MOVE Token Spikes 25% as Movement Introduces Strategic Reserve Following Market Manipulation Concerns

MOVE Token Skyrockets 25% as Movement Launches $38M Buyback Reserve Following Market Maker Controversy

Movement’s MOVE token surged over 25% during early Asian trading hours as investors reacted positively to the project’s newly announced $38 million buyback initiative, dubbed the “Strategic Reserve.”

The decision comes after a market maker allegedly violated contractual obligations by engaging in one-sided trading, pocketing $38 million in profits while failing to provide proper liquidity.

Despite MOVE’s strong rally, the broader crypto market remained relatively flat. The CoinDesk 20 (CD20) index showed little movement, while Bitcoin (BTC) and Ether (ETH) registered modest gains of less than 1%.

In a March 24 blog post, Movement Network confirmed that all funds recovered from the market maker would be allocated to the buyback program to stabilize MOVE’s liquidity and bolster long-term ecosystem growth.

“The Movement Strategic Reserve is our way of protecting the integrity of our market and ensuring that bad actors don’t dictate liquidity flows,” the team stated.

The controversy also drew action from Binance, which removed the offending market maker from its platform. Binance cited violations of its trading policies, stating that market makers must maintain balanced bid-ask orders, avoid disruptive trading behaviors, and ensure sufficient market depth.

“Projects working with market makers must uphold fair trading principles. Any deviation from these standards will result in strict measures to protect users,” Binance said.

Investors appear to have welcomed Movement’s intervention, with the price rally signaling renewed confidence in the project’s long-term stability.

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