The MOVE price has surged over 15% today following developments that present a bullish outlook for the crypto. One such development is that Movement, the coin’s native network, is among firms discussing blockchain use with Elon Musk’s team.
Why The MOVE Price Has Surged Over 15% Today
The MOVE price has surged over 15% following reports that Movement, the network behind the token, is among firms that are discussing blockchain use with Elon Musk’s Department of Government Efficiency (DOGE) team.
CoinGape has reported that Elon Musk’s DOGE Department is eyeing the use of blockchain technology for government efficiency efforts. The department looks to be forging ahead with these plans, considering that firms like Movement are already in talks with the team.
Movement’s discussion with Musk’s DOGE is bullish for the MOVE price, considering how it could lead to wider adoption of the crypto token.
Meanwhile, MOVE has also surged due to Donald Trump’s World Liberty Financial purchase of the crypto token. Arkham Intelligence data shows that the DeFi platform bought 2.398 million MOVE for $1.94 million. This continues the accumulation trend by World Liberty Financial, which has bought several altcoins since Trump took office.
Rushi Manche, the co-founder of Movement Labs, commented following these developments. Regarding World Liberty Financial’s purchase, he said,
We are proud to be the first altcoin, first modern blockchain platform, and first alternative vm under the new administration. MOVE is Made in America.
Meanwhile, in another X post, Manche hinted that he and his team were indeed in discussion with Elon Musk’s DOGE, as he reacted to reports around this development.
Another Bullish Fundamental
Another reason why the MOVE price has surged today is because the Movement network developer mainnet just launched. Per the announcement, this marks the beginning of the second phase of the Movement network launch plan.
Now, developers can start deploying on the blockchain network. The new features that come alongside this launch include core infrastructure deployment, technical docs and dev resources release while select teams can start deploying applications. This developer mainnet is slated to last until mid-February.
The post Here’s Why The MOVE Price Has Surged Over 15% Today appeared first on CoinGape.
