Quickly understand the history and background of various well-known coins

"Trump-Backed Crypto Project Boosts MOVE Token Price by 15% in Major Purchase"

Coin WorldTuesday, Jan 28, 2025 3:55 pm ET

1min read

MOVE, the native token of Movement Network, experienced a significant surge in price, rising by more than 15% following a substantial purchase by World Liberty Financial, a cryptocurrency project reportedly backed by former U.S. President Donald Trump. The price of MOVE jumped from around $0.71 to over $0.88, with the market reacting positively to World Liberty Financial's latest acquisition.

World Liberty Financial's purchase, conducted through stablecoin swaps on CoW Protocol, involved approximately $2 million worth of MOVE tokens. According to Spot On Chain, the transaction saw 1.88 million USDC (USDC) exchanged for 2.398 million MOVE tokens, with an average price of $0.784 per token. Following the purchase, the total value of MOVE tokens held by World Liberty Financial reached approximately $1.97 million.

This recent price surge for MOVE comes on the heels of the Movement Network Foundation announcing the launch of its Developer Mainnet. The public mainnet, a key milestone in the platform's journey, follows the initial release in December and paves the way for the expected public beta release in mid-February.

World Liberty Financial's MOVE purchase is part of a broader buying spree over the past week, during which the project reportedly spent over $222 million on seven different tokens. These purchases include $129.95 million worth of ETH, $66.8 million of WBTC, and $10 million of TRX. Additionally, World Liberty Financial acquired $4.7 million worth of tokens from Aave, Athena, and Chainlink.

Data from Arkham Intelligence indicates that World Liberty Financial currently holds over $391 million in various cryptocurrencies, reflecting the project's significant influence in the market.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.