Movement, known as a top-level project, raised 41.4 million yuan and was listed on almost all mainstream exchanges such as Binance, Upbit, Bithumb, Coinbase, OKX, Bingx, Gate, and Bybit on the same day. Despite the Bitcoin pullback and doubts from retail investors, it still opened with a relatively high market value and further rose at the opening.

What exactly is the force that supports it? The total amount of MOVE is 10 billion, with an initial circulation of 22%. You can get airdrops by participating in the test network. There are two options for receiving airdrops. One is to choose to receive MOVE on the Ethereum mainnet, and the other is to receive MOVE after the Movement Network mainnet is launched (the mainnet has not yet been launched). If you choose the latter, there will be a 1.25x reward multiplier, because you can get 25% more coins after the mainnet is launched. Most ordinary coin friends still choose to receive it later, and most studios’ low-income accounts also choose to receive it later because of ETH’s Gas problem. Although airdrops are issued, there are basically no coins in their hands.

In addition to the fact that everyone has few coins, another factor is the Korean market. Upbit and Bithumb, two leading exchanges in Korea, were originally scheduled to launch MOVE at the same time at 8 pm. However, a smaller Korean exchange, Coinone, chose to launch MOVE at the same time, and the opening price was as high as 998,500 won (about 700 US dollars), forcing the two major Korean exchanges to postpone the launch time of MOVE, which pushed up MOVE again to a certain extent. Do you think MOVE can support such a high market value? Is it a king or a doom?