XBIT Wallet reported on September 17th that the market generally expects the Federal Reserve to cut interest rates by 25 basis points at the conclusion of its meeting on Wednesday (2:00 AM Beijing Time Thursday). This decision is driven by the recent slowdown in job growth. Last month, Fed Chairman Powell stated that the policy focus would shift from inflation concerns to employment issues.
Against this macro backdrop, the blockchain sector is also experiencing significant developments. Move Industries officially announced that its Movement network will transition from a sidechain architecture to an independent Layer 1 blockchain. This shift will open new application scenarios for token wallets supporting the Move ecosystem, such as the XBIT Wallet decentralized web3 wallet, and promote an upgraded user asset management and on-chain interaction experience. It has already begun preparations for adapting to the Movement Layer 1 architecture and will subsequently optimize core functions based on the new network features to connect users to the benefits of the upgraded ecosystem. The XBIT decentralized exchange also plans to simultaneously connect to the upgraded Movement network, forming a “wallet + trading” ecosystem synergy.
After the upgrade, Movement, as a Layer 1 blockchain, will achieve a highly efficient processing capacity of over 10,000 transactions per second (TPS) with confirmation times of less than one second, a significant improvement over the current upper limit of 500-600 TPS. For users, this means that transfers, staking, and other operations initiated through related tools will be confirmed more quickly, eliminating the need to wait due to network congestion. Especially for high-frequency trading or large-scale ecosystem activities, tools like XBIT Wallet can more reliably handle users’ immediate operational needs, improving both the efficiency and user experience of on-chain interactions. Furthermore, the high-performance network also enables tools to expand their functional capabilities, such as supporting more complex contract calls and cross-chain asset management, further enriching the user experience of on-chain services.
XBIT Wallet reported that regarding staking mechanisms and asset security, Movement has clarified that only unlocked MOVE tokens can participate in staking; locked tokens cannot be used for this operation. This aims to tie staking rights to active community members and prevent “dormant assets” from occupying staking resources. To address this rule, XBIT Wallet’s decentralized wallet, the Web3 Economic Pass, has completed a dedicated feature adaptation: users can intuitively distinguish the locked/unlocked status of MOVE tokens upon opening the tool. Clicking the “Stake” button automatically filters compliant assets and initiates the transaction, eliminating the need for manual rule verification. The tool’s built-in asset security monitoring system tracks staking income receipts, asset status changes, and other dynamics in real time. Pop-up alerts ensure users are kept informed of their asset status, reducing risk associated with unfamiliarity with the rules or operational errors, making it easy for users to participate in the Movement network’s staking ecosystem. The implementation of Move 2.0 language features is a highlight of this upgrade. New features such as enumeration types and function values will provide developers with more flexible tools and foster the development of more innovative DApps. XBIT Wallet has already made early preparations for adaptation and plans to open interactive portals for DApps developed based on Move 2.0, following the launch of the Movement public testnet. As a professional token wallet serving the Move ecosystem, XBIT Wallet prioritizes user asset security when integrating into this new ecosystem. Web3 mnemonics are central to asset security: they are unique and unique to the wallet; they consist of simple words, making them easy to back up and remember; they are crucial for wallet recovery, allowing for asset retrieval on any device; and they can be generated offline to mitigate network security risks. Related tools will reinforce user awareness of mnemonics through pop-up reminders and security tutorials.
According to data from the XBIT Wallet app, over 500,000 users have added MOVE tokens to their XBIT Wallet portfolios. Nearly 30% of these users have explicitly stated that they will participate in MOVE token staking through the tool after the Movement Layer 1 network launches. This data reflects both users’ anticipation for the Movement ecosystem’s upgrades and its recognition as a core tool within the Move ecosystem. Previously, when Movement Labs reorganized into Move Industries in May 2025, XBIT Wallet immediately updated updates and updated features to provide users with the latest information and services. During this transformation, XBIT Wallet once again provided comprehensive services to help users capitalize on the ecosystem’s dividends, enabling them to confidently and conveniently allocate and interact with their assets amidst the Movement network’s transformation. Innovations in the blockchain sector may provide investors with more diverse asset allocation options. As a professional token wallet focused on cross-chain asset management, XBIT Wallet will continue to provide professional services to help users navigate market fluctuations. It is worth noting that the Fed faces multiple complex environments in this interest rate cut meeting:Trump has launched continuous attacks on the Fed for its previous refusal to cut interest rates andMiller has also attempted to remove Fed Governor Cook from his post on charges related to real estate transactions. Although the appeals court upheld the ban to allow Cook to attend the meeting, the government still plans to appeal to the Supreme Court. At the same time, the Senate has voted to confirm Trump’s economic adviser Stephen Milan to fill the vacant seat on the Federal Reserve Board, and the two will attend the meeting together; for Powell’s team, the problem of signal release must be addressed as a priority. His speech last month focused more on the labor market. Although raising the level of economic concern after the weak employment report in August can verify the expectation of a rate cut, it is necessary to overcome the doubts of colleagues about the neutral interest rate and the conditions for a rate cut. The test of the Fed’s independence is also critical. The last few months of Powell’s term may become a watershed in independence. Berezin pointed out that if the Fed makes a wrong decision and delays rate cuts due to an economic slowdown, it will encourage Trump to undermine its independence.
