MOVE Airdrop Surge: Is 2025 the Year of Massive Crypto Rewards?

The native token of the layer-two Ethereum network, Movement, has delivered significant gains to investors eligible for its airdrop on December 9.

Within the first 24 hours, the token’s price rose from approximately $0.70 to over $2 on the day following the airdrop.

Although the price has since settled above the $1 mark, $MOVE is still producing a 59% return since its launch, according to data from CoinMarketCap.

It’s been two weeks since $MOVE TGE!
So far, the vast majority of people have opted to claim $MOVE on Movement Public Mainnet.
This accounts for about $314M (so far).
What a big two weeks! Many more coming pic.twitter.com/rcSZHJVeNw

— Movement Network Foundation (@movementfdn) December 23, 2024

Its success has been primarily aided by Binance’s support of the project and the decision from other major crypto exchanges, such as Coinbase, to enable MOVE trading on their platforms.

Movement’s market cap currently stands at $2.36 billion, while its trading volume sits at $800 million, representing a third of its market cap in the past 24 hours. During its launch, trading volumes surged to a staggering total of $6.34 billion.

The MOVEDrop, as the event was called, allocated 10% of the token’s total supply to early adopters and die-hard supporters of the protocol. Meanwhile, 22.5% of its supply went to early investors who participated in its presale in April of this year.

The maximum supply of the token is 10 billion, of which approximately 2.25 billion are currently in circulation. This means that as additional tokens are released, the project’s market cap could rise provided the price holds.

The Movement network aims to solve the scalability issues that have prevented the Ethereum network from becoming the preferred smart contracts network for developers.

The project simplifies the structure of smart contracts used for basic tasks, such as transferring or minting assets, to increase the number of transactions per second (TPS) that can be processed on the Ethereum blockchain.

MOVE Stabilizes and Begins Upward Movement Again

The crypto market has been recovering from the pullback it experienced shortly after the Federal Reserve made hawkish comments regarding its monetary policy and outlook for inflation in the United States.

Although the price of MOVE collapsed to around $0.60 just nine days after its airdrop, it has been progressively recovering to the $1 level and has made two higher highs along the way since December 21.

The chart above indicates that the price action has formed an ascending price channel, a formation that indicates the prevailing trend’s direction is upward.

The $1.2 mark is currently the most relevant resistance to overcome based on this 1-hour chart. It is worth noting that the Relative Strength Index (RSI) exhibited a bearish divergence during the latest price increase.

However, that signal may have already exhausted its expected outcome, which means that MOVE could soon make another push toward this area of resistance.

Trading volumes at the moment are significantly lower than they were after the airdrop. Investors should keep track of how the demand for the token behaves in the following days, as a push above $1.2 accompanied by volumes exceeding approximately $1.5 billion may indicate that traders are ready to take the token to new heights.

Favorable market conditions following Donald Trump’s victory, combined with analysts’ opinions that altcoin season could be about to start, are considered a tailwind for crypto projects that have been waiting for the right time to launch their corresponding airdrops.

The success of the MOVE airdrop could pave the way for other projects, such as the Solana-based meme coin minting platform Pump.fun and the decentralized social media platform Farcaster.

This Solana Layer-Two Project Has Already Raised $6M from Investors During Its Presale

The $MOVE airdrop was quite profitable for investors who poured money into the project at an early stage. However, identifying and participating in presale events is often reserved for deep-pocketed investors.

This is not the case for Solaxy, a layer-two Solana protocol that aims to solve the congestion issues that have prevented the network from surpassing Ethereum as the go-to smart contracts blockchain in the crypto space.

Solaxy’s goal is similar to Movement’s. It aims to reduce network congestion by bundling transactions offline to alleviate the mainnet.

In just a few days, the Solaxy presale has raised $6.2 million from investors, as its value proposition has already proven successful in other instances.

Its utility token, $SOLX, is being offered at a discounted price of $0.001582, but the offer will expire in less than 40 hours.

Perhaps you missed the $MOVE airdrop, but you can still take part in this appealing presale event that could deliver 10X gains to early investors once the token is listed on major exchanges.

To buy $SOLX, visit the official website of Solaxy and connect your wallet. You can convert ETH, USDT, or BNB tokens or use a bank card to complete your purchase.

Once the presale ends, these tokens will be deposited in your wallet automatically.

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