Movement (MOVE) Plummets After Top US Crypto Exchange Coinbase Axes Support for the Layer-2 Project
The Ethereum (ETH)-based layer-2 project Movement (MOVE) cratered to an all-time low on Thursday after Coinbase announced it would axe trading support for the asset on May 15th.
Coinbase didn’t articulate a specific reason for the delisting, but the decision materialized a few weeks after Movement became embroiled in a controversy on another top crypto exchange.
In late March, Binance banned and froze the assets of a market maker that operated for Movement.
The layer-2 project’s native token launched via Binance’s Airdrops Portal in December, but Binance said that after MOVE was listed, the unnamed market maker sold approximately 66 million MOVE tokens on December 10th, with few buy orders.
The market maker ended up…
