• TEXT= DATE: 26.05.2025 Akarun  |  IDO  | GameFi
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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 5.1 Gwei
 

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MOVE token price crash

MOVE token price crash following Coinbase delisting and internal scandal

https://icn.live/wp-content/uploads/2025/05/move-token.mp3
  • by ICN.live
Khaled Darwish

MOVE token price crash continues as the Ethereum-based asset hits a historic low of $0.18 after recent turmoil.

The collapse follows Coinbase’s announcement to delist MOVE from its trading platforms by May 15 due to compliance concerns.

The exchange will first transition the token to limit-only trading, allowing users to cancel or place orders, but not execute new trades. This caused MOVE to drop over 23% in a single day. It’s now down more than 50% in the past month and nearly 84% below its $1.21 high set in December 2024.

MOVE token price crash reflects deeper network crisis

The MOVE token price crash doesn’t only stem from the delisting. Internal chaos also hit the Movement Network this week. On May 2, Movement Labs suspended co-founder Rushi Manche amid an active investigation. The inquiry targets alleged market manipulation and suspicious token activity by insiders.

In December, a large-scale sell-off by an unnamed market maker dumped 66 million MOVE tokens. That triggered the first major price collapse. While Binance froze associated funds, further details have now emerged. According to CoinDesk, the parties involved include Web3Port and Rentech. The latter reportedly operated on both sides of the deal to profit from the dump.

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Governance breakdown fuels token holder distrust

To control the damage, Movement Labs hired Groom Lake, a Web3 intelligence firm, for a third-party audit. The Foundation also launched a $38 million buyback initiative to support the MOVE token. Called the Movement Strategic Reserve, the fund aims to rebuild investor trust and stabilize price levels.

Manche, who was suspended, publicly responded to the crisis. He criticized shadow decision-makers who allegedly misused treasury funds and negotiated backend deals. Despite his distancing from personal involvement in OTC trades, he admitted the project was misled by bad actors.

MOVE token price crash may continue if investor confidence isn’t restored quickly. The project’s founders promised new governance protocols based on audit findings. However, the crypto community remains skeptical. MOVE’s drastic price correction and ongoing scandal highlight the risks of opaque tokenomics in the crypto gaming and DeFi space.

Unless Movement Labs regains community support, the token may struggle to recover. With Coinbase cutting ties and Binance stepping back, MOVE’s liquidity and visibility are severely affected.

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Why did the MOVE token price crash so dramatically?

The MOVE token price crash is a result of multiple compounding issues. First, Coinbase announced it would delist MOVE by May 15, citing non-compliance with listing standards. This news caused an immediate price dip. However, the deeper cause stems from internal turmoil. Movement Labs suspended co-founder Rushi Manche amid a probe into market-making misconduct. Reports revealed that a firm called Rentech and Web3Port executed a coordinated sell-off of 66 million tokens in December 2024. This triggered the initial crash and eroded investor trust. Even with a $38 million buyback plan, the token’s future remains uncertain.

What led Coinbase to delist MOVE?

Coinbase decided to delist the MOVE token due to its failure to meet internal compliance and listing standards. The company did not provide exact criteria violations, but this typically includes issues like liquidity risks, legal uncertainties, or irregular trading activity. Coinbase will place MOVE in limit-only mode before the final delisting on May 15. The delisting signals waning institutional support, which adds to the token’s downward momentum. Delistings are generally seen as red flags by the market and tend to have immediate negative effects on token price and volume.

Who is Rushi Manche and what is his role in this situation?

Rushi Manche is one of the co-founders of Movement Labs, the organization behind the MOVE token. He was suspended by the foundation on May 2, following the emergence of alleged market manipulation linked to a third-party market maker. Manche has denied any personal wrongdoing, stating he never sold or traded MOVE tokens directly. However, he acknowledged poor decisions in hiring and governance. He pointed to ”shadow actors” who he claims operated behind the scenes, exploiting their influence for personal gain. An external audit is underway to determine the full scope of these actions.

Can the MOVE token recover from this crisis?

Recovery is possible, but several conditions must be met. The Movement Network Foundation has launched a $38 million buyback initiative aimed at supporting the token price and rebuilding trust. A third-party audit by Groom Lake is expected to deliver recommendations for stronger governance. However, public confidence has been shaken. Both Coinbase and Binance distanced themselves from MOVE, affecting its accessibility and liquidity. For the token to rebound, Movement Labs must provide transparency, enforce governance reforms, and re-establish community engagement. Until then, skepticism will likely dominate market sentiment.

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