It is drifting away. Looking up at the moon in the night sky, you would never imagine that it is slowly moving away from Earth. But we know otherwise. In 1969, NASA's Apollo missions installed reflective panels on the moon. These have shown that the moon is currently moving 1.5 inches away from the Earth every year. 2.46 billion years ago, the moon was around 37,280 miles (60,000 kilometers) closer to the Earth then (that distance is about 1.5 times the circumference of Earth). This would make the length of a day much shorter than it is now, at roughly 17 hours rather than the current 24 hours.

Source: Space