Developers of This Altcoin Sent a Total of 500 Million Tokens to Binance for an Airdrop Distribution

Movement (MOVE), perhaps one of the most controversial altcoins of recent days, announced in its official statement that it sent 500 million MOVE tokens to the cryptocurrency exchange Binance to be distributed to users via a Launchpool.

MOVE, an altcoin listed on major cryptocurrency exchanges such as Binance, Upbit, and Coinbase, recently came to the fore with allegations that a market maker artificially inflated the token’s price ahead of its launch, as well as an investigation into its developers.

MOVE has fallen by 50% in the last month due to the impact of the allegations, and its market value has dropped to around $400 million.

Launchpool, which has not yet been announced by Binance, will actually be the second Launchpool event for this token. At the time of the launch, MOVE was also launched with a similar event.

The first event was distributed only to users who held BNB through the Binance HODLer Airdrop program. The second event is likely to be the same.

The value of the 500 million MOVE tokens to be distributed is $84 million at the time of writing, which means that a significant amount of tokens will be unlocked compared to the total market value.

*This is not investment advice.