A new layer 2 Ethereum (ETH)-based altcoin surged to triple digits as leading US crypto exchange Coinbase added support.
Movement (MOVE) soared to a high of $1.45 on Monday, a gain of over 135% from its low of $0.616, as Coinbase announced the digital asset was listed on its platform negotiation.
MOVE has since retraced and is trading at $0.65 at the time of writing, down 13.1% in the last 24 hours. With a market capitalization of $1.46 billion, it is the 96th largest crypto project.
Coinbase has added the “experimental label” to MOVE, which the platform assigns to tokens that present certain risks such as price fluctuations and canceled orders due to lower trading volume and availability.
MOVE also recently gained support from major cryptocurrency exchanges Binance and Korean cryptocurrency exchange Upbit.
Move is a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem Project. It was later used to develop the Sui (SUI) and Aptos (APT) layer 1 blockchains.
Earlier this year, venture capitalist Chris Burniske brought attention to the Movement ecosystem.
Said Burniske,
“I think it’s worth paying attention – even though it’s very small at this point – to the Move ecosystem, so things like Movement, Aptos, Sui…
People aren’t really talking about this ecosystem right now in a way that I find interesting, because I always like to go where people aren’t talking a lot about something. It’s a little-crowded wave that could become very good.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
