Movement Network’s (MOVE) Token Surges After World Liberty Financial Acquires $2M Worth of Tokens

Movement Network's native token, MOVE, surged after World Liberty Financial, a crypto project reportedly backed by Donald Trump, acquired additional MOVE tokens

Crypto project World Liberty Financial, which is reportedly backed by former United States President Donald Trump, has acquired around $2 million worth of Movement (MOVE) tokens.

Following the purchase, the price of MOVE surged from around $0.71 to over $0.88, registering an increase of more than 15%. At the time of writing, MOVE was trading at approximately $0.80, still up by 13% and ranking among the top-performing tokens of the day.

The purchase was made on Jan. 28 and involved swapping stablecoins for MOVE tokens on the CoW Protocol, according to data from Spot On Chain. The Trump-backed DeFi project used 1.88 million USDC (USDC) to acquire 2.398 million MOVE tokens, completing the transaction at an average price of $0.784 per token.

The purchase brought the total value of MOVE tokens held to $1.97 million at the time of writing.

Interestingly, Movement price also experienced an upside bump after the Movement Network Foundation announced that the project’s Developer Mainnet was now live. The public mainnet follows Movement’s initial release in December and marks a key step in the platform’s journey towards the public beta release, which is expected in mid-February.

World Liberty’s latest MOVE purchase is part of a larger buying spree over the past week. The project has reportedly spent over $222 million on seven tokens, according to Spot On Chain. These purchases include $129.95 million worth of ETH, $66.8 million of WBTC, and $10 million of Tron’s TRX. Additionally, World Liberty acquired $4.7 million worth of tokens from Aave, Athena, and Chainlink.

Data from Arkham Intelligence indicates that World Liberty Financial currently holds over $391 million in various cryptocurrencies.