Motion (MOVE) has surged by 16% previously 24 hours, with its rise to $0.527 coming after the Motion Community Basis introduced a $38 million buyback of MOVE tokens.
MOVE is now up by 16.5% in per week and by 15% in a month, though it stays down by 63% from its ATH of $1.45, which it set in December.
The buyback program has elevated bullishness for MOVE, with the coin’s basis additionally asserting that it’s going to start a strategic reserve with the preliminary buyback.
This suggests extra buybacks over time, one thing which might assist increase Motion and its native token because it goals to develop as a layer-two community for Ethereum.
Motion (MOVE) Defies Binance Fallout with $38 Million Buyback – Can it Overtake Solana?
Motion’s buyback has emerged in response to Binance shutting down a MOVE market maker which appeared to have engaged in market manipulation.
This shutdown came about on March 11, having a unfavorable impact on MOVE’s value, which dutifully fell from $0.50 to $0.42 on March 24.
$38M MOVE Token Buyback Amid Market Maker Scandal!
Motion Community is launching a $38 million buyback of its MOVE tokens following a market maker's breach of contract. The buyback goals to stabilize the token's worth and restore investor confidence after the market maker… pic.twitter.com/9MMGunhmFL— MrPersonalTrader (@MPersonalTrader) March 25, 2025
This was the date when the Motion Community Basis introduced its buyback program, which it’s conducting with the $38 million Binance has recovered from the banned market maker.
As we are able to see from its chart at this time, it loved a giant surge in momentum following this information, with its relative power index (purple) capturing as much as 80 yesterday.
Such a studying is often signal of an overbought market, but probably probably the most bullish function of MOVE’s chart is its 30-period shifting common (orange), which is about to climb over the 200-period common (blue).
On condition that the shorter time period common has spent greater than two months beneath its long run counterpart, its forming a golden cross ought to sign a sustained interval of positive aspects.
Certainly, MOVE’s quantity has shot as much as its highest degree in almost three months, as traders race to build up the token earlier than the buyback program kicks in.
The important thing element of the Motion Community Basis’s announcement was that will probably be utilizing the recovered MOVE “to ascertain the Motion Strategic Reserve.”
The existence of such a reserve would indicate that the Basis might be periodically shopping for up MOVE, past the preliminary $38 million.
2 hours in the past, @movementfdn's Strategic Reserve Pockets acquired 10M $MOVE value $5.47M from #Binance.@movementfdn has introduced a $38M buy-back of $MOVE over the following 3 months after recovering funds from a market maker accused of misconduct on @binance.
Deal with:… pic.twitter.com/4Pjbi4O87B— Onchain Lens (@OnchainLens) March 25, 2025
This might assist help the token’s value in the long term, with the coin additionally benefitting from some very strong fundamentals as an EVM-compatible layer-two community that makes use of the MOVE programming language.
It might return to $0.60 within the subsequent few weeks, earlier than hitting $1 once more by H2.
A New Layer-Two For Solana – 2025’s Greatest Play?
Transfer is considered one of a number of promising networks harnessing the Transfer programming language (e.g. Sui, Aptos), but it’s not the one new layer-two community attracting consideration in the mean time.
One different sturdy instance is Solaxy (SOLX), a layer-two community for Solana that has now raised a really spectacular $28 million in its ongoing presale.
Rollup Efficiency
• Rolling out key optimizations to deal with extra transactions in much less time.
• Collaborating with Sovereign on a brand new caching mechanism to streamline processing.
• Refining serialization and deserialization to chop down on overhead.
Bridge UI
•…— SOLAXY (@SOLAXYTOKEN) March 26, 2025
As an L2, it’ll allow Solana customers to keep away from failed transactions and delays, which proceed to impression the layer-one community, regardless of enhancements previously couple of years.
It should additionally provide quicker transactions and decrease charges than its guardian chain, with which it’ll additionally present immediate bridging.
SOLX will function the fee token for transaction charges, whereas holders will even have the ability to stake it for a passive revenue.
As such, it might expertise sturdy demand as soon as it launches, with its value rising in parallel with Solaxy’s development.
Buyers can nonetheless be part of its sale by going to the official Solaxy web site, the place SOLX is promoting at $0.001674.
This value will rise once more later at this time, and can proceed to rise till the sale ends.
Patrons ought to, due to this fact, act rapidly, with SOLX heading in the right direction to have a giant itemizing.
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