Coinbase Stops Backing MOVE, Leading to Sharp Decline in Layer-2 Cryptocurrency's Value
Gripping News Desk 📰
Newsbits
- Crypto Crash Alert: MOVE Token Tumbles Post Coinbase Delisting 🔽💰
The MOVE token, associated with the layer-2 network, Movement, took a nosedive after popular cryptocurrency exchange Coinbase announced its withdrawal of trading support on May 15, 2025.
Coinbase didn't go into the specific reasons behind this shocking decision. However, the situation had been brewing for a couple of weeks ever since Movement found itself in a stir over a controversy on Binance.
Last month, Binance blocked and froze the assets of a market-maker involved with MOVE. The layer-2 project's native token made its debut via Binance's Airdrops Portal in December. But Binance purportedly claimed that the market-maker, who goes unnamed, sold off an astounding 66 million MOVE tokens just one day after listing, with minimal buy orders. The end result? A whopping $38 million profit in stablecoin USDT, before the market-maker landed in Binance's crosshairs last week. 🤑💸
The MOVE token reached its all-time low of $0.185 for a brief moment on Thursday. As of now, the 160th-ranked crypto asset by market cap is trading around $0.189, witnessing a staggering 23% drop over the course of twenty-four hours. 📉
👉 Stay Updated on the latest news on X, Facebook, and Telegram.
🔍 In the Spotlight
- Giant Sell-Off Imminent for Bitcoin if it Drops Below Crucial Support: Crypto Expert\
- 19x Rally for This Ethereum-Backed Altcoin vs Bitcoin by Year-End Predicts Analyst\
- 150% Surge Expected for Top Decentralized Exchange Altcoin if Bitcoin Stays Healthy: Trader
Covering the future of finance, with a focus on macro, bitcoin, ethereum, crypto, and web 3.
Categories
Bitcoin • Ethereum • Trading •Altcoins • NFTs • Blockchain • Futuremash • Regulators • Scams •HodlX • Press Releases
The DH Crew
Attention Layer in Web3 Gets Revolutionized with $17 Million Funded Blockchain, T-Rex 🦖💰Esports Makes Historic Debut with Official Crypto Exchange Partnership, Flipster and TALON's Dota Two Team 🎮🏆Fast Liquidity Recovery After $1.5 Billion Hack by Bybit, Confirms Kaiko 💸🚀Promeeters Program, New Launch to Boost Influencer Impact and Long-Term Earnings, Reveals ProMeet 💼💰DogeOS Boosts Funding to Unveil Dogecoin App Layer with $6.9 Million 🐕💰Casper 2.0 Now Live on Mainnet, Gearing Up for the Real-World Asset Era 🌐👷♂️MultiBank Group Prepares to Tokenize $3 Billion in Real Estate Assets with MAG Launch 🏢💰
Let us know your thoughts! Send your Industry Announcements, Guest Posts, Press Releases, and Sponsored Posts to us at [email protected]. Don't forget to check out our opinions, news, price action, and much more at thedailyhodl.com.
Stay ahead of the curve with The Daily Hodl!What's your take on the latest crypto drama? Share your thoughts and stay informed on X, Facebook, and Telegram! 💬🌐📲
Resource: The Daily Hodl
© 2025 The Daily Hodl
Advertise 📣💼
- The sudden drop in the MOVE token's value could be a sign of a broader cryptocurrency market trend, raising concerns among investors in the altcoins sector, especially as cryptocurrencies like Ethereum and Bitcoin continue to show volatile price movements.
- Despite the recent fall of the MOVE token after its delisting from Coinbase, blockchain-based businesses and finance ventures remain confident and optimistic, with innovative projects like T-Rex revolutionizing the Web3 layer and MultiBank Group planning to tokenize $3 billion in real estate assets.
- The cryptocurrency industry is evolving at an unprecedented pace, with influential players like DogeOS investing in Dogecoin app layer development, Casper 2.0 going live on the mainnet, and esports teams partnering with official cryptocurrency exchanges, all indicators of a healthy and thriving crypto ecosystem.
- As the decentralized exchange altcoin surges in expectation of Bitcoin staying healthy, traditional finance may witness increased disruption, as more businesses and assets get listed and tokenized, contributing to the broader decentralization of the financial sector.
- In light of recent events like the MOVE token's tumble following its delisting from Coinbase and the ongoing volatility across the cryptocurrency market, it is crucial to stay informed and up-to-date on the latest news, trend analysis, and expert opinions to make informed financial decisions.
