Move Token Jumps 12% on Mainnet Beta Launch – Good Time to Buy In?
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While most of the crypto market is struggling, Movement Network’s MOVE token has jumped nearly 12% in the past 24 hours. This rally comes after the Movement Network Foundation launched its Movement Public Mainnet Beta, boosting investor confidence.
Movement Network Launches Public Mainnet Beta
On March 10, the Movement Network Foundation introduced its Movement Public Mainnet Beta, marking a major milestone for the project. This is the first Move-based blockchain that connects with Ethereum, making it easier for developers to launch smart contracts without limitations.
Market analysts point out that when an asset’s AO bars turn green, it signals lower selling pressure and stronger buying interest. This has led to speculation that MOVE could continue rising in the coming days.
The launch has sparked more interest in MOVE, pushing its 24-hour trading volume to $372 million, an 18% increase. The network has also started strong with $250 million in locked value, providing good liquidity and usability from the start.
ETF Applications Could Fuel More Demand
Adding to the excitement, asset management firms tREX and Osprey Funds have applied for an exchange-traded fund (ETF) focused on MOVE. If approved, this ETF would allow institutional investors to gain regulated exposure to the token, potentially increasing demand further.
Price Outlook: Will MOVE Hit $1?
MOVE is currently trading at $0.50, slightly above its key resistance level of $0.48. After breaking out of a month-long downtrend, the token is showing signs of a potential bullish trend.
For now, MOVE is moving within a tight range, but a breakout could push its price to $0.70 soon. If the momentum stays strong, it may even reach $1 next month.
However, if traders start taking profits, the token could struggle to hold its gains and may drop back to its all-time low of $0.37.
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