Crypto Project MOVE Experienced a Sudden Drop of More Than 20% Today

Crypto project MOVE saw a sudden drop of more than 20% today. The new L2 crypto project is based on Meta (Facebook) Move programming language and 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.

They say it no longer meets listing standards.

The project, which 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.

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, leading to a price crash.

The report claims that the market maker sold 66 million MOVE tokens, which resulted in a $38 million profit.

Earlier this year, a market-making account on Binance, allegedly involved in the MOVE price manipulation, was banned by the exchange. The account had been actively buying and selling MOVE, contributing to the token’s volatility.

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.

This isn't the first time a major exchange has delisted a token due to suspicious activity. Earlier this year, Poloniex delisted several tokens, including AIDO (Artificial Intelligence Driven Optimisation) and BTC3L (Bitcoin Triple Leverage), following reports of market manipulation.

The move to delist the tokens came after a period of rapid price appreciation and subsequent crashes, which were attributed to coordinated efforts by token insiders to manipulate the market.

The AIDO token, in particular, experienced an exponential rise in price from $0.0007 in January to a peak of $0.08 in March. However, the token's value subsequently plummeted to $0.003 within a week, leaving many investors with significant losses.

Insiders of the AIDO and BTC3L tokens were allegedly involved in manipulating the tokens' prices on Poloniex and other exchanges. They used sophisticated trading strategies and large-scale transactions to create artificial demand and drive up the tokens' values.

The actions of the insiders had a significant impact on the market and resulted in substantial gains for the insiders and significant losses for other investors.

The involvement of major exchanges, such as Poloniex, in the delisting of the tokens highlights the importance of exchanges in monitoring and regulating the crypto market.

The blatant market manipulation by the AIDO and BTC3L insiders is a clear violation of Poloniex's terms of service and the principles of fair play in the cryptocurrency space.

The delisting of the tokens is a strong message from Poloniex that such behavior will not be tolerated. It is also a reflection of the exchange's commitment to protecting its users from fraudulent and manipulative activities.

The actions of the AIDO and BTC3L insiders have had a devastating impact on many investors, who lost a significant portion of their savings. The involvement of President Trump in the WLF project may also lead to more attention being paid to the crypto market by mainstream institutions.

L2 Tech Is Closing the Gap

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.

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