MOVE Token Rises Over 50% Following Launch and Airdrop Success
The native token of the Movement Network, MOVE, has experienced a significant increase following its launch. MOVE surged over 50% in the last 24 hours and is currently trading at $1.10, just below its all-time high of $1.45 reached earlier today.
A key factor contributing to MOVE’s success is its backing from major crypto exchanges. Tokens listed on prominent exchanges gain visibility and liquidity, benefiting MOVE. Upbit, a leading South Korean exchange, announced it would list MOVE with trading pairs in Korean won, Bitcoin, and USDT. Additionally, centralized exchanges such as Binance, OKX, and Bybit have also supported MOVE trading, collectively handling around $90 billion in trading volume.
Generous Airdrop Rewards Impress Testnet Participants
Movement Network garnered positive feedback after its recent airdrop for testnet participants. Unlike other projects criticized for inadequate airdrops, Movement rewarded its participants generously, with some receiving substantial rewards. DeFi analyst CC2 reported that over 3 million testnet wallets participated, and participation was 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.”
CC2 noted that the significant rewards were unexpected for a testnet airdrop and praised the participants for remaining focused on their long-term goals despite recent underwhelming airdrops.
Movement’s Launch Receives Praise from On-Chain Experts
Chainsight, an on-chain data provider, commended Movement for the MOVE token launch, describing it as a milestone for the Network. Chainsight expressed its support for Movement developers with modular data solutions and insights aimed at fostering innovation within the ecosystem. Chainsight stated:
“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. 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.”
With strong support from exchanges and on-chain firms, along with the successful airdrop, the MOVE token may sustain its upward trajectory.