Movement Labs Targets $3B Valuation in $100M Series B Round

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As a crypto investor, I’m excited to share that Movement Labs, a well-known American software company, is on the verge of completing its Series B funding round, aiming for an impressive $100 million. Even amidst the broader cryptocurrency market’s bearish trend over the past two days, with Bitcoin (BTC) failing to maintain its position above $100,000 again.

Based on a special report from Fortune, the Series B funding round is expected to conclude with Movement Labs being valued at an impressive $3 billion. It’s been informed that this financing will be jointly led by CoinFund and Nova Fund, which is associated with Brevan Howard’s cryptocurrency offshoot.

The sources also verified that those who invested during this round will get a mix of shares and MOVE tokens, which is the cryptocurrency issued by Movement Labs. It’s worth noting that there’s a greater emphasis on the altcoin that was launched in December. The specific amount hasn’t been revealed, but as per CoinMarketCap, this altcoin ranks 58th and has a market cap of approximately $2 billion.

It appears that investment in the cryptocurrency market is surging again, much like what investors experienced in 2021. Yet, digital asset investment firms are being more selective about where they invest their funds this time. The reason for this cautious approach could be due to the lessons learned from the previous bull run when crypto firms saw significant increases in valuation after securing funding from various sources. However, it’s evident that the market has evolved since then and firms are being more mindful of the maturity the market has reached.

Previously, Movement Labs managed to secure an impressive $38 million during their Series A financing in April 2024. This significant investment was spearheaded by Polychain Capital, with additional participation from Hack VC, dao5, and Robot Ventures. In the upcoming weeks, they anticipate wrapping up their Series B funding round.

According to an earlier report by Coinspeaker, last October saw Movement Labs, together with Gate Ventures and Boon Ventures, unveil a $20 million fund aimed at fostering innovation within the Web3 sector. It’s possible that such funds will be introduced again in 2025.

MOVE Token Crashes 15%

Despite Movement Labs’ recent announcement, the value of the MOVE token didn’t increase as anticipated. Instead, it plummeted by a significant 15.15% over the past day and is currently trading at $0.8800. This represents a substantial decrease of 39.64% from its all-time high of $1.45, which investors saw barely a month ago.

Based on the 4-hour chart of the MOVE token shown here, it appears that the cryptocurrency could potentially carry on its descending trend. It seems that the interest in this digital asset has noticeably decreased.

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2025-01-09 03:42