A new layer-2 Ethereum (ETH) altcoin has made waves after Coinbase, a leading US crypto exchange, added support for it. Movement (MOVE) shot up to a high of $1.45 on Monday. That’s a remarkable increase of over 135% from its low of $0.616 when the listing was announced.

However, as of now, MOVE has pulled back to around $0.65. This represents a decline of 13.1% in the last 24 hours. With a market cap of $1.46 billion, it ranks as the 96th largest crypto project. Coinbase has labeled MOVE as “experimental.” This means it carries certain risks, like price swings and possible order cancellations due to lower trading volume.

Moreover, MOVE has gained traction on other major exchanges, including Binance and Upbit. The Move programming language was initially developed by a consortium backed by Meta for the now-defunct Diem project. It has since been used to create layer-1 blockchains like Sui (SUI) and Aptos (APT).

This year, venture capitalist Chris Burniske pointed out the Movement ecosystem. He said, “I think it’s worth paying attention to. Even though it’s small right now, the Move ecosystem, including Movement, Aptos, and Sui, is interesting. People aren’t really talking about it much, which I find intriguing. It’s an uncrowded space that might offer great opportunities.”