Movement Network Foundation, the organization behind Movement Altcoin, has announced the repurchase of a total of 180 million mobile tokens. The coin was purchased at an average price of $0.21, the statement said.
This means that a total of $37.8 million has been paid for these coins.
Announcing the completion of the buyback process, the foundation said these mobile tokens will be distributed among three main areas for the development of the ecosystem.
- On-Chain Fluidity
- Ecosystem Initiative
- Developer Program
The Movement Network Foundation said it will use these coins to support communities and developers who play an important role in building an ecosystem. Detailed plans are expected to be announced in the coming days.
Move’s market capitalization was approximately $384.47 million, down 3.15% over the past 24 hours. Meanwhile, trading volumes rose 25.52% to $6664 million over the same period. Currently, the travel, which has a supply of up to 10 billion coins, is currently held in 35,580 wallets.
Moving came to the fore in the cryptocurrency market a few months ago. There were allegations that some of the executives were engaged in market manipulation.
*This is not investment advice.
