Welcome to the first edition of the Movement (powered by Move Industries) Overview, a monthly deep dive into the Movement ecosystem that explores the network’s latest developments, metrics and more. All in one place.
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Movement Metrics
Daily transactions: 44K
Total Value Locked: $209.87M
Movement stablecoin market cap: $42.78M
Number of Movement Regional Hubs: 8
The metrics are accurate at the time of publication.
What Caught Our Eye This Month
Stablecoin infrastructure company Fireblocks added support for Movement, bringing its institutional-grade platform to the network for custodial wallets, market maker support and staking.
Move Industries CEO Torab Torabi delivered a SmartCon keynote arguing that RWAs are broken in their current form. Movement’s solution: a mobile-first L1 blockchain that abstracts complexity and targets the Global South, making crypto accessible to millions of everyday users worldwide.
Movement Monthly
Move Industries (formerly Movement Labs) began as an L2 experiment, but has since transformed into a sovereign layer-1 (L1) blockchain that competes with the Ethereum Virtual Machine and Solana Virtual Machine ecosystems with its parallel execution and asset-oriented design that enables real-world use cases.
“Initially we were going to settle on Ethereum, write our DA on Celestia, and use Tendermint consensus and become this hodgepodge Frankenstein chain where everyone would love us,” Move Industries CEO Torab Torabi said recently on the Talking Tokens podcast. “But then we looked at it and thought to ourselves that eight-second latency is not feasible for what we wanted to build.”
The team chose to pivot, abandoning layer-2 (L2) constraints for full L1 sovereignty; they dropped Ethereum settlement, and scrapped plans to build a Solidity compatibility layer following security concerns and builder feedback. “Most EVM teams told us they’d rather rewrite in Move anyway,” Torabi explained.
Today, Movement envisions a future where people can send money to each other freely, no matter where they are in the world. With its mobile-first design, global onboarding hubs, and a learning hub dubbed “Move University” for training developers, Movement says it is building “The People’s Chain.”
“We’re not chasing TVL vanity,” Torabi said. “We measure success by non-incentivized lending demand, money velocity, and how many people use the chain without knowing it’s crypto.”
Move Industries says it isn’t trying to reinvent the wheel. Instead, the network is building a blockchain that abstracts complexity, and rewards ownership over speculation.
“Our goal is simple,” Torabi said. “Build cool things for real people. If we do that, we win.”
What’s Move-ing the Ecosystem
Encode Club is hosting a $30K hackathon for the launch of Movement’s layer-1 network
Double Up will launch its betting platform to Movement’s L1
Privy added support for Movement, bringing wallet infrastructure tools like social logins and Trusted Execution Environments
Tapping into the Community
Move Industries’ head of developer relations, Rahat Chowdhury, spoke at HackX’s closing ceremony about why open source code is better for building together
Movement Industries’ lead product designer Connie Wong talked about how the network is creating interfaces for user onboarding experiences
LayerBank increased the multiplier rewards for users who deposit MOVE tokens and stablecoins
Explore Parthenon, Movement’s interactive community hub designed to deepen user activity with ecosystem dApps
Keep Moving
Want to explore Move Industries further?
In Buenos Aires for DevCon? Check out some of these events:
Steak n’ Move on November 20
Movesado Lunch on November 21
Movement Rave in collaboration with Milady on November 22
MOVE vs EVM Debate on November 22
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.