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MOVE Token Soars 50% Amid High-Profile Exchange Listings

The native token of the Movement layer-2 blockchain, MOVE, has surged by 50% in the past 24 hours, defying the broader market downturn and generating significant buzz in the crypto community. At the time of writing, MOVE is inching closer to the $1 mark, having reached an all-time high of $1.45 earlier today with a market capitalization of $3.15 billion.

Trading volume for MOVE surpassed $6 billion, indicating strong investor interest. Movement, which supports both MoveVM and Ethereum Virtual Machine (EVM) transactions, allows developers to build decentralized applications on a network touted as both “highly scalable” and secure. The platform’s compatibility with Ethereum-based dApps further enhances its appeal to developers seeking versatile solutions.

A key driver behind MOVE’s impressive rally has been its inclusion on multiple prominent exchanges. Before its official launch, top South Korean exchange Upbit announced support for MOVE, listing it against Korean won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs. Bithumb, another major Korean exchange, also listed MOVE in its won market. Furthermore, global exchanges such as Binance, OKX, and Bybit pledged support, collectively bringing substantial liquidity potential given their combined daily trading volumes of approximately $90 billion.

Movement’s debut came with an airdrop to testnet participants, contrasting sharply with recent airdrops like Hamster Kombat, Notcoin, and Dogs, which offered negligible token values. In some cases, Movement farmers received allocations reaching into five or six figures, rewarding those who participated in the testnet. According to data shared by DeFi analyst CC2, the Movement testnet attracted over 3 million users, and certain savvy participants even collected nearly $100,000 worth of tokens.

As the MOVE token finds its footing in the market, early adopters and dedicated testnet participants appear to have been significantly rewarded, demonstrating the potential upside of staying committed through crypto’s volatile cycles.

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