The movement token of the movement was the market leader during the morning negotiation hours of East Asia, more than 25%, according to Coindesk market data, since the market favorably reacted to the movement plan to create a strategic reserve.
Move is surpassing Coendesk 20 (CD20), a measure of the performance of the largest digital assets, which is negotiated. Market specialties such as Bitcoin (BTC) and Ether (ETH) have less than 1%.
In a blog post on March 24, Movement explained that he was creating the “strategic reserve” because they wanted to proactively rectify the interruption caused by the illegal actions of a market manufacturer, which breached the contractual obligations when carrying out unilateral market manufacturing activities and benefiting from $ 38 million without providing adequate liquidity.
“All cash revenues recovered from the market manufacturer will be used by the foundation of the movement network to establish the strategic movement reserve: a USDT $ 38 million program to buy $ MOVE for long -term use and return the USDT liquidity to the movement’s ecosystem,” the movement in a publication said.
As Coendesk previously reported, Crypto Exchange Binance eliminated the market manufacturer because he was making substantial sales orders without significant purchase orders, violating the rules of the exchange that require a balanced liquidity provision.
Binance said in a position that market manufacturers must make balanced orders of offers, have enough market depth, stable differentials and warn against disruptive high frequency negotiation practices.
“Any market manufacturer authorized by the project that does not comply or breach of these principles and rules, Binance will take more measures against such market manufacturers to better protect our users,” the exchange said.
