MOVE Token Surges 12% After Mainnet Launch & ETF Filing—Is $1 the Next Target?

Share This Post

The post MOVE Token Surges 12% After Mainnet Launch & ETF Filing—Is $1 the Next Target? appeared first on Coinpedia Fintech News

While almost the entire crypto market is currently struggling & trading in red, Movement Network (Move) token has managed to rise nearly 12% in the past 24 hours. This sudden rally comes as the Movement Network Foundation launched its Movement Public Mainnet Beta, raising investor confidence. 

MOVE Surge Following Mainnet Beta Launch

On March 10, the Movement Network Foundation introduced its Movement Public Mainnet Beta, marking a big step forward for the project. This is the first Move-based blockchain that connects with Ethereum, making it easier for developers to launch smart contracts without restrictions.

https://twitter.com/movementlabsxyz/status/1899127928723853681

Experts believe that when an asset’s AO bars turn green, it shows less selling pressure and stronger buying momentum. This has led to talks that MOVE could continue rising in the coming days.

Meanwhile, the launch has boosted interest in MOVE, increasing its trading volume to $372 million, an 18% jump in just 24 hours. The network also started strong, with $250 million in locked value, ensuring good liquidity and usability from day one.

ETF Filings Could Bring Institutional Interest

Adding to the excitement, asset management firms tREX and Osprey Funds have applied for an exchange-traded fund (ETF) focused on MOVE. If approved, this ETF would allow institutional investors to gain regulated exposure to the token, potentially driving more demand.

MOVE Price Momentum 

As of now, the MOVE token is trading at $0.50, slightly above its key resistance at $0.48. However, the token has recently broken out of a month-long downtrend, signaling the possibility of a new bullish trend. 

MOVE is currently moving within a tight range, but a breakout could push its price to $0.70 soon. If momentum stays strong, MOVE may continue its upward trend and potentially reach $1 next month.

However, if profit-taking increases, the token could struggle to hold its gains and might even drop back to its all-time low of $0.37.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQs

What is Movement Network (MOVE) token?

Movement Network (MOVE) is a Move-based blockchain that integrates with Ethereum, enabling seamless smart contract deployment.

Why is MOVE price increasing?

MOVE surged 12% after the Movement Public Mainnet Beta launch, boosting investor confidence and increasing trading volume.

Could MOVE reach $1 soon?

If bullish momentum continues and ETF approval happens, MOVE may hit $1. However, profit-taking could cause a pullback.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Analyst Predicts Dogecoin And Altcoins’ Next Surge – Here’s The Timeline

In a series of posts shared on X, crypto analyst Kevin has mapped out a bullish scenario for Dogecoin and altcoins should the US Federal Reserve shift its monetary policy toward easing later this

8,000 BTC Still Buried as Appeal Denied—Bitcoin Recovery Fight Heads to Europe

A British man’s desperate fight to recover about 8,000 lost bitcoin—worth hundreds of millions—has been blocked again, pushing him to take his battle to Europe Appeal Denied: 8,000 BTC Trapped

Dogecoin Price Repeats Pattern From 2021 That Could Trigger Rally Above $10

A crypto analyst’s long-term technical analysis of the Dogecoin price highlights a repeating historical pattern from 2021 The analyst suggests that if Doge‘s price action can completely mirror

Ripple’s New Trademark Filing Sparks Speculation on Upcoming Crypto Wallet

The post Ripple’s New Trademark Filing Sparks Speculation on Upcoming Crypto Wallet appeared first on Coinpedia Fintech News Ripple Labs, the blockchain company behind the XRP token, has

Wazirx Preps for Relaunch With Zodia Custody, Backed by Banking Powerhouses

Wazirx is gearing up for a high-stakes relaunch after a major security breach, partnering with Zodia Custody to reinforce asset security and rebuild user trust Wazirx Is Gearing Up for High-Stakes

XRP To Triple Digits? Analyst Confident In $100 Price Goal

As one of the top-performing digital assets in the 4Q of 2024, it’s only natural that Ripple’s XRP attracts attention from its detractors and bullish supporters The bearish sentiment has been