Daily Report | Binance freezes MOVE abnormal behavior, using market maker profits for subsequent user compensation; RootData releases PARTI market capitalization comparison forecast chart
March 25 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- Binance takes measures against abnormal behavior of MOVE market makers, has frozen profits for subsequent user compensation
- Movement Foundation: Unaware of market maker's behavior and has severed all ties, will use recovered funds to repurchase MOVE
- RootData releases PARTI market cap comparison forecast chart and discloses key token information
- Trump Media Group plans to cooperate with Crypto.com to launch ETF
- Dogecoin Foundation's new business department launches DOGE reserve, first purchase of 10 million DOGE
- Zhao Changpeng: The stablecoin USD1 launched by WLFI is not yet tradable, beware of scams
- Binance BNSOL super staking launches Solv Protocol (SOLV)
- OKX will launch NAVX (NAVI Protocol) spot trading
"What important events happened in the past 24 hours"
Binance announced that it has discovered a connection between a market maker for the Movement (MOVE) project and another market maker that has recently been banned from continuing market-making activities on the platform due to improper behavior.
According to the announcement, the abnormal behavior of this market maker included: selling approximately 66 million MOVE tokens one day after MOVE was launched (2024-12-10), with almost no buy orders to support it. Before the cooperation was terminated by Binance on 2025-03-18, this market maker had already gained a net profit of about 38 million USDT.
To protect user interests, Binance has taken the following measures:
- Notified the Movement Labs and Movement Foundation teams about the abnormal behavior of their market maker;
- Frozen the profits of this market maker for subsequent user compensation (specific compensation plans will be determined and announced by the project party later);
- Terminated cooperation with this market maker and prohibited any further market-making activities on the Binance platform.
In response to Binance's handling measures regarding the market violations of the Movement (MOVE) project market maker, the Movement Network Foundation stated that both the Movement Network Foundation and Movement Labs were completely unaware of this, and the reason for choosing to cooperate with this market maker was that they had previously supported projects within the Movement ecosystem. They have now severed all ties with this market maker (including ecosystem partnerships) and have contacted other major exchanges to inform them of the ongoing investigation. Throughout the incident, the Movement Network Foundation has actively cooperated with Binance and has committed to using the funds recovered from MM to repurchase $MOVE on the open market.
RootData releases PARTI market cap comparison forecast chart and discloses key token information
RootData released a market cap comparison forecast chart for Particle Network (PARTI) on the X platform and disclosed PARTI token information:
- Binance listing time: March 25, 2025, 13:00 (UTC)
- Total supply: 1,000,000,000 PARTI
- Initial circulating supply: 233,000,000 PARTI (23.3%)
- Token airdrop rewards for holders: 30,000,000 PARTI (3% of the maximum supply)
Particle Network is a chain abstraction infrastructure provider that powers chain abstraction by creating universal accounts, providing users with a single address and interaction point across chains, while extracting Gas and unifying liquidity.
Trump Media Group plans to cooperate with Crypto.com to launch ETF
Trump Media & Technology Group (TMTG) announced that it has reached a preliminary cooperation intention with the crypto trading platform Crypto.com to jointly launch a series of ETFs and related products through its fintech brand Truth.Fi, expected to officially launch in 2025, pending the signing of a final agreement and regulatory approval.
The new fund will be supported by Crypto.com for technology and crypto asset custody, covering cryptocurrencies such as Bitcoin and Cronos, and will also include securities assets related to the 'Made in America' theme, covering multiple industries including energy. TMTG plans to invest up to $250 million of its own funds, with the funds being held by Charles Schwab.
According to The Block, the Dogecoin Foundation has established an "official Dogecoin reserve" through its newly formed business department and has purchased the first batch of 10 million DOGE (approximately $1.8 million) at current market prices, with the DOGE price rising 6% after the announcement.
This initiative is part of the foundation's collaboration with House of Doge. House of Doge became the foundation's official commercialization partner after signing a five-year cooperation agreement in February this year. According to the announcement, the DOGE reserve aims to serve as a proof of concept, demonstrating the feasibility of Dogecoin in efficient, seamless transactions.
"The launch of the Dogecoin reserve is an important step for House of Doge to realize its vision of making Dogecoin a fast and reliable payment option for businesses and consumers," the announcement stated. "Through innovative technology, merchants will be able to accept Dogecoin payments instantly at checkout, avoiding the typical wait times of blockchain transactions while providing the same level of trust as traditional payment methods."
According to the announcement, House of Doge will announce its first strategic partners in the coming months to showcase the practical applications of Dogecoin as a global payment solution. Additionally, the Dogecoin Foundation plans to collaborate with "major sporting events" to promote the use of Dogecoin and focus on educating users on how to use self-custody Dogecoin wallets.
Zhao Changpeng: The stablecoin USD1 launched by WLFI is not yet tradable, beware of scams
Binance founder Zhao Changpeng stated on social media, "I have been informed that since the post about 'WLFI allegedly issuing the stablecoin USD1 on BNB Chain' was shared, many scammers have created tokens with the same name. The USD1 token officially issued by WLFI is not yet tradable. Please do not be deceived."
The WLFI project has issued the stablecoin USD1 on Ethereum and BNB Chain and is conducting multiple functional tests, but the official statement indicates that USD1 is not yet tradable.
Binance BNSOL super staking launches Solv Protocol (SOLV)
According to Binance's official announcement, Binance announced that the BNSOL super staking platform has launched its seventh cooperative project, Solv Protocol (SOLV). Solv Protocol is a staking platform based on Bitcoin, supported by its innovative Staking Abstraction Layer (SAL).
From March 27, 2025, 08:00 (Beijing time) to April 11, 2025, 07:59 (Beijing time), users holding BNSOL in their Binance accounts or Binance wallets or staking SOL to BNSOL will receive SOLV APR gain airdrop rewards. These rewards are additional to the base annual percentage rate (APR) of Binance SOL staking, providing users with an extra boost to their earnings.
OKX will launch NAVX (NAVI Protocol) spot trading
According to OKX's official announcement, NAVX will be launched on March 25, 2025.
Deposits will open at 2 PM that afternoon, with a call auction time from 5 PM to 6 PM, and NAVX/USDT spot trading will officially open at 6 PM. Withdrawal services are expected to open at 6 PM on March 26.
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Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of March 25, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: SORA, DOPE, TRIUMPH, EIC, BEEBEE
The top five popular Solana tokens in the past 24 hours are: IVANKA, SIGNAL, SONIC, PIPE, IMG
The top five popular Base tokens in the past 24 hours are: VIRTUAL, SKITTEN, PEPPER, ROUTINE, BORETT
