Last week, the MOVE token of Movement Network was officially launched on Binance's airdrop portal, and soon after, it quickly listed on South Korean exchanges Upbit and Bithumb.

The initial trading price of the MOVE token was $0.74, and within the first 90 minutes, it exhibited an astonishing trading volume of up to $450 million. It was expected to open with a brilliant market, however, the price then plummeted sharply, dropping over 50%.

This kind of drastic price fluctuation, especially when dealing with meme coins like MOVE, raises the question of whether exchanges have, to some extent, contributed to the severe volatility in prices?