Binance News: Movement (MOVE) Surges After $38 Million Token Buyback Announcement

The cryptocurrency market has seen another significant move, this time with Movement (MOVE) experiencing a notable surge. Here’s a closer look at the latest developments surrounding MOVE and what they mean for the future of this layer-two Ethereum network.

Movement (MOVE) Defies Binance Fallout with $38 Million Buyback – Can it Overtake Solana?

Movement (MOVE) has surged by 16% in the past 24 hours after the Movement Network Foundation announced a $38 million buyback of MOVE tokens. The buyback program has increased bullishness for MOVE, with the foundation also announcing the creation of a strategic reserve. This implies more buybacks over time, which could help boost Movement as it aims to grow as a layer-two network for Ethereum. MOVE is currently up by 16.5% in a week and by 15% in a month, although it remains down by 63% from its ATH of $1.45 set in December.

Binance Coin (BNB) Rallies 13%: On Track For New Peak

The cryptocurrency market is experiencing another bullish trend. Bitcoin (BTC) has reclaimed the $88,000 price point, pushing the global crypto market cap back to $3 trillion. Binance’s BNB token is also recovering, up 13.4% in the 14-day charts. This rally is likely attributed to BTC’s reclaim of the $88,000 level, triggering a market-wide recovery. Additionally, the SEC dropping its litigation against Ripple may have contributed to the crypto market resurgence.