- The Movement airdrop distributed 1 billion tokens to early participants.
- Rising trading volume and heavy demand meant MOVE is set for further gains.
As a seasoned crypto investor with a knack for spotting promising projects, I find myself intrigued by the meteoric rise of MOVE (Movement). The recent airdrop and listing on Binance have certainly added fuel to its fire, with the price skyrocketing by almost 60% in just hours.
In the past few hours, there has been a significant surge in the value of MOVE, with prices skyrocketing by nearly 60% just one day after its launch. MOVE is a scalability solution on Ethereum‘s [ETH] network that employs the Move Virtual Machine.
With MoveVM, Ethereum transactions can achieve one-second confirmation permanence. In an interview, Rushi Mande, co-founder of the Move Network Foundation, stated that “Move is an extraordinary programming language, incredibly secure and capable of high transaction rates.
He added that two major requirements for its success were a vibrant ecosystem and a community loyal to the chain.
Airdrop spiked Movement interest, prices
On December 9th, the Movement Network Foundation unveiled MOVE, a new initiative where they’re giving out 10% of the entire supply to qualified individuals and groups who participated in the Movement testnet’s transactions and tasks. This group includes eligible communities and participants.
This meant $830 million were up for grabs, a value that is now closer to $1 billion.
On December 9th, the cryptocurrency known as MOVE was activated on the well-known exchange Binance. At the start of trading, it boasted a market capitalization of approximately $1.6 billion.
People who signed up to use their BNB for the exchange’s offerings between the 2nd and 5th of December qualified to receive an airdrop, which was credited directly to their spot wallets.
MOVE crypto poised for more gains
In the span of thirty minutes, it became evident that the $0.89 price point served as a robust level of support. Moreover, the Relative Strength Index (RSI) exhibited predominantly bullish momentum. Additionally, the increasing On Balance Volume (OBV) underscored a significant uptick in demand during the recent hours.
Is your portfolio green? Check the Movement Profit Calculator
Despite having only a small amount of recent price information, the available data suggests that the MOVE cryptocurrency is strongly optimistic in the near future. It might encounter a test and stabilization around the $0.9 mark before ascending further in the upcoming days.
Beyond the local high at $1.31, the next targets for the bulls were at $1.47 and $1.74.
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2024-12-10 18:15