- Coinbase will suspend MOVE trading on or around May 15, citing listing standard checks.
- MOVE’s price dropped nearly 20% after the delisting news hit the market.
- The project recently faced controversy involving market maker issues and a co-founder stepping away.
Coinbase is planning to suspend trading for Movement (MOVE), with the delisting expected to happen “on or around” 2 p.m. ET on May 15. No clear reason was given for the removal, but the exchange did mention it regularly checks assets to make sure they still meet its listing standards.
In the meantime, Coinbase switched MOVE’s order books into limit-only mode. So, traders can place or cancel limit orders, but market trades are off the table for now.
No Direct Explanation, But the Price Reacted Fast
Coinbase hasn’t exactly said what went wrong, but judging by the statement, something must’ve raised red flags. MOVE’s price dropped almost 20% after the news — sliding from around $0.25 to $0.20, according to data from The Block.
Some Background Drama
This isn’t the first sign of trouble. Back in mid-April, Movement Network was caught in controversy after reports of “market maker abnormalities.” Around the same time, the project’s co-founder took a leave of absence. That timing definitely raised a few eyebrows.
Keep in mind, Movement only rolled out its mainnet beta and native token in December 2024. So yeah, it’s still early days — but not exactly the smoothest start.
4o
