DeFiLlama data cited in the report shows daily app revenue on the Movement chain has stayed below $800 since November, while on-chain daily fees remained in the single digits for months and recently hit $1.
Movement is described as having collapsed after raising $141 million, with the report characterizing the project as bankrupt as on-chain activity and monetization dwindled. Data from DeFiLlama shows daily app revenue on the Movement chain has remained below $800 since November last year, while daily on-chain fees have stayed in the single digits for months and most recently stood at just $1. The figures point to a sharp disconnect between the capital raised and the chain’s ability to generate sustained usage and fee income, a key metric for blockchain networks seeking to prove product-market fit.