$Move Token has recently seen a huge dump due to malicious activity from municipal agencies, internal teams, and the malicious activity sold out from Web3Port Labs in December 2024.
$ has been reduced by over 80% since Ath
Local tokens for the sports network, movehas experienced a pretty decline, falling over 80% from its ATH of $0.25, with current prices hovering around $0.19-$0.25 as of May 2, 2025. This significant erosion in value was exacerbated by a critical development on May 1, 2025, when Coinbase, a leading cryptocurrency exchange, announced the suspension of MOVE trading effective May 15, 2025, citing the token’s failure to meet its listing standards.
Learn more: What is sports?
Following the announcement, Move’s price fell by about 14%-20% in a matter of hours, reflecting an increased market uncertainty and investor concerns about instability in sports lab operations. The decision, coupled with ongoing controversy, reviewed the project and resulted in a decrease in its market confidence.
$ drops significantly in 3 months – Source: Coingecko
Key factors leading to decline
Total plug-in trading suspension and listing standards
Coinbase’s decision to suspend mobile trading stems from a conventional review that determines that the token no longer meets the exchange’s strict listing standards.
The shift in “restriction mode only” on the Coinbase platform that takes effect immediately limits transactions to specific price levels, further limiting liquidity.
The move follows a volatile pattern of price movements and evidence of insider profitability, which undermines the credibility of the token. The damage from the suspension was particularly hurt given Coinbase’s huge market influence, with the token price dropping to an all-time low of $0.18 to $0.20 after announcing, followed by a smaller rebound to $0.25.
Market manipulation scandal involves market makers
The main catalyst for the decline in Move was the market manipulation scandal discovered in March 2025, which means market makers related to sports labs. Binance is the largest cryptocurrency exchange with the largest trading volume, banning sellers (referred to as Web3Port or its member Rentech) because it moved tokens on December 10, 2024 (about 5% of the total supply) after dumping 66 million Move Moving Sokens (about 5% of the total supply) on December 10, 2024.
The sold-out value was $38 million and executed with minimal buy support, triggering a sharp price crash and proposing allegations of price manipulation. The agreement incentivizes artificial price inflation to achieve a $5 billion valuation, criticized by industry experts as “dangerous” and immoral, further eroding investors’ trust.
Binance then frozen market makers’ profits and worked with the Movement Lab and the Sports Network Foundation to launch a $38 million token buyback program to stabilize prices, although the measure failed to stop the token’s downward trajectory.
Internal instability and ongoing investigations
Sports Labs face significant internal challenges, including allegations of mismanagement and conflict of interest. A third-party survey launched by independent cybersecurity company Groom Lake on April 21, 2025 is examining a marketing agreement that grants Rentech disproportionate control over Move’s token supply.
Learn more: Controversy as a co-founder
Internal documents show that the Sports Lab was misled to sign the deal, which allowed Rentech to facilitate a $38 million sell-off, exacerbating price volatility. Additionally, co-founder Rushi Manche took a temporary step back in the scandal, raising concerns about leadership stability, while co-founder Cooper Scanlon continues to lead the project.
The Sports Network Foundation has distanced itself from market makers’ actions, claiming that it has no knowledge of misconduct, but these developments have promoted negative sentiment within the cryptocurrency community.
wrap up
Coinbase’s trading is suspended, and the combination of market manipulation scandal and internal governance issues has seriously undermined Move’s market position.
Although prices briefly rose 25% in late March 2025 after the announcement of strategic reserves, the token is still working to recover from the 80% drop since ATH. The project’s initial commitment, backed by prominent investors such as Polychain Capital and Binance Labs, and its $400.4 million in funding, was overshadowed by these controversies.
Additionally, the expected delay in MoveRop Airdrop activity aims to distribute 740 million tokens, which disappoints investors.
Another bad news that may happen to Sports Labs is that World Free Finance abandons $mobile supply in its portfolio, resulting in a long-term instability of tokens.
As the Sports Laboratory navigates during this turbulent time, the effectiveness of ongoing third-party investigations and buyback programs is crucial to determine whether the project can restore investor confidence.
Currently, Move is still very volatile, trading on exchanges like Binance and Upbit, but its future depends on solving these systemic problems and rebuilding trust in the crypto ecosystem. But, for $Move’s recent negative impact, it is undeniable that the risk of standing out from the main exchange is undeniable.
