To move an asset inside of Cascade, select the asset to be moved, then click on the More tab (three horizontal buttons). Select Move from the dropdown menu. Under the New Folder field, click the currently selected folder. This will bring up a new chooser window which will list recent files by default. Navigate to the folder where the asset should be moved by choosing the Browse tab and selecting the appropriate folder. When the folder is selected, click the Choose button. Finally, click the Move button and the asset will move to it's new location.
Any links previously made to this asset will be automatically updated and the navigation will automatically place the asset in the new location.
Assets can also be moved by clicking and dragging in the Site Content pane. When dragging a selected file to a new folder, the folder will open when it is hovered over.