NAIROBI (CoinChapter.com) - The Movement Network’s utility token, MOVE Coin, saw a surge of 55% just hours after its launch on December 9. The token powers the Movement Mainnet, an Ethereum second-layer network focused on improving transaction speed and security.

Movement Network Launches Mainnet and MOVE Token
The Movement Network Foundation launched the Movement Mainnet to address Ethereum’s scalability challenges. This second-layer network uses the Move Virtual Machine (MoveVM) to settle transactions with one-second finality.

MOVE Coin is at the core of the ecosystem, supporting decentralized finance (DeFi) applications and solutions for mobile devices. The beta launch of the network involves the deployment of key infrastructure, including RPC nodes and indexers, to ensure smooth operations.

According to Rushi Mande, co-founder of Movement Labs, Move's appeal lies in its secure architecture and high throughput. "Our overall view is that Move is a great language that is very secure, high throughput, but it needs a vibrant ecosystem and a loyal community," Mande said in an interview.

Strategic airdrops and listings drive market activity
The "MoveDrop" airdrop distributed 10% -1 billion MOVE of the token supply to early adopters. Allocations were received by qualified participants who participated in the testnet campaign, which generated strong interest from the market. An additional 1.25 billion tokens were allocated for community initiatives and the Movement Foundation, bringing the circulating supply to 2.25 billion tokens.

Exchanges such as Binance, Coinbase, and Upbit played a key role in the adoption of MOVE. Binance launched trading pairs such as MOVE/USDT and MOVE/BTC, ensuring liquidity. The token reached a market cap of $1.6 billion within 90 minutes of listing and traded $450 million. Subsequently, its market cap climbed to $3 billion, making it one of the top 100 cryptocurrencies by market cap.

The token’s use cases include automating interactions with DeFi protocols and smart contracts, enhancing the functionality of the Movement ecosystem. Its mobile-oriented approach aims to support broader Web3 adoption, especially in underserved areas with limited banking infrastructure.

MOVE Coin's rally reflects the market's strong interest in innovative Ethereum scaling solutions. The combination of airdrop activity, exchange listings, and ecosystem growth has made it a standout coin. The network plans to use 40% of the total supply for ecosystem rewards to incentivize future participation and development.