Movement Crypto Shines as MOVE Spikes 40%: Here’s Why

[Redator]

MOVE crypto is among the top performers, adding 40% and breaking out from a descending channel. Movement Network Foundation completed the 10 million crypto buyback program.

Amid global uncertainty marked by unexpected escalations involving the United States, Israel, and Iran, the crypto market ticked higher, shaking off Sunday’s weakness.

Bitcoin, Ethereum, XRP, and Dogecoin registered gains as confidence grew that, despite missiles striking airbases in Qatar, the United States would not retaliate.

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MOVE Crypto Surges 40%

While attention focused on some of the best cryptos to buy in June, top-performing altcoins also gained traction.

Among them was MOVE7 (No data), the token powering the Ethereum layer-2 platform, Movement.

After posting sharp losses throughout Q2 2025, the token surged past critical resistance levels, gaining an impressive 40% against the greenback.

In the daily chart, MOVE crypto is breaking out from a descending channel, reversing losses from the past week. It is likely to print higher highs, setting the tone for further gains and even placing it among the next cryptos to explode.

If yesterday’s buyers remain active today, confirming gains, the token may surge above $0.18, erasing June losses and setting the stage for a strong Q3 2025. Notably, the June 23 breakout is with high volume, signaling trader interest.

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Additionally, the breakout formed a wide-ranging, bullish engulfing bar, reversing last week’s losses.

Although technical candlestick patterns favor buyers, fundamental factors will drive the pace of this growth.

The team is putting in efforts to enhance its reputation and rebuild investor confidence, propping up prices.

Why Is Movement Rallying?

On June 20, the Movement Network Foundation announced the completion of a 10 million MOVE token buyback.

Movement Network Foundation has completed a buyback of 10M $MOVE as part of our buyback commitment.

Here is the transaction:https://t.co/b8sZg7yLas

— Movement Network Foundation (@movementfdn) June 20, 2025

The program aimed to stabilize prices and restore investor trust following the 2024 events when its market maker was accused of manipulation.

This buyback follows the transfer of 500 million MOVE tokens to Binance in early May 2025 for the MOVE Launchpool Season 2 program.

We have just transferred 500m $MOVE tokens to Binance for Launchpool Season 2.https://t.co/SArYxpocis

— Movement Network Foundation (@movementfdn) May 6, 2025

The transfer and launchpool were seen as efforts to align with token holders and alleviate fears of delisting risks.

Notably, the Movement Network Foundation announced the Launchpool Season 2 program months after Binance froze $38 million in MOVE profits from Rentech, a market maker accused of dumping tokens and manipulating prices.

On December 10, Rentech dumped 66 million MOVE tokens a day after MOVE listed on Binance, causing prices to plummet from $1.45 to under $0.25.

NEW: @movementfdn signed a deal loaning ~50% of its circulating ecosystem supply to @Web3Port_Labs.

The day after MOVE debuted on exchanges, accounts linked to @Web3Port_Labs dumped 66M tokens, leading @binance to ban it.

@CoinDesk obtained the contracts and much more: pic.twitter.com/SDoonYcBro

— Sam Kessler (@skesslr) April 30, 2025

Binance intervened to protect MOVE traders and investors, freezing Rentech’s profits and banning the market maker from its platform.

The present recovery is a major relief for MOVE holders who faced a challenging first half of 2025, including a delisting from Coinbase in May 2025. The exchange cited failure to meet listing standards following the Rentech debacle.

In May 2025, Movement Labs suspended and later terminated co-founder Rushi Manche, alleging his role in brokering the Rentech deal.

Revealing attestation from the future:

rushi is fired from movement within the next 28 days for fraud or misconduct pic.twitter.com/5F81bn6dN0

— Cobie (@cobie) May 2, 2025

The developer claimed Manche blurred governance lines, raising potential securities regulation issues. As part of governance changes, Torab Torabi took over as CEO, while Young Yang Liauw now leads the engineering team.

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MOVE Crypto Spikes 40%: Why is Movement Rallying?

• MOVE Crypto break out from a descending channel 
• Movement Network Foundation completes a 10 million token buyback program 
• The team transferred 500 million MOVE to Binance for Launchpool Season 2 
• Movement made changes following events in early December 2024 

The post Movement Crypto Shines as MOVE Spikes 40%: Here’s Why appeared first on 99Bitcoins.