Movement Labs, an Ethereum layer-2 developer, is finalizing a venture capital round of 100 million USD, valuing the company around 3 billion USD. This funding round is expected to confirm their unicorn status, joining ranks with other blockchain unicorns like Celestia.
In Q4 2024, Web3 funding reached a promising 1.6 billion USD, a recovery from 2023 lows. Movement’s native token, MOVE, was recently released with their mainnet launch, emphasizing infrastructure advancements and postconfirmation transaction technology, enabling quicker settlements on Ethereum layer-2 networks.
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