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Highlights
- Moonriver promises to help developers deploy existing DApps to other networks
- Moonriver is using the Kusama blockchain platform, while the project’s other network, Moonbeam, will use Polkadot
- The MOVR token has use within the Moonriver project, and hence, its price would depend on the network’s adoption
The fight within the blockchain network universe is heating up with each passing day. Though Ethereum remains second best with regard to market cap, other networks like Solana, Fantom, and Polkadot are fast attracting decentralized finance (DeFi) developers.
A few projects are working to help developers deploy their existing projects to another blockchain. This could be the road ahead because no app may want to restrict its use to a single blockchain. Moonriver is one such project that claims to be an enabler of existing decentralized apps (DApps).
What is Moonriver?
Moonriver is said to be a parachain on Kusama’s network. Kusama on the other hand is a platform that enables developers to test their DApps prior to fully launching on Polkadot’s blockchain.
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Moonriver, its developers claim, is a testbed for applications that are intended to be built for Moonbeam. Moonbeam is also underpinned by Polkadot.
Developers can test their projects on Moonriver, and then eventually shift the project to Moonbeam. The Moonriver parachain also claims to have support for Ethereum-built apps, which can be replicated with little modifications in the code.
Moonriver crypto
The MOVR token serves as the native token of Moonriver network. MOVR, according to the official website of Moonriver, can serve multiple purposes, including acting as the governance token for voting on critical issues, and payment of fees by users of Moonriver services. MOVR can have a maximum supply of 10 million tokens, which may make it an attractive asset.
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Moonriver crypto price
The MOVR token is presently trading at nearly US$96. The market cap of over US$300 million makes the Moonriver crypto one of the top 200 cryptocurrencies on the CoinMarketCap listing. Both the price and trading volume of the MOVR crypto have gained over the past 24 hours.
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Moonriver crypto price prediction
Moonriver was once priced as high as US$480. The price has manifested volatility, and in 2022 so far, MOVR has lost almost 50 per cent.
That said, Moonriver price in the medium-to-long term would rely more on how the Moonriver project can help smart contract developers to deploy existing Ethereum DApps to a new environment. Having links with Kusama and Polkadot, both of which are formidable networks, Moonriver may find more use in the coming months.
If Polkadot and Kusama gain, and Moonriver serves as a bridge for developers, the MOVR token price may rise to US$300 by the end of 2022, but this would depend on how other major crypto assets perform and how Moonriver fits into the DeFi and DApps space.
Data provided by CoinMarketCap.com
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Bottom line
Moonriver, like other cryptos, has exhibited volatility. But if the Moonriver parachain can prove its utility in the popular DeFi sector, it may rise in the coming months.
