A new layer-2 Ethereum (ETH)-based altcoin experienced a significant surge in value after being added to the top US crypto exchange Coinbase.
The price of MOVE skyrocketed to $1.45 on Monday, marking a remarkable 135% increase from its low of $0.616, following Coinbase’s announcement of listing the digital asset for trading.
As of the latest update, MOVE has retraced to $0.65, representing a 13.1% decline in the past 24 hours. With a market cap of $1.46 billion, it currently ranks as the 96th largest crypto project.
Coinbase categorized MOVE under the “experimental label,” indicating potential risks such as price fluctuations and order cancellations due to lower trading volume and liquidity.
In addition to Coinbase, MOVE has also gained support on leading exchanges like Binance and Upbit in Korea.
Originally developed as a programming language for the now-defunct Diem project backed by Meta, Move has been utilized in creating layer-1 blockchains Sui (SUI) and Aptos (APT).
Venture capitalist Chris Burniske recently highlighted the Movement ecosystem, stating,
“I think it’s worth paying attention to – even though it’s very small at this point – the Move ecosystem so things like Movement, Aptos, Sui… People are not really talking about that ecosystem right now in a way that I find interesting, because I always like to go where people aren’t talking about something much. It’s an uncrowded wave that might get very good.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
