The Movement Foundation has achieved a remarkable milestone with users applying for approximately US$314 million worth of MOVE tokens on the public mainnet.
The substantial level of participation has coincided with impressive market performance, as the MOVE token has recorded a significant 40.57% price increase over the past seven days.
The current market metrics show MOVE trading at $0.8607, with a robust 24-hour trading volume of $517,374,709, representing a 9.94% increase in just the last 24 hours.
The project’s scale is substantial, with a circulating supply of 2.3 Billion MOVE tokens, resulting in a market capitalization of $1,936,381,947.
Token Generation Event Success
Two weeks following the MOVE Token Generation Event (TGE), the Movement Foundation has reported exceptional user engagement through their official X (formerly Twitter) platform.
The foundation highlighted that an overwhelming majority of users have opted to apply for MOVE tokens directly on the Movement public mainnet, demonstrating strong confidence in the project’s infrastructure and potential.
The significant level of participation, totaling approximately US$314 million in applications, indicates substantial market interest in the MOVE ecosystem.
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Exchange Listing Catalyst
Earlier this month, MOVE experienced another significant price surge of 28.92% following Upbit’s announcement of new trading pairs.
The major cryptocurrency exchange revealed plans to list MOVE trading pairs against Korean Won (KRW), Bitcoin (BTC), and Tether (USDT), with trading scheduled to commence on December 9, 2024.
The development came with specific technical requirements, as users were instructed to deposit MOVE exclusively through the Ethereum network to ensure smooth transaction processing and avoid any potential delays.
Market Impact and Technical Considerations
The combination of successful token applications and strategic exchange listings has created substantial positive momentum for the MOVE token.
The price rally of 40.57% over the past week demonstrates strong market confidence in the project’s fundamentals.
Important technical considerations have been implemented, particularly regarding token deposits on Upbit, where users must strictly adhere to Ethereum network deposits to ensure transaction efficiency.
The project’s market performance, coupled with its expanding exchange presence and significant user participation in token applications, suggests a growing ecosystem with strong market interest and potential for continued development.
Also Read: MOVE Token Surges 28.92% As Upbit Announces MOVE Trading Pairs Listing