While almost the entire crypto market is currently struggling and the trade in Red Movement Network (Move) has succeeded in rising almost 12% in the last 24 hours. This sudden rally comes when the Movement Network Foundation launched its Movement Public Manet Beta, which increased investor confidence.
Move Surge after the launch of the mainnet beta launch
On March 10, the Movement Network Foundation introduced its Movement Public Manet Beta and marked a big step forward for the project. This is the first block -based block that connects to Ethereum, making it easier for developers to launch smart contracts without limitations.
https://twitter.com/Movementlabsxyz/status/1899127928723853681
Experts believe that when the AO beams of an assets turn green, this shows less sales pressure and stronger buying momentum. This has led to conversations that the movement could continue to rise in the coming days.
In the meantime, the launch has increased interest in movement, which has increased the trade volume to $ 372 million, a leap of 18% in just 24 hours. The network also started strong, with a locked value of $ 250 million, which led to good liquidity and usability from the first day.
ETF archives can be institutional interest
Add to the excitement, assets management companies Trex and Osprey funds have A stock market -related fund requested (ETF) focused on movement. If approved, this ETF would enable institutional investors to get regulated exposure to token, which may send more demand.
Move the price momentum
From now on the move token is act on $ 0.50slightly above his key resistance at $ 0.48. However, token was recently broken from a central trend of a month, which indicates the possibility of a new bullish trend.
Move is currently moving within a tight reach, but an outbreak can soon push its price to $ 0.70. If the momentum stays strong, the movement can continue its upward trend and possibly reach $ 1 next month.
However, if a profit increases, it might have difficulty retaining its profits and it can even come back to its low of $ 0.37.
