Movement Unveils Layer-2 Mainnet Beta with $830M MOVE Token Airdrop

Movement Network has officially launched its layer-2 mainnet beta, introducing the MOVE token to the crypto world with a significant $830 million airdrop for early users. This milestone event, known as the “MoveDrop,” marks the next step in Movement’s mission to enhance Ethereum scalability through its cutting-edge platform.

The airdrop allocated 1 billion MOVE tokens—10% of the total supply—to users who completed transactions and quests on the Movement testnet. Alongside this, 1.25 billion MOVE tokens (12.5%) were unlocked for the Movement Network Foundation and various community initiatives, creating an initial circulating supply of 2.25 billion MOVE tokens (22.5% of the total supply).

Top-tier exchanges, including Coinbase and Binance, have already enabled MOVE trading. The token surged to $0.838 shortly after its release and currently trades at $0.726. At this price, MOVE ranks #82 in CoinGecko’s market cap rankings, with a valuation of $1.63 billion.

“Mainnet beta launch and MoveDrop are about empowering developers and users to shape the future of Ethereum scaling,” said Cooper Scanlon, co-founder of Movement Labs. He emphasized the network’s open invitation to developers, content creators, and governance participants to join its growing ecosystem.

Looking ahead, 40% of the MOVE token supply has been reserved for ecosystem and community rewards, while 17.5% is allocated to early contributors and 22.5% to Movement’s early backers. Early claimants will initially receive MOVE as an ERC-20 token on Ethereum, with the option to unlock a 1.25x multiplier by waiting for the public mainnet launch.

Movement, built using the innovative Move programming language, leverages modular and configurable rollups to enable secure, application-specific blockchains. Its mainnet beta officially launched on December 5, signaling a bold step forward in Ethereum’s scalability solutions.