The $MOVE token has seen a sharp dump recently due to malicious activities from market makers, the internal team, and a past sell-off from Web3Port Labs in December 2024.

Movement Network's native token, MOVE, has experienced a precipitous decline, falling over 80% from its ATH of $0.25, with current prices hovering around the $0.19-$0.25 range

The $MOVE token has seen a sharp dump recently due to malicious activities from market makers, the internal team, and a past sell-off from Web3Port Labs in December 2024.

What Is Happening?

Movement Network’s native token, MOVE, has dropped more than 80% since May 2, 2024, with current prices ranging from $0.19-$0.25 as of May 1. This decline was exacerbated by Coinbase suspending MOVE trading on May 15, 2025, due to the token no longer meeting the exchange’s listing standards.

Following the announcement, MOVE’s price tumbled by approximately 14%-20% within hours, showcasing heightened market uncertainty and investor concerns surrounding Movement Labs’ operational instability. This decision, together with ongoing controversies, has led to increased scrutiny on the project and contributed to its diminished market confidence.

Key Factors That May Have Contributed to the Decline

Coinbase Is Suspending $MOVE Trading and Explains the Reason

Coinbase’s decision to suspend MOVE trading stems from a routine process that assesses whether tokens continue to align with the exchange’s listing criteria.

Coinbase will shift to “limit-only mode” on its platforms, effective immediately, restricting trading to specific price levels and rendering the token largely illiquid.

This move follows a pattern of erratic price movements and evidence of insider profit-taking, which have eroded the token’s credibility. The suspension has been particularly damaging given Coinbase’s significant market influence, with the token’s price dropping to an all-time low of $0.18-$0.20 post-announcement before a modest rebound to $0.25.

A Major Market Maker Is Allegedly Carrying Out Price Manipulation Activity

A major catalyst for MOVE’s decline was a market manipulation scandal uncovered in March 2025, which implicated a market maker associated with Movement Labs. Binance, the largest cryptocurrency exchange by trading volume, banned a market maker—speculated to be Web3Port or its affiliate Rentech—for misconduct after it dumped 66 million MOVE tokens (approximately 5% of the total supply) on December 10, 2024, one day after the token’s listing.

This sell-off, valued at $38 million, was executed with minimal buy-side support, triggering a sharp price crash and leading to accusations of price manipulation. The market-making agreement, which encouraged artificial price inflation to achieve a $5 billion valuation, was deemed "dangerous" and unethical by industry experts, further decreasing investor trust.

Binance subsequently froze the market maker’s profits and cooperated with Movement Labs and the Movement Network Foundation to launch a $38 million token buyback program to stabilize prices, although this measure has failed to halt the token’s downfall.

Movement Labs Faces Internal Challenges As A Third-Party Investigation Begins

Movement Labs has encountered significant internal challenges, including allegations of mismanagement and conflicts of interest. A third-party investigation, launched on April 21, 2025, by Groom Lake, an independent cybersecurity firm, is examining a market-making agreement that granted Rentech disproportionate control over MOVE’s token supply.

Internal documents unveiled that Movement Labs was deceived into signing this deal, which enabled Rentech to carry out a $38 million sell-off, exacerbating price volatility. Additionally, co-founder Rushi Manche stepped back amid the scandal, fueling concerns over leadership stability, while co-founder Cooper Scanlon continues to spearhead the project.

The Movement Network Foundation has distanced itself from the market maker’s actions, claiming no prior knowledge of the mischief, but these events have ignited strong reactions within the crypto community.

Bottom Line

The combination of Coinbase’s trading suspension, the market manipulation scandal, and internal governance issues has severely undermined MOVE’s market position.

Despite a brief price increase of 25% in late March 2025 following the announcement of a Strategic Reserve, the token has struggled to recover from its 80% decline since its ATH. The project’s initial promise, backed by prominent investors such as Polychain Capital and Binance Labs, and its $40.4 million in funding, has been overshadowed by these controversies.

Moreover, the delay of the anticipated MoveDrop airdrop event, which is set to distribute 740 million tokens, has disappointed investors.

Another bit of bad news that could happen to Movement Labs is that the World Liberty Finance will give up the $MOVE supply in their portfolio, leading to a prolonged unstable situation for the token.

As Movement Labs navigates this turbulent period, the ongoing third-party investigation and the effectiveness of its buyback program will be critical in determining whether the project can salvage investor confidence.

At the moment, MOVE remains highly volatile, trading on exchanges like Binance and Upbit, but its future hinges