Coinbase to Suspend Movement (MOVE) Token, Here’s Why

Leading crypto exchange, Coinbase, has announced that it will soon stop supporting the Movement (MOVE) token on its platform. The announcement was shared earlier today on the company’s official account on X . While Coinbase did not give a detailed reason, the exchange said the token no longer meets its listing standards. MOVE’s Current Trading Status On Coinbase Coinbase has already made changes before the full suspension takes effect. As of now, MOVE trading is in “limit-only” mode. This means users can place or cancel orders, but only limited orders are allowed; there are no market orders. This step usually comes before a full trading stop. In the X post, Coinbase explained that it regularly monitors the assets on its exchange to ensure they continue to meet its listing standards. Last year, the exchange removed Decentralized Social (DESO) from its listing . This development reflects Coinbase’s strategy to reinforce its high standards for listed assets. Starting May 15, the MOVE token will no longer be available on Coinbase platforms, including Coinbase’s main app, Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime. Coinbase has not said whether this suspension is permanent. Users holding the token are advised to follow Coinbase and Movement Labs updates. MOVE Market Value Plunged MOVE is the Movement Network’s native token. It was launched in December 2024 along with the project’s mainnet beta. The project aims to improve blockchain speed and support developers. After the announcement, the price of MOVE dropped by about 20%, falling from $0.25 to $0.20. According to CoinMarketCap data, the token’s price has fallen by more than 16.73% in the last 24 hours. Movement Network Faces Internal Issues The token has already been under pressure for weeks. In mid-April, Movement Labs faced backlash over “market maker abnormalities.” At the same time, one of the company’s co-founders took a sudden leave of absence. These events raised questions about how the token’s price was being handled. There is also an ongoing investigation into a possible agreement that may have affected the price of the MOVE token. This may be one reason why Coinbase decided to act. Notably, Coinbase’s suspension of tokens like MOVE reflects a broader trend in the crypto industry. Exchanges are becoming more cautious about which tokens they list or keep available on their platform, especially after past issues with regulatory crackdowns and market manipulation. The post Coinbase to Suspend Movement (MOVE) Token, Here’s Why appeared first on TheCoinrise.com .

Source: The Coin Rise