🔥Coinbase Suspends Trading of MOVE Token from May 15
Coinbase has announced that it will temporarily suspend trading of the MOVE token – the native currency of the layer-2 blockchain Movement developed by Movement Labs.
Coinbase's decision comes right after an independent investigation released by the Movement Network Foundation. The investigation revolves around a controversial agreement between Movement Labs and Web3Port, a market-making company, which is suspected to be the reason behind the sharp decline in MOVE's price in December 2024.
Currently, the price of MOVE has dropped significantly, now sitting at around 0.20 USD, after reaching its peak at the end of 2024. On Coinbase, MOVE trading has now shifted to a limited mode, allowing users to place and cancel orders but no longer facilitating free order matching as before.
