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Crypto project MOVE experienced a sudden drop of more than 20% today. is a new L2 crypto project based on Meta (Facebook) Move programming language. The project aims to scale up Ethereum’s security and performance.
Unfortunately, here we can end with all the good news. The future of the project doesn’t look so bright, and something is happening behind the curtains.
Why is Crypto Project MOVE Dumping?
With recent events happening with Mantra, many investors wonder if MOVE is the next under the guillotine? Today’s drop caused many traders to lose a lot of money. But what made this drop? Well, for a star, Coinbase, one of the biggest centralized exchanges (CEX), announced delisting of the token on 15 May 2025.
🚨 #MOVE crashed ~25% in few hours!#Coinbase to suspend $MOVE trading on May 15, 2025
They say it no longer meets listing standards… pic.twitter.com/XHNJrStPJm
— Crypto Patel (@CryptoPatel) May 1, 2025
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Turns out that the project that is backed up by huge VCs is still struggling to meet the industry standards. Even the famous DeFi platform World Liberty Financial (WLF), backed up by President Donald Trump, is holding MOVE coins.
Most of all, what made Coinbase delist the project and Binance ban the market-making account involved. Right after the MOVE project launched in December 2024, wallets connected to Web3Port and Rantech sold 66 million MOVE tokens.
That resulted in a huge price drop and more than $38 million in profit for those market-making companies. Rantech initially thought to be part of Web3Port but later turned out to be a separate agent for the Movement Foundation.
.@movementlabsxyz suspended co-founder Rushi Manche
The move to suspend Manche comes as @coinbase delisted the $MOVE token, after CoinDesk reported that Movement Labs is investigating how a market maker tied to Web3Port acquired and dumped over 5% of the token’s supply,… pic.twitter.com/DipUR7BFtS
— ICO Drops (@ICODrops) May 2, 2025
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All this led to further inside conflicts in the Move Foundation and throughout investigation into what happened. The fallout of these events led to the delisting of the MOVE coin from Coinbase and the suspension of co-founder Rushi Manche.
All that being said, there are still people who are optimistic about the project. Thinking that the project will come back and delisting will be reverted.
I bought more $MOVE
THE Delisting of movement by @coinbase will be canceled
Don't forget @worldlibertyfi holds movement pic.twitter.com/2T61L9fTO3
— Keto 🍀 (@keto_studio) May 1, 2025
All this negative news doesn’t mean that L2 is something that has no future. Quite the opposite, L2 is a fascinating technology that closes the gap between users and developers.
Hidden Gem in the L2 World
One thing that MOVE doesn’t have is that it isn’t a first mover. In the world of crypto, first movers are always the ones who pave the road to high returns and success. Such a project is Solaxy, the first-ever L2 based on the Solana network.
Solaxy is the natural evolution in crypto technology created to unlock the full potential of the Solana ecosystem, which enhance scalability and zero downtime in times of high volume.
Solaxy has a native token, $SOLX, which unlocks more rewards for its holders. The project is currently in presale with more than $32,7 million raised.
For the next couple of days, the token price is fixed at $0.001712, which will increase when the time period ends.
Another way to give back more to the community is through their staking program. Offering a staggering APY of 123%.
On April 19th, they launched Block Explorer, and the next step is launching the bridge so you can move your coins more easily.
It is super easy to buy via card or crypto. Solaxy is one of the best presales that is happening in 2025.
For the latest updates on the project, connect with the SOLX community on X and Telegram
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