New Layer-2 Project Movement (MOVE) Debuts at $7,708,019,888 Valuation Amid Support From Binance, UpBit
A new Ethereum (ETH)-based layer-2 project is debuting with a fully diluted value (FDV) of more than $7.7 billion amid support from leading crypto exchanges.
According to a new announcement, top crypto exchange Binance is supporting Movement (MOVE) through its airdrop portal.
After the airdrop, MOVE will be available to trade in the MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD and MOVE/TRY trading pairs.
Binance is attaching a seed tag to MOVE, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.
Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
Korean crypto exchange Upbit has also announced trading support for MOVE.
Hours after launch, MOVE is trading for $0.77 at time of writing, up 13.8% since going live. With a market cap of $1.7 billion, MOVE is the 86th largest crypto project. The project’s FDV, the current token price times the total supply, is at $7,708,019,888.
Earlier this year, the project caught the attention of venture capitalist Chris Burniske, who called Movement an ecosystem that could be the one to watch in the near future.
Move is a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem project. It was then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).
Said Burniske,
“I think it’s worth paying attention to – even though it’s very small at this point – the Move ecosystem so things like Movement, Aptos, Sui…
People are not really talking about that ecosystem right now in a way that I find interesting, because I always like to go where people aren’t talking about something much. It’s an uncrowded wave that might get very good.”
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