Movement Network Launches MOVE Token with $1.3B Market Cap Amid Airdrop
The Movement Network was built using Facebook's programming language Move.
Key Highlights
- The MOVE token has a maximum supply of 10 billion, with 10% allocated to early users and community members.
- 22.5% of the total supply is designated for early investors; the company raised $38 million in April.
- The Movement Network utilizes Move, a programming language developed by Facebook, also utilized by the Sui and Aptos networks.
Movement, an Ethereum layer-2 network utilizing MoveVM, has launched its native token this past Monday, distributing airdrops to its early users and community.
The MOVE token is currently valued at $0.61, achieving a market cap of $1.3 billion, accompanied by trading activity of $441 million within the first 90 minutes post-launch.
The MOVE token has been listed on Binance and will be available on the airdrop portal, with listings also planned for South Korean exchanges Upbit and Bithumb.
In April, Movement Labs successfully raised $38 million through a Series A funding round headed by Polychain Capital, focusing on the innovative programming language created to build Sui and Aptos.
Airdrop Details
Claims for the airdrop will primarily occur on the Ethereum network. However, users can opt to claim on the Move network later to receive a boost of 1.25x.
UPDATE (Dec. 9, 13:28 UTC): This narrative now includes the price action of MOVE and updates the headline accordingly.
