The Movement project has made new moves. On-chain data shows that they just transferred 50 million MOVE to a certain top exchange, which is approximately 2.51 million dollars at the current price.

Looking back, in March, Movement conducted a $38 million buyback plan, during which they withdrew 180 million MOVE from the exchange to a public buyback address, with an average price of around $0.21. Originally, the buyback was a positive operation, but then the problem arose—they started to turn back after the buyback.

Now it adds up, and there are already 115 million tokens flowing back to the exchange. This operation is somewhat difficult to understand; what is the significance of the buyback? There are also voices in the market questioning whether this is a real buyback or just a transfer from one hand to the other.

Anyway, the on-chain data is there, and what the specific intention is, probably only the project team knows.