Latest, hurry to see MOVE token up 25%, becoming the best-performing altcoin
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MOVE is the native token of the modular blockchain project Movement Network, and it has now become the best-performing altcoin. In the past 24 hours, the value of the cryptocurrency has risen by 25%, and MOVE has reached this milestone.
Why is this altcoin able to rank among the top 100 today? On-chain analysis reveals key details and suggests the next steps for its price.
On December 24, the price of MOVE token was $0.84. As of the time of writing, it has surpassed the $1 mark. This price surge is related to a significant increase in cryptocurrency trading volume. Yesterday, the trading volume of MOVE peaked at around $830 billion.
Today, the trading volume has soared to $1.69 billion, reflecting growing interest in altcoins, surpassing several other cryptocurrencies. From a price perspective, the increase in trading volume along with the price rise indicates a strong upward trend.
Conversely, a decline in trading volume suggests waning interest, which could weaken upward momentum. Given the current situation, the best-performing altcoin MOVE seems poised for further increases in the short term.
The rise in Movement's trading volume and price may also be related to the integration of Wrapped Bitcoin (WBTC) into the network on December 19. Through this development, Movement can attract more liquidity into its decentralized finance (DeFi) protocols.
As a result, the number of active addresses on the network has increased. Active addresses are an important indicator of user engagement and overall market activity. When they increase, it reflects a rise in the number of market participants interacting with the token.
Conversely, a decline indicates reduced trading activity on the blockchain. According to data from Santiment, the number of active addresses for MOVE has increased over the past 24 hours. If this trend continues, the price of the altcoin may continue to rise.
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