The price of MOVE, the native cryptocurrency of Movement, has risen by more than 16% in the last 24 hours, boosted by a significant investment made by Donald Trump's World Liberty Financial project.
Donald Trump-linked cryptocurrency project World Liberty Financial has made a significant new investment in the digital market, acquiring MOVE, the native cryptocurrency of the Movement platform, for a value of $1,8 million.
This acquisition has had an immediate and considerable impact on the market price of MOVE, which has seen an increase of over 16% in the last 24 hours, trading above $0,83, according to data from CoinMarketCap, at the time of writing.
World Liberty Financial’s investment in MOVE not only represents a bet on the potential of this digital asset, but also highlights Trump’s growing involvement in the cryptocurrency ecosystem, a phenomenon that is both fascinating and scrutinizing.
The long-term impact of this investment remains to be seen, but MOVE’s immediate price movement suggests a significant market response to the news. World Liberty Financial’s strategy so far appears to focus on a diversification of its cryptocurrency portfolio, and this investment in MOVE points to a potential search for assets with a growing market and innovative underlying technology. It should be noted that MOVE is Movement’s native cryptocurrency, based on the Move programming language.
World Liberty Financial's crypto holdings continue to grow
According to data provided by blockchain analytics firm Arkham Intelligence, World Liberty Financial’s total cryptocurrency holdings are approaching $400 million. A significant portion of this portfolio, according to the platform, is comprised of Ether (ETH), the second-largest cryptocurrency by market capitalization.
Source: Arkham Intelligence
However, the decision to invest in MOVE, a cryptocurrency with a specific value proposition, contrasts with the predominant ownership of ETH. Experts believe that this latest investment highlights a potential search for growth and diversification opportunities in specific niches of the digital asset market, with the aim of reducing the risk associated with concentrating on a single cryptocurrency.
What is Movement and what is the significance of its cryptocurrency MOVE?
Movement is an innovative blockchain network based on the Move programming language, originally developed for Meta’s Diem project, which seeks to revolutionize the way people access financial services. It focuses on providing inclusive and transparent financial infrastructure, applications, and experiences, empowering users with greater control over their assets and data.
This blockchain platform is characterized by its high performance and scalability, and by its focus on improving security and efficiency in the development of smart contracts, allowing for a more robust and less error-prone experience compared to other programming languages used in the blockchain ecosystem. In addition, Movement is positioned as a scaling solution for Ethereum, integrating directly with its infrastructure and taking advantage of its security and network effects, which has made it an attractive option for developers and users.
Its native cryptocurrency, MOVE, plays a crucial role in the ecosystem of this network, acting as a medium of exchange within the ecosystem and allowing holders to participate in security and governance.
Source: CoinMarketCap
Deployment of Movement Developer, Mainnet and Cornucopia
Recently, Movement Labs announced a major milestone in the development of its ecosystem: the launch of Movement Developer, Mainnet, and Cornucopia.
This launch, which follows the initial mainnet launch in December 2024, marks the beginning of the public mainnet development phase and lays the groundwork for the public beta scheduled for mid-February.
The significance of this announcement lies in the combined strategy of technical infrastructure and DeFi liquidity from day one. Movement Developer Mainnet will provide developers with a robust and secure platform based on MoveVM, leveraging Ethereum’s scalability. Simultaneously, Cornucopia, a multi-asset liquidity program, will accelerate the growth of the ecosystem by providing support for DeFi applications and encouraging adoption of the protocol.
Cornucopia includes several specialized vaults aimed at securing the liquidity of BTC, ETH, and MOVE tokens, as well as a $100 million Ethena stablecoin vault. This initiative, developed in collaboration with Concrete, Veda Labs, Echelon, and Canopy, demonstrates a clear institutional commitment to Movement’s DeFi ecosystem.
For Cooper Scanlon, co-founder of Movement Labs, this launch marks the beginning of a new era for blockchain development, offering immediate value to developers and users. Furthermore, the integration with LayerZero and the implementation of permissionless DApps complete the proposition, positioning Movement as a promising alternative in the blockchain space.
