developments and subscribe to receive email alerts for the latest updates.
Remember to stay informed about price action and follow us on Twitter, Facebook, and Telegram for real-time updates. Join the Daily Hodl community to stay ahead of the curve and explore new opportunities in the ever-evolving world of cryptocurrency.
Image Credit: Midjourney
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix