Upbit, the widely trusted global standard digital asset exchange, has announced the upcoming listing of the MOVE token on its platform.
According to the official announcement, Upbit will be supporting MOVE trading pairs denominated in the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).
The trading support is scheduled to begin at 21:00 local time on December 9th, 2024, subject to potential changes.
Deposit and Withdrawal Details
MOVE deposits and withdrawals will be facilitated through the Ethereum network.
Upbit has specified that all MOVE deposits made before the token’s reference price is registered on CoinMarketCap, or before the Upbit trading support goes live, will be subject to Travel Rule verification, regardless of the conversion amount.
Users are advised to carefully check the network before depositing MOVE to ensure the transactions are processed correctly.
Trading Restrictions and Notes
Upbit has outlined several trading restrictions for MOVE on its platform.
These include a 5-minute buy order restriction after trading support begins, a minimum selling price set at 30% below the previous day’s over-the-counter trading low, and a 1-hour restriction on order types other than limit orders.
Additionally, Upbit emphasizes the importance of depositing MOVE only through the indicated Ethereum network, as deposits through other networks may result in delays or inability to reflect the funds.
About the MOVE Token
MOVE is the native token of the Movement project, an Ethereum Layer 2 solution that supports both the MoveVM and Ethereum Virtual Machine (EVM).
This dual-compatibility allows developers to maintain existing Ethereum application integrations while also benefiting from the stability and scalability of the Move programming language.
Additionally, the Movement Labs team provides a highly flexible rollup construction infrastructure through the Move Stack, making it easier for developers to build Move-based rollups on the Movement Layer 2 network.
MOVE Token Performance and Market Positioning
The announcement of Upbit’s MOVE trading pair listing has already had a significant impact on the token’s price.
In the 24 hours leading up to the news, MOVE experienced a 28.92% surge, trading at $0.09657 with a 24-hour trading volume of $2,151.46.
Over the past 7 days, the token has seen a remarkable 108.85% price increase. With a circulating supply of 8.5 million MOVE tokens, the project currently holds a market capitalization of $817,573, positioning it as a promising player in the Ethereum Layer 2 ecosystem.
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