Movement Labs: $100 Million Investment Achieved

user avatar

by Giorgi Kostiuk

2 years ago

Movement Labs, the company behind the layer 2 network on Ethereum named Movement, is close to completing a $100 million Series B funding round, Fortune reported.

Movement Labs' New Funding Round

After this latest funding round, the company's valuation is expected to reach approximately $3 billion. This round was led by CoinFund and Nova Fund, the digital assets arm of the Brevan Howard hedge fund.

Investors and Their Stakes

Sources indicate that the investing companies will receive both company shares and MOVE tokens in return for their funds. The focus of the participants in the round is primarily on the MOVE token rather than the shares.

MOVE Token and Its Current Status

Following the Series A round in April 2024, where Movement Labs raised $38 million led by Polychain Capital, the MOVE token, alongside Bitcoin, has undergone a significant decline. MOVE, which fell 11.4% in the last 24 hours, saw a slight increase with the investment news, but this increase was not sustained. At present, MOVE is trading at $0.92.

The investment highlights the interest in the MOVE token and the potential of Movement Labs' platform. However, market volatility continues to impact the token's price.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitwise Submits Updated Prospectus for XRP ETF Trust

Bitwise has filed an updated prospectus for its XRP exchange-traded fund trust on September 21, reflecting ongoing regulatory efforts.

user avatarMaya Lundqvist

New York Life Investment Management Partners with Centrifuge for On-Chain Bond Strategy

New York Life Investment Management has partnered with Centrifuge to tokenize a US high-yield corporate bond strategy on the Avalanche blockchain, allowing institutional buyers to use USDC for subscriptions and redemptions.

user avatarLeo van der Veen

ShredPay Partners with Jack Henry to Enhance Digital Asset Integration

ShredPay partners with Jack Henry to enable banks and credit unions to access stablecoin and digital asset services.

user avatarLi Weicheng

Strive Increases Bitcoin Holdings to 26,355 BTC

Strive has disclosed a purchase of 1,355 BTC, raising its total Bitcoin holdings to 26,355 BTC.

user avatarAisha Farooq

Broadcom Set to Gain from Alphabet's Custom TPU Sales

Broadcom is set to benefit from Alphabet's decision to sell custom TPUs to external data centers, enhancing its AI semiconductor revenue through a long-term agreement until 2031.

user avatarBayarjavkhlan Ganbaatar

Alphabet Enters Hardware Market with Custom TPUs for Data Centers

Alphabet announces the sale of its custom-made Tensor Processing Units (TPUs) to external data centers, marking a significant move into hardware sales.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.