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.

$MOVE Downed more than 80% since ATH

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 $0.19-$0.25 as of May 2, 2025. This significant erosion in value was exacerbated by a critical development on May 1, 2025, when Coinbase, a leading cryptocurrency exchange, announced the suspension of MOVE trading effective May 15, 2025, citing the token’s failure to meet its listing standards.

Learn more: What is Movement?

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

$MOVE downed significantly in 3 months – Source: CoinGecko

Key Factors Contributing to the Decline

Coinbase Trading Suspension and Listing Standards

Coinbase’s decision to suspend MOVE trading stems from a routine review that determined the token no longer complies with the exchange’s stringent listing criteria.

The shift to “limit-only mode” on Coinbase’s platforms, effective immediately, restricts trading to specific price levels, further constraining liquidity.

This move follows a pattern of erratic price movements and evidence of insider profit-taking, which have undermined 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.

Market Manipulation Scandal Involving Market Makers

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 raising allegations of price manipulation. The market-making agreement, which incentivized artificial price inflation to achieve a $5 billion valuation, was criticized by industry experts as “dangerous” and unethical, further eroding investor trust.

Binance subsequently froze the market maker’s profits and collaborated with Movement Labs and the Movement Network Foundation to initiate a $38 million token buyback program to stabilize prices, though this measure has failed to halt the token’s downward trajectory.

Internal Instability and Ongoing Investigations

Movement Labs has faced 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.

Learn more: $MOVE Token Under Fire As Co-Founder Controversy

Internal documents revealed that Movement Labs was misled into signing this deal, which allowed Rentech to facilitate a $38 million sell-off, exacerbating price volatility. Additionally, co-founder Rushi Manche temporarily stepped back amid the scandal, raising concerns about leadership stability, while co-founder Cooper Scanlon continues to lead the project.

The Movement Network Foundation has distanced itself from the market maker’s actions, claiming no prior knowledge of the misconduct, but these developments have fueled negative sentiment within the crypto community.

Wrap-up

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.

Furthermore, the delay of the anticipated MoveDrop airdrop event, intended to distribute 740 million tokens, has disappointed investors.

Another bad news that could happen to Movement Labs is that the World Liberty Finance gives 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 restore investor confidence.

At the moment, MOVE remains highly volatile, trading on exchanges like Binance and Upbit, but its future hinges on addressing these systemic issues and rebuilding trust within the crypto ecosystem. However, for the recent negative influence from $MOVE, the risk of delisting from major exchanges could not be undeniable.