The crypto market is currently limping, with the shine fading, at least for now. While the top 10 coins post nothing but “lackluster” performance, periphery tokens thrive. One standout is MOVE, the utility currency of the Movement mainnet.
According to Coingecko data, yesterday, MOVE spiked to as high as $0.89 before cooling off. Even at spot rates, the coin is up by nearly 13% in the last 24 hours, with bright prospects ahead.
(Source)
Despite broader market headwinds, its impressive performance follows a $1.9 million purchase by World Liberty Financial (WLFI), a DeFi project managed by Trump family members.
Since launching, the team has been on a buying spree, buying multiple tokens, including wBTC, ETH, and now MOVE.
MOVE Price Surges On World Liberty Financial Purchase: Insider Trading?
Currently, MOVE is trading at $0.80 and is up the coin market cap rankings, overtaking several top DeFi and layer-2 projects, including Arbitrum.
The World Liberty Financial “endorsement” is a major boost for the layer-2 protocol, which utilizes MOVE, the technology developed by Facebook that now powers multiple projects, including Aptos.
According to on-chain trackers, World Liberty Financial bought MOVE via CoWSwap. Interestingly, this purchase occurred just minutes before Movement Labs announced their mainnet launch.
There are claims that Trump family members, the team behind World Liberty Financial, might have had insider knowledge of the announcement.
So… is this an inside trading? asking for a friend.
Presidential inside trading pic.twitter.com/MoNwmoAtzc
— DC (@Pedr0_DC) January 28, 2025
Movement Labs reportedly discussed implementing blockchain to streamline government operations with the Department of Government Efficiency (DOGE).
*MOVEMENT AMONG FIRMS DISCUSSING BLOCKCHAIN USE WITH MUSK'S DOGE TEAM: SOURCE
*BLOOMBERG REPORTED MUSK'S DOGE EVALUATING BLOCKCHAIN TECH FOR GOVT EFFICIENCY EFFORT
— db (@tier10k) January 28, 2025
As a result, some analysts suggest this could be a case of classic insider trading, particularly noting the timing of the purchase alongside a sharp increase in open interest on exchanges like Binance.
(Source)
However, Movement Labs co-founder Rushi Manche has defended the situation, stating they were “surprised” by the purchase and were focused solely on their developer mainnet launch, denying any direct communication with WLFI.
Struggle to Keep Up? Time To Explore MEMEX
Despite these allegations and the timing of the MOVE purchase, both retail and institutional investors will likely monitor the coin closely.
In the meantime, attention is turning to other high-quality projects like the Meme Index (MEMEX).
Meme Index has raised over $3 million from the community just a month after the crowdfunding started.
It aims to tap into the $110 billion meme coin market, with forecasts suggesting the sector could grow to a $1 trillion market cap in the next five years.
Meme Index has created four baskets of meme coins, ranging from the most stable and popular tokens like Dogecoin and Shiba Inu to newer, smaller-cap coins listed on decentralized exchanges like Raydium.
Each basket offers a different risk-reward profile, with the “Meme Frenzy” index providing the highest risk-reward ratio and the “Meme Titan” index being the most stable, with tokens having a market cap of over $1 billion.
MEMEX serves as the utility token for the Meme Index ecosystem. It allows holders to create custom indexes, vote on included assets, and earn additional rewards through staking. Currently, stakers receive a 741% APY.
MEMEX is available for just $0.0156557 in the ongoing presale, with over $3.2 million sold.
Token prices are set to increase in under 36 hours.
You can buy MEMEX using ETH, USDT, and even debit/credit card.
EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025
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