$MOVE Listed on BYDFi: Market Cap at $170 Million, Valuation around $10 Billion
Seychelles, Seychelles, December 13th, 2024, Chainwire
The native token of the Movement Network, $MOVE, which was launched on December 9, 2024, outpaced its price of $1.45 after the release. As an innovative blockchain ecosystem based on a Move programming language, the Movement Network is going to integrate its ecosystem with $MOVE tokens right after the launch of its mainnet. Currently, BYDFi has officially listed $MOVE, showing deep insight into the development of blockchain technology and being forward-looking in terms of market positioning.
$MOVE: A Token Economy Built on Core Blockchain Security Technology
The Movement Network is the first blockchain ecosystem built on the Move programming language. This language developed by Meta’s (formerly Facebook) cryptography team, fundamentally redefines how secure, modular, and verifiable smart contracts are written. One of the major challenges in blockchain development today is the security of smart contracts, with billions of dollars lost annually due to exploit vulnerabilities. Move provides developers with a safer and more predictable development environment, aiming to reduce the risk of vulnerabilities while lowering the resource costs required to maintain on-chain security.
Co-founders of Movement Labs are former Aptos engineer Rushi Manche and blockchain entrepreneur Cooper Scanlon. The team members have hailed from leading blockchain projects, including Biconomy, Sui/Mysten Labs, and Fluid Finance. Drawing on experience in the field of blockchain development and fin-tech, the team is committed to the security, scalability, and transaction finality of Ethereum.
After announcing the Movement Network’s Public Mainnet, the public chain of the Move language, the $MOVE token becomes core in the ecosystem:
• Cybersecurity Pledge: Verifiers pledge $MOVE to guarantee network security and get rewards.
• Transaction Fees: The gas fees are covered by $MOVE within the Movement Network for barrier-free transactions.
• Governance Participation: Token holders can participate in governance; thus, they have a say in the future of the network.
These utilities make $MOVE quite substantial and an important factor within the Movement Network for users and investors.
Market Volatility: $MOVE Token
Per data from Coingecko, the token of $MOVE is up 4.7% in the last 24 hours, trading at 0.7053 dollars at the time of writing, with a total trading volume of 6.516 billion dollars. The circulating supply of the token is 2.3 billion with a fully diluted valuation close to 10 billion dollars. The ability of $MOVE to defy the course of the market is a consequence of the technical advantages of the Move programming language, as mentioned above, and due to several other factors:
1. Potential as an Infrastructure Token:
Similar to $ETH, the core asset of the Ethereum ecosystem, $MOVE plays a critical role in the operation of its entire ecosystem. Although the market performance of such tokens might be volatile in the early stages, it tends to stabilize and show growth potential when the underlying technology and ecosystem mature. Consequently, $MOVE aims to be one of the essential assets in the blockchain space.
2. Community Building to Amplify Influence:
Community development is a high priority to the Movement Labs team, hence the airdrop event of $MOVE. This was for rewarding some of the earliest adopters and for bringing new users into its ecosystem in order to expand the sphere of influence and activities of the community.
3. Strength Built Through Multiple Funding Rounds:
Thus far, the Movement team has completed three rounds of funding and acquired 41.4 million dollars in total. With investments from institutions such as Polychain Capital, Hack VC, Aptos Labs, and Primitive Ventures, this project obtained further momentum. Among these, Primitive Ventures co-founder Dovey Wan overthrew the original decision by the team to forgo investment in it; reevaluating, she bet on this “dark horse”.
While high volatility has hit leading cryptocurrencies in the wider market, the $MOVE token has gained interest among crypto investors due to its outlook on its ecosystem. Influencers such as @nihilus_XBT and @CryptoProject6 have shown optimism in the future direction of $MOVE.
Presently, users can monitor $MOVE’s market trends in real-time on the BYDFi, and actively participate in spot trading. BYDFi will soon launch “BYDFi Copy Trading” to facilitate seamless access to crypto trading. These ultimately allow beginners and busy investors to invest in markets. BYDFi is dedicated to providing users with crypto trading experience.
About BYDFi
Founded in 2020, BYDFi has established itself around the world based on the principle of making things easy for customers and bringing an innovative spirit. Featured in Forbes’ top 10 for best crypto exchanges, BYDFi operates the largest spot trading area for more than 600 tokens and flexible use of 1x to 200x leverage. Ease of purchasing cryptocurrencies due to partnerships with leading payment services providers, Banxa, Transak, and Mercuryo for a fraction of the cost and accessibility.
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