Coinbase, the top US cryptocurrency exchange, has added support to a new altcoin based on layer-2 Ethereum.
Coinbase’s announcement that the digital asset would be listed for trading on their platform boosted Movement (MOVE), which soared up to $1.45, an increase of 135% over its previous low of $0.616.
MOVE is currently trading at $0.65, a drop of 13.1% over the past 24 hours. It is 96th in terms of market capitalization with a $1.46 billion cap.
Coinbase has added an “experimental” label to MOVE. The platform uses this to identify tokens with certain risks, such as sudden price changes and cancelled orders due to lower trading volumes and availability.
MOVE has recently been added to Binance, the top cryptocurrency exchange in Korea and Upbit.
Move was originally developed by a consortium supported by the tech giant Meta as a language for Diem, a project that is now defunct. The language was used for the development of layer-1 blockchains Sui and Aptos.
Chris Burniske, a venture capitalist who began his career in 2000, called attention earlier this year to the Movement eco-system.
Said Burniske
It’s not something that people talk about much right now, which I find very interesting. I like going to places where there isn’t a lot of discussion. This is a wave with fewer people that could get good .”
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Layer-2 Project using Facebook’s Move Language Rallies hard as Coinbase adds Trading Support can be updated as new information becomes available.
