Motion (MOVE) has surged by 16% prior to now 24 hours, with its rise to $0.527 coming after the Motion Community Basis introduced a $38 million buyback of MOVE tokens.
MOVE is now up by 16.5% in per week and by 15% in a month, though it stays down by 63% from its ATH of $1.45, which it set in December.
The buyback program has elevated bullishness for MOVE, with the coin’s basis additionally asserting that it’ll start a strategic reserve with the preliminary buyback.
This means extra buybacks over time, one thing which may assist enhance Motion and its native token because it goals to develop as a layer-two community for Ethereum.
Motion (MOVE) Defies Binance Fallout with $38 Million Buyback – Can it Overtake Solana?
Motion’s buyback has emerged in response to Binance shutting down a MOVE market maker which appeared to have engaged in market manipulation.
This shutdown came about on March 11, having a destructive impact on MOVE’s value, which dutifully fell from $0.50 to $0.42 on March 24.
$38M MOVE Token Buyback Amid Market Maker Scandal!
Motion Community is launching a $38 million buyback of its MOVE tokens following a market maker's breach of contract. The buyback goals to stabilize the token's worth and restore investor confidence after the market maker… pic.twitter.com/9MMGunhmFL— MrPersonalTrader (@MPersonalTrader) March 25, 2025
This was the date when the Motion Community Basis introduced its buyback program, which it’s conducting with the $38 million Binance has recovered from the banned market maker.
As we are able to see from its chart as we speak, it loved an enormous surge in momentum following this information, with its relative energy index (purple) capturing as much as 80 yesterday.
Such a studying is generally signal of an overbought market, but presumably essentially the most bullish characteristic of MOVE’s chart is its 30-period transferring common (orange), which is about to climb over the 200-period common (blue).
On condition that the shorter time period common has spent greater than two months beneath its long term counterpart, its forming a golden cross ought to sign a sustained interval of features.
Certainly, MOVE’s quantity has shot as much as its highest stage in practically three months, as traders race to build up the token earlier than the buyback program kicks in.
The important thing element of the Motion Community Basis’s announcement was that will probably be utilizing the recovered MOVE “to determine the Motion Strategic Reserve.”
The existence of such a reserve would suggest that the Basis will probably be periodically shopping for up MOVE, past the preliminary $38 million.
2 hours in the past, @movementfdn's Strategic Reserve Pockets acquired 10M $MOVE price $5.47M from #Binance.@movementfdn has introduced a $38M buy-back of $MOVE over the subsequent 3 months after recovering funds from a market maker accused of misconduct on @binance.
Tackle:… pic.twitter.com/4Pjbi4O87B— Onchain Lens (@OnchainLens) March 25, 2025
This might assist help the token’s value in the long term, with the coin additionally benefitting from some very strong fundamentals as an EVM-compatible layer-two community that makes use of the MOVE programming language.
It may return to $0.60 within the subsequent few weeks, earlier than hitting $1 once more by H2.
A New Layer-Two For Solana – 2025’s Greatest Play?
Transfer is one in every of a number of promising networks harnessing the Transfer programming language (e.g. Sui, Aptos), but it’s not the one new layer-two community attracting consideration for the time being.
One different sturdy instance is Solaxy (SOLX), a layer-two community for Solana that has now raised a really spectacular $28 million in its ongoing presale.
Rollup Efficiency
• Rolling out key optimizations to deal with extra transactions in much less time.
• Collaborating with Sovereign on a brand new caching mechanism to streamline processing.
• Refining serialization and deserialization to chop down on overhead.
Bridge UI
•…— SOLAXY (@SOLAXYTOKEN) March 26, 2025
As an L2, it can allow Solana customers to keep away from failed transactions and delays, which proceed to influence the layer-one community, regardless of enhancements prior to now couple of years.
It’s going to additionally provide sooner transactions and decrease charges than its dad or mum chain, with which it can additionally present immediate bridging.
SOLX will function the cost token for transaction charges, whereas holders may also be capable of stake it for a passive revenue.
As such, it may expertise sturdy demand as soon as it launches, with its value rising in parallel with Solaxy’s progress.
Buyers can nonetheless be a part of its sale by going to the official Solaxy web site, the place SOLX is promoting at $0.001674.
This value will rise once more later as we speak, and can proceed to rise till the sale ends.
Consumers ought to, subsequently, act shortly, with SOLX heading in the right direction to have an enormous itemizing.
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