Share this article
Movement Network's MOVE Trades at $1.3B Market Cap Amid Airdrop
The Movement Network was built using Facebook's programing language Move.
Updated Dec 9, 2024, 1:33 p.m. Published Dec 9, 2024, 11:41 a.m.
What to know:
- The MOVE token will have a maximum supply of 10 billion with 10% of that being allocated to early users and community members.
- 22.5% of supply will be set aside for early investors, the company raised $38 million in April.
- The Movement Network was built using Move, a programing language created by Facebook that is behind the Sui and Aptos networks.
Movement, an Ethereum layer-2 network that was built using MoveVM, issued its native token on Monday with a portion of the tokens being airdropped to early users and community members.
MOVE is currently trading at 61 cents representing a $1.3 billion market cap on the back of $441 million worth of trading volume in the first 90 minutes since going live.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token, MOVE, was listed on Binance via the exchange's airdrops portal, and was also be listed on prominent South Korean exchanges Upbit and Bithumb.
Movement Labs raised $38 million in a Series A financing round led by Polychain Capital in April. Move is a programing language first designed by Facebook and has since been used to create Sui and Aptos.
MOVE will be listed on Binance at 13:00 UTC and 20:00 local time on Upbit.
The maximum supply of MOVE is 10 billion, with 10% of that being allocated to early users and community. 22.5% of tokens have also been set aside for investors whilst 10% will go to the foundation.
Airdrop claims can initially be made on the Ethereum network although users can wait to receive a 1.25x boost by claiming it on the Move network at a later date, according to the company's website.
UPDATE (Dec. 9, 13:28 UTC): Adds paragraph on MOVE price action, updates headline to include price.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Cascade Unveils 24/7 Neo-Brokerage Offering Perpetuals on Cryptos, U.S. Stocks
The platform will let retail traders use one margin account to trade round-the-clock perpetual markets.
What to know:
- Cascade has introduced a 24/7 brokerage-style app for perpetual markets spanning crypto, U.S. equities and private-asset exposure.
- The firm is pitching a single, unified margin account with direct-to-bank U.S. dollar capability for deposits and withdrawals.
- The company has raised $15 million from investors including Polychain Capital, Variant and Coinbase Ventures.
Top Stories
