Movement (displacement) The price of the token fell by more than 15% after the announcement of Coinbase that it suspends the token trade on May 15, 2025. This announcement created panic on the market, causing significant price fluctuation. The decline of the token is also linked to the recent allegations of market manipulation, adding additional uncertainty for investors.
Coinbase to hang trading against Move token
Crypto Exchange Coinbase revealed that he suspends trade for moving from May 15. Although the exchange did not specify the exact reasons for the decision, he underlined his continuous examination process to ensure that the assets listed meet its standards.
Consequently, Coinbase Move Order Books of Move in limit mode only, which means that users could place or cancel the limit commands, but no new transaction can occur. The suspension will affect trade on Coinbase.com (simple and advanced trade), Exchange Coinbase and Coinbase Prime.
We regularly monitor the assets of our exchange to ensure that they meet our registration standards. Based on recent criticisms, suspend the exchanges for the movement (moving) on May 15, 2025, around or around 2 p.m. he.
– Coinbase assets 🛡️ (@coinbaseasets) May 1, 2025
The decision occurred in the background of increasing concerns linked to the activity of moving on the market. The allegations of market manipulation surrounding the token were examined on its stability. In particular, World Liberty Financial, a company linked to Donald Trump, made a more in -depth examination of the legitimacy of his token in the middle of his recent ETH sale. Given the uncertainty surrounding the future of the token after the actions and the fear of Coinbase or more and more on other exchanges, market players are concerned.
Move the drop in prices and investor reactions
After the announcement, the moving price fell by more than 15%. According to the latest data, the price of the token is $ 0.2,24,969, a decrease of 50% in the last month and 85% compared to its $ 1.45 ATH in December 2024. This drop in decision prices rocked investors' confidence, which prompted some traders to sell their assets.
Coinbase's decision is the main factor contributing to the price accident, in particular given the permanent concerns concerning the allegations of manipulation of the Move market.
This volatile period experienced a massive interest in the token, which led to a volume of negotiation which reached around $ 374 million. Moreover, Move open interest In the derived markets, also increased by 2.91% to $ 105.5 million, which also indicates that traders actively engaged with the token on the derivative markets.
Market handling allegations and internal surveys
Recently, Move has been involved in the controversy concerning the allegations he engaged in the manipulation of motion prices before its launch. According to the survey, the developer behind the move, Movement Labs concluded a partnership with Web3port and a third -party intermediary, Rentech. According to the arrangement, Rentech manages a large percentage of the moving offer in circulation, helping to increase prices shortly after its release.
The case also includes World Liberty Financial, another fundraising of movement laboratories, which adds to complexity. In addition, in January, the movement, the network behind the token, discussed the use of blockchain with the team of the Ministry of Elon Musk Government (DOGE), just 8 days after Trump procedure.
However, internal communications from movement laboratories have suggested that the company itself was not aware of the full extent of market creation agreements with Rentech and Web3port. Movement Labs is currently investigating these agreements to see if he was misleading in the process.
The internal probe can clarify the things which, we hope, will restore a large part of the lost confidence in the move. If Movement Labs notes that it has been misleading, it can recover from the controversy. However, market performance has already started to undergo damage to the token reputation as we see in suspension plans and to move the drop in prices.
Kelvin Munene Murithi
Kelvin is a distinguished writer with an expertise in crypto and finance, holder of a baccalaureate in actuarial science. Known for its incisive analysis and its insightful content, it has a strong mastery of English and excels in carrying out in-depth research and the dissemination of appropriate updates of the cryptocurrency market.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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