The MOVE token, native to the Ethereum layer-2 network Movement, spiked 20% on Tuesday following a $2 million purchase by Donald Trump-backed World
Investors are showing strong interest in MOVE token, the native token of Ethereum layer-2 network Movement, after a recent $2 million purchase by Donald Trump-backed financial services firm World Liberty Financial.
According to blockchain data from Arkham Intelligence, the transactions were made on Tuesday morning U.S. time, and they sparked excitement among traders.
While MOVE did trim some of its gains throughout the day, it was still trading 13% higher at the time of writing.
This news comes amid reports that Movement is also in talks with Elon Musk's Department of Government Efficiency (DOGE).
Musk, who is aiming to cut federal expenses, is said to be exploring blockchain applications for tasks such as tracking spending and managing payments.
According to Bloomberg, DOGE has reached out to several blockchain teams, including Movement, sparking speculation about the network's role in future government operations.
As blockchain continues to gain traction in government discussions and high-profile investments like Trump-backed World Liberty Financial's MOVE token purchase make headlines, staying informed is key for investors.
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