Movement Blockchain TVL Hits $200M Ahead of Planned Layer 1 Transition
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Move Industries, the company behind the Movement project, announced it will transition from a sidechain to its own Layer 1 network to boost performance and enable native token staking. The L1 shift aims to scale throughput from 500–600 TPS to 10,000 TPS with sub-second latency and will introduce Move 2.0, an upgraded version of its smart contract language. A validator network will secure the chain, though locked MOVE tokens won’t be eligible for staking. A developer testnet is planned soon, with a mainnet migration by late 2025. The migration will be seamless for users, with all funds, contracts, and activity carrying over. Onchain activity is already rising: TVL hit $200.6M, up from $156.2M in early September, while DEX volume tripled in August to $343.6M. MOVE is trading at $0.13 with a market cap of $349M. The move comes after a May shakeup, when co-founder Rushi Manche was dismissed over a 66M token market-making scandal. Now under new leadership, Move Industries says it’s focused on transparency and community trust.