The Movement Foundation Network has had two major developments recently. First, the filing of an exchange-traded fund (ETF) focused on $MOVE by REX-Osprey and a successful launch of its Public Mainnet Beta with $250M in Total Volume Locked (TVL).
The proposed ETF, if approved, would be the first one to provide a traditional market access to $MOVE. This will allow the investors to explore the Movement ecosystem through these regulated financial products.
The reason behind filing this ETF is simple, to bridge the gap between traditional finance and blockchain industry without having the investors to manage the token directly.
Experts Chime In
“This filing represents a historic moment not just for Movement, but for the entire Move landscape. Breaking the pattern of ETFs limited to long-established cryptocurrencies opens doors for institutional capital to support next-generation blockchain innovation.” said Rushi Manche, Co-Founder of Movement Labs.
Cooper Scanlon, Co-Founder of Movement Labs added “Traditional investors have expressed keen interest in gaining regulated exposure to emerging blockchain technologies without directly managing tokens. This ETF represents the convergence of innovative financial products with cutting-edge blockchain architecture.”
Movement Network’s Public Mainnet Beta Launch
Moreover, along with this announcement, the Network has also announced its Public Mainnet Beta launch. The network debuted with $250M in day-one liquidity from its Cornucopia program, providing immediate utility and enabling permissionless smart contract deployment.
Built using MoveVM technology, the network does emphasizes security and efficiency while offering Ethereum settlement and cross-chain compatibility via LayerZero.
The Public Mainnet Beta encourages users and developers with full access to blockchain’s decentralized ecosystem. It supports secure application development while making sure seamless user onboarding through its canonical bridge.
These developments has had a positive effect on the price of the $MOVE token. According to CoinGecko, in the past hour, the token has experienced a surge of 9.1%.
At press time, the price of the token stands at $0.5225 with a surge of 4.0% in the last 24 hours. The price is expected to surge within the next few hours.
Also Read : Thailand SEC Recognizes Tether’s USDT as Approved Cryptocurrency
