One new layer-2 Ethereum (ETH)-based altcoin rose triple digits as top US crypto exchange Coinbase added its support.
Movement (MOVE) rose to a high of $1.45 on Monday, a gain of more than 135% from the low of $0.616, according to Coinbase announced the digital asset was listed on its trading platform.
MOVE has since recovered 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 pose certain risks such as price fluctuations and canceled orders due to lower trading volume and availability.
MOVE also recently gained support on top crypto exchange Binance and Korean crypto 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 then used to develop layer 1 blockchains Sui (SUI) and Aptos (APT).
Earlier this year, venture capitalist Chris Burniske drew attention to the Movement’s ecosystem.
said Burniske,
“I think it’s worth paying attention to – even though it’s very small at the moment – the Move ecosystem, so things like Movement, Aptos, Sui…
People aren’t really talking about that ecosystem right now in a way that I find interesting, because I always like to go to places where people don’t talk about anything much. It’s a quiet wave that could be very good.
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Generated image: Midjourney