Key Points

This new funding round would value Movement around $3 billion, Fortune reports.
On December 9, Binance listed MOVE with a Seed Tag applied after announcing it as the third project on the Airdrops Portal.

Movement Labs is reportedly close to wrapping up a Series B funding round with a target of $100 million. This latest achievement would value Movement around $3 billion, according to sources close to the matter, quoted by Fortune.

Movement Labs is a San Francisco-based software developer team that is building an L2 blockchain on Ethereum.

Movement’s Funding Round to Close This Month

According to the same report, the latest funding round will be co-led by CoinFund and Nova Fund, part of hedge fund Brevan Howard’s digital assets arm. Also, it’s been revealed that investors would receive a combination of equity and Movement’s token MOVE which was launched in December.

This new funding round is expected to close by the end of January, but representatives from the funding round participants did not reportedly comment on the matter.

Fortune also revealed that Movement raised $38 million in a Series A funding round back in April 2024. Back then, the action was led by Polychain Capital, and other top blockchain-focused investors including Hack VC, dao5, and Robot Ventures.

The publication also noted that Movement’s founders, Rushi Manche, and Cooper Scanlon, said that the project’s structure would allow devs to use the programming language while benefiting from Ethereum’s ecosystem.

Movement’s Core Innovations

The project’s core innovations are the following:

Move-EVM Compatibility – an innovative layer allowing devs to deploy high-performance rollups and dApps that leverage Move’s security and Ethereum’s liquidity.
Move Programming Language – designed for high safety and efficiency.
Smart Contract Security – with built-in safeguards to address risks including reentrancy attacks, and unintended asset application.
Fractal Interpreter – enabling Solidity contracts to compile on MoveVM, allowing interoperability between Move and EVM apps.
Fast-Finality Mechanism – a rapid transaction finality protocol that offers confirmations in seconds.

MOVE Price Trajectory Since December Launch

Last month, Binance announced Movement as its third project on the Airdrops Portal and also listed the MOVE token on December 9th with Seed Tag applied.

The next day after listing, on December 10, MOVE reached a significant market cap above $2.3 billion.

After a period of cooling down, MOVE recorded another price surge that took the coin’s market cap above $2.7 billion on December 26 when it reached $1.2, its ATH.