Movement (MOVE) L1 Strong rebound after independence: Ecosystem partnerships and buyback plans drive growth

Cryptocurrency Movement (MOVE) has experienced a strong price rebound after completing the transition from Ethereum Layer 2 (L2) to a fully autonomous L1 blockchain. According to the latest data, MOVE has increased by 0.57% in the past 24 hours, with a current trading price of $0.02 and a daily trading volume of $111.39K. This rebound marks a significant technical breakthrough after a prolonged downtrend, demonstrating real momentum driven by fundamental developments.

Ecosystem DeFi Partnerships and Buyback Plans Support L1 Project Growth

Movement’s independence as an L1 is not only a major technical upgrade but also brings notable ecosystem activity. On-chain data shows that Movement has established partnerships with over 10 DeFi applications, which inject funds into Movement through ecosystem fees. These revenues are allocated to the MOVE token buyback program, further reducing circulating supply.

A key example is the integration with LayerBank. LayerBank launched its native token ULAB on Movement’s L1, bringing approximately $2.3 million in capital inflow, highlighting the platform’s appeal to DeFi applications. Such protocol-level collaborations indicate that Movement, as an independent L1 blockchain, is building a genuine DeFi ecosystem.

On-Chain Data Validation: Active Users and Transaction Volume Growing in Tandem

From on-chain metrics, Movement’s activity has significantly increased compared to last year. Monthly active addresses have grown by 17%, reaching 21,400, according to Token Terminal data. As of now, Movement Explorer reports nearly 570,000 accounts created, with 28,837 smart contracts deployed by 4,710 developers.

More notably, transaction activity has surged. In just two days, the average daily transactions on the MOVE network increased from 50,900 to 84,900. This growth has pushed the monthly total to 2.8 million transactions, confirming substantial on-chain activity following the L1 transition. The simultaneous rise in these on-chain indicators provides solid fundamental support for the recent price rebound.

Technical Breakthroughs and Ongoing Challenges: Can the L1 Maintain Its Uptrend?

From a technical perspective, MOVE broke above a downtrend line that had persisted for over two months on the hourly chart. This downtrend had been suppressing price since dropping from a high of $1.50 on December 25, 2024. Although the price rebounded over 51% from that high, it soon faced selling pressure.

Currently, MOVE finds support around $0.02. To confirm an uptrend, the price needs to break above the key resistance at $0.06. On the hourly chart, the MACD indicator still shows bearish momentum, and the Cumulative Volume Delta (CVD) remains negative at around $8.35 million, indicating that short-term rebound activity is still dominated by selling.

Despite signs of bullishness in the past day, sellers have not relinquished control. While the project remains in a bearish environment, the year-long decline has begun to show early signs of reversal. Confirmation of a sustained uptrend will require clearer market structure changes on higher timeframes.

Summary

After completing its independence as an L1, Movement (MOVE) is demonstrating clear growth momentum driven by DeFi ecosystem collaborations, token buyback plans, and increasing on-chain activity. Although technical indicators still show selling pressure, the fundamental and on-chain data suggest that this L1 project is gradually building real ecosystem value. Whether the price can sustain its upward trend remains to be confirmed over larger timeframes.