Movement Network's MOVE coin is on the rise, despite the broader crypto market downturn. Today alone, MOVE has seen a surge of over 6%, and over the past week, it has climbed by an impressive 14%.

This bullish trend can be attributed to the recent launch of Movement's mainnet beta, as well as new ETF filings from Rex Shares and Osprey Funds.

The long-awaited mainnet went live on March 10 at 15:00 UTC, featuring a groundbreaking bridging mechanism powered by LayerZero technology. This development allows users to seamlessly transfer assets such as MOVE, USDT, USDC, wBTC, and wETH onto the Movement blockchain.

The launch has injected over $233 million in liquidity into the network, with BTC, ETH, and MOVE being sourced through the Movement Cornucopia program. This milestone enables developers and users to engage with the network in a more accessible manner than ever before.

Originally part of Facebook's digital currency project, MOVE has evolved over the years to be utilized in various layer-1 projects like Sui and Aptos. Additionally, Movement Labs has leveraged the technology to create an Ethereum-based layer 2 solution.

Coinciding with the mainnet launch, investment firms Rex Shares and Osprey Funds have submitted filings to introduce an ETF that tracks MOVE's price movement. These developments align with a shift in sentiment at the SEC towards a more crypto-friendly stance, as regulatory barriers for assets like meme coins are being dismantled.

The positive momentum surrounding MOVE has propelled its market cap beyond $1.2 billion, with trading volume surging by over 40% today. These encouraging developments signal a bright future for Movement Network and its native token, MOVE.