Crypto
Key Points
- MOVE recorded a huge success following yesterday’s launch on Binance and other exchanges.
- MOVE is the biggest Binance Hodler Airdrop project so far, with token rewards of 20 million MOVE.
Movement (MOVE) saw a huge first day after Binance announced its launch as the 3rd Airdrops Portal project on December 9.
MOVE’s Market Cap Surpassed $3 Billion Hours After Launch
MOVE was listed by Binance yesterday at 13:00 (UTC) with Seed Tag applied, and the exchange opened trading for five pairs including MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD, and MOVE/TRY.
Yesterday, the coin’s price fluctuated between $0.6 and around $0.7 after launch, but today, the token kicked off an impressive price rally from around $0.75 to over $1.4 earlier.
After reaching this top, the token saw a short-lived correction below $0.1, just to bounce back above $1.37 shortly after.
MOVE debuted yesterday with a market cap of $1.4 billion, and reached $3.15 billion earlier today. At the moment of writing this article, MOVE is trading at around $0.72, up by 17% in the last 24 hours, and the token has a market cap of $1.63 billion.
The 24-hour volume for MOVE is currently close to $7 billion. The coin’s total supply is 10 billion MOVE tokens, and the circulating supply is 2.25 billion MOVE tokens.
MOVE – Binance’s Biggest HODLer Airdrop Project
MOVE is the biggest Binance HODLer Airdrops project with airdrop token rewards of 20 million tokens, representing 2% of the maximum token supply.
Binance users who stake MOVE can get airdrops. Users who don’t have a Binance account can create one here, and join the HODLer Airdrop.
What is Movement (MOVE)?
Movement is an L2 solution created using MoveVM, aiming to offer developers a powerful, efficient, and scalable platform to create the next-gen dApps.
The Movement Foundation is the driving force behind the Movement ecosystem, as revealed by the official website of the project and it’s dedicated to the following targets:
- Fostering innovation
- Supporting developers
- Advancing the adoption of MoveVM technology
Movement Labs revealed the official whitepaper of the project on November 21, 2024: “Move Stack Chains: A Network of High-Throughput Fast-Finality Move-Based Rollups Secure4d by Ethereum Version 0.2.5”
Move Stack Chains
The whitepaper’s Abstract addresses the introduction of Move Stack Chains – a secure and scalable network of Move-based rollups secured by Ethereum that address the need for safer execution environments.
Move Stack, a modular framework for creating highly customizable Move Rollups, is at the core of this network.
The Movement Network revealed the best features of Move Stack as follows:
- Move Executor: A high-throughput execution layer with MoveVM, parallel execution, and EVM compatibility
- Fast-Finality Settlement Mechanism: This achieves confirmation in seconds, by leveraging economic security from a network of validators, maintaining Ethereum’s security
- Modularity: Integration with multiple DA services and sequencers; developers can also opt for validity or optimistic rollup configurations to achieve the best Ethereum security
The whitepaper’s Abstract also mentions Move Arena – a complex infrastructure that integrates Move Stack Chains with the project’s services, enabling an ecosystem of next-gen interoperable rollups.
Rollups benefit from DSS – the decentralized shared sequencer network, which allows the following:
- Enabling seamless cross-rollup interoperability
- Enhancing censorship resistance
- Eliminating single points of failure
DSS is secure via the multi-staking mechanism that:
- Brings economic security across Move Stack Chains and beyond
- Minimizes the infrastructure requirements
- Maximizes the sovereignty of each Move Rollup
Yesterday, the team behind the project shared a message via X, highlighting their excitement to see how the Movement community will guide the network and bring Move’s superior security guarantees to Ethereum.
