Trading suspension on Coinbase
On May 1, 2025, the Coinbase platform – one of the largest trading platforms in the world – announced the suspension of trading for the MOVE currency effective May 15, due to the currency not meeting its listing standards.
This decision caused panic among investors and led to a sharp drop in the currency's price exceeding 15%, stabilizing around $0.20, the lowest level since its launch in December 2024.
Investigations into market manipulation
Movement Labs launched an internal investigation in collaboration with a cybersecurity firm, following reports that a company linked to Web3Port acquired over 66 million units of the currency, then sold them after the launch, causing strong selling pressure worth $38 million.
This news has heightened investor concerns and led some to describe what happened as organized manipulation that resulted in a collapse of trust in the project in a short time.
Future of MOVE currency
Despite all of the above, some see the current crisis as not necessarily meaning the end of the project. The MOVE network is still built on strong technology aimed at facilitating the development of decentralized applications in the Move language, the same language previously adopted by Facebook's Diem project.
If the team can provide greater transparency and swift corrective actions, there may be room to gradually restore trust and achieve a recovery in the medium to long term.
Do you think MOVE will recover? Or is what happened the beginning of the end?
Share your opinion in the comments
