- Coinbase will suspend MOVE token trading on May 15 due to failure to meet listing standards, causing a 20% price drop in hours.
- MOVE token faces ongoing challenges after market manipulation and misconduct, with the Movement Foundation taking steps to restore liquidity.
- Leadership instability and increasing regulatory scrutiny are raising concerns over MOVE’s future, despite its technical advancements and ecosystem efforts.
Coinbase will suspend trading for Movement (MOVE) across all its platforms on May 15 at 2 p.m. ET. The decision affects Coinbase.com, Advanced Trade, Coinbase Exchange, and Coinbase Prime, where MOVE order books have now been shifted to limit-only mode.
In a post by Coinbase Assets on X, the company stated, “We regularly monitor the assets on our exchange to ensure they meet our listing standards.” The firm emphasized that limit orders can still be placed and canceled, though market orders are currently disabled.
Strategic Response to Market Maker Misconduct Amid Sharp MOVE Price Breakdown
MOVE’s listing issues trace back to a major controversy involving market manipulation. A market maker liquidated 66 million MOVE tokens after its mainnet beta launch in December, profiting $38 million in USDT and destabilizing price discovery.
This action follows a steep drop in MOVE’s price, falling nearly 20% from $0.25 to $0.20 within hours of the announcement. The token’s market capitalization currently sits at approximately $505.9 million, down sharply from its earlier levels.
The Movement Network Foundation and developer Movement Labs responded by severing ties with the entity in question. They later initiated a third-party investigation and created a “Movement Strategic Reserve” worth 38 million USDT to restore liquidity and rebuild trust in the ecosystem.
Coinbase’s decision follows a broader pattern of scrutiny after Binance delisted the same market maker in March, citing “misconduct.” Shifting liquidity patterns introduce additional considerations as major exchanges tighten controls on listed assets tied to questionable trading behavior.
Leadership Turmoil and Regulatory Overhang
Leadership instability has added to the MOVE token’s uncertain trajectory. Co-founder Rushi Manche took a temporary leave in April after denying insider trading tied to a $2 million token purchase by World Liberty Financial earlier this year.
This new alignment alters the competitive landscape for MOVE, which has struggled to maintain investor confidence despite technical milestones. Regulatory pressures are intensifying as centralized exchanges revisit asset qualifications and compliance frameworks under growing public and institutional scrutiny.
