Movement Labs, a Web3 startup, is on the verge of closing a $100 million venture financing round, boosting its valuation to around $3 billion, according to Fortune. This would make Movement the latest blockchain unicorn, joining the ranks of Celestia and Story Protocol. Despite a dip from early 2022 highs, Web3 projects still raised $1.6 billion in Q4 2024.

In December, Movement launched its L2 mainnet and MOVE token, focusing on infrastructure providers. The network aims to speed up Ethereum L2 transactions with a new mechanism, potentially reducing confirmation times to under a second. Movement's innovative approach could redefine transaction finality in the crypto space.