PANews reported on December 10 that on-chain analyst @ai_9684xtpa sorted out the reasons why MOVE once rose to $5 on the chain: 1. Upbit and Bithumb were originally scheduled to launch MOVE at the same time, which was 8 o'clock last night; 2. A small Korean exchange Coinone accidentally got it at 7:30 last night, and the opening price was an exaggerated 998,500 won (about 700 US dollars); 3. This accident forced the two major Korean exchanges to postpone the launch time of MOVE. Upbit was not launched until 09:35 in the morning, with an opening price of 2263 won (about 1.59 US dollars), and the current price is 3060 won (about 2.2 US dollars).
There are large price differences between MOVE on the chain/Korea Exchange/other leading exchanges, and there should be many institutions and smart money that are frantically arbitrage (but it should be noted that the depth of the chain is quite poor). As of press time, the price of MOVE on Binance is $0.94, the price on Uniswap is $1.93, and the price on Upbit is $2.2.
