Global cryptocurrency exchange OKX has announced the listing of MOVE (Movement) token on its spot trading market. This strategic addition follows a structured timeline designed to ensure smooth deposits, trading, and withdrawals while implementing mechanisms to maintain market stability.
Listing Timeline
The phased rollout for MOVE is as follows:
- Deposits Open: December 4, 2024, at 06:00 UTC.
- MOVE Call Auction: December 9, 2024, from 11:00 to 12:00 UTC.
- Spot Trading Begins: MOVE/USDT pair starts at 12:00 UTC on December 9, 2024.
- Withdrawals Available: From December 10, 2024, at 10:00 UTC.
Trading Limits for Market Stability
To mitigate excessive volatility during the initial trading phase, OKX will enforce temporary restrictions for the first five minutes:
- Market orders are disabled.
- Limit orders cannot exceed $10,000 in value.
These safeguards will auto-expire after five minutes, allowing normal trading to resume.
MOVE Call Auction Mechanism
A one-hour call auction will precede spot trading for MOVE/USDT. This system enables users to submit buy/sell orders within predefined parameters, with the auction algorithm determining the indicative opening price.
👉 Learn more about OKX's auction framework
Note: The project team’s suggested opening price (based on Movement Network’s valuation) will appear as a reference on charts but won’t influence the auction-derived actual trading price.
About Movement Network
Movement Network is a high-performance blockchain emphasizing:
- Speed: Instant transaction finality.
- Modularity: Customizable solutions for developers.
- Community Focus: Decentralized governance and liquidity access.
OKX anticipates strong interest from both institutional and retail traders, aligning its rollout strategy with Movement Network’s innovative features.
FAQs
Q: Can I trade MOVE immediately after deposits open?
A: No—spot trading begins December 9 at 12:00 UTC following the call auction.
Q: Why are there trading limits initially?
A: To prevent extreme price swings during the launch phase.
Q: How does the call auction work?
A: Users submit competitive bids; the system calculates a fair opening price based on order depth.
Q: Is Movement Network EVM-compatible?
A: Yes, it supports Ethereum Virtual Machine for seamless dApp migration.
👉 Explore OKX's latest token listings
Disclaimer: Cryptocurrency trading involves risk. OKX’s New Year promotion featured a $1.2M prize pool—details are subject to terms.
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