And just like that, with the swiftness of a falling star, the price of Movement (MOVE) dropped by 16% in the blink of an eye. This, after the giant of cryptocurrency exchanges, Coinbase, decided to pull the plug on the tokenās listing. What a show, right? Coinbaseās announcement was as clear as mud: the suspension, effective May 15, 2025, was due to some *unspecified* reason. Oh, you know, just your average ālisting standards mismatch.ā No big deal. š
In the latest twist of this crypto saga, Coinbase made it official on X, revealing that MOVE no longer meets their lofty listing criteria. The token will be shown the door from both the Simple and Advanced Trading windows. Imagine the heartbreak of those who thought they had the next big thing. Ah, but that’s crypto for you! š„²
“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Movement (MOVE) on May 15, 2025, on or around 2 PM ET.” ā Coinbase Assets š”ļø (@CoinbaseAssets) May 1, 2025
As if that wasnāt enough, Coinbase also announced that the order-books for MOVE would now be in limit-only mode. Yes, you read that right: limit orders, because who doesnāt want to feel like theyāre part of an exclusive club at a discount price? š
Following the news, MOVEās price took a nosedive from its daily high of $0.2534 to a humble $0.2020. A 16% dip in just a few hours, and yet, the 24-hour trading volume spiked by 135%. How curious. All this trading, yet not much to show for it! Currently, MOVE sits at a total of $260 million in trading volume. Talk about a rollercoaster, huh? š¢
But wait, the plot thickens. While Coinbase holds its cards close, a post from MetaverseSG has unraveled some *spicy* details about the tokenās past. Movement Labs, the creators behind MOVE, raised over $38 million. They even had the blessing of Donald Trumpās World Liberty Financial. But, plot twist: the promised airdrop was a mirage, and things only went downhill from there. šØ
It seems that on the day of its debut, December 9, 2024, a mysterious middleman unloaded 66 million tokens, sending the price crashing down by a staggering 85%. Oh, and letās not forget: the team *also* failed to buy back those precious tokens as promised. If youāre still holding MOVE, you might want to sit down for the next part. š¬
“$MOVE raised $38M. Had Trump backing. Promised a big airdrop. Now itās down 85% and getting delisted from Coinbase on May 15. What happened? ā¢ 66M tokens handed to a sketchy middleman ā¢ $38M worth dumped day one ā price nuked ā¢ The wallet tied to that dump was banned by…”
ā MetaverseSG (@MetaverseSG) May 1, 2025
Meanwhile, the $38 million buyback was nowhere to be found, and the promised airdrop was delayed indefinitely. To add insult to injury, Donald Trumpās World Liberty Fi, which holds a hefty 7.5 million MOVE tokens, has only raised further questions about the ethics of this whole ordeal. Itās like a bad soap opera, but with more zeros attached. šø
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2025-05-01 22:14