The MOVE token price is ~$0.19 USD as of May 2, 2025, down 20.21% in 24 hours and 86.4% from its $1.45 all-time high on Dec 10, 2024. It hit an all-time low of $0.184814 on May 1, 2025. Key factors:
1. Coinbase Suspension: Coinbase will suspend MOVE trading on May 15, 2025, citing listing standard issues, triggering a sell-off.
2. Market Maker Scandal: Binance banned a market maker for dumping 66M MOVE tokens (~$38M) post-listing, violating rules. Movement is investigating, announced a $38M buyback (not yet executed), and tied the issue to possible Web3Port misconduct.
3. Airdrop Delays: The planned airdrop, delayed for the fifth time, frustrated the community. The Dec 2024 airdrop (1B MOVE) caused volatility as recipients sold.
4. Leadership Rumors: Unconfirmed claims on X suggest co-founder Rushi Manche’s suspension, adding uncertainty.
5. Market Trends: High initial hype (mainnet launch, listings) drove prices up, but profit-taking, a bearish crypto market, and unresolved issues fueled declines. Despite WBTC integration and partnerships, momentum faded.
The crash stems from Coinbase’s suspension, the market maker dump, delayed airdrop, and unexecuted buyback, eroding trust. Sentiment is bearish, but some see recovery potential if issues are resolved. Check Binance or CoinMarketCap for live data.
