MOVR crypto skyrockets on Binance listing. Know its price prediction

3 min read | November 08, 2021 11:01 PM AEDT | By Raza Naqvi

MOVR crypto skyrockets on Binance listing. Know its price prediction — Image source: © Jirsak | Megapixl.com

What is Moonriver crypto?

Created by the Moonbeam Foundation, Moonriver was created as a companion network to Moonbeam and is intended to operate as a parachain on the Kusama network.

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Parachains are custom blockchains on the Kusama network and they feed into the main blockchain, known as relay chains, which are responsible for the network's transaction settlements, shared security, and consensus.

MOVR crypto will get listed on Binance

Moonriver is Ethereum-compatible, and it aims to help crypto projects expand their reach by attracting more users and exploring new markets using a multi-chain approach. It is intended to act as an incentivized canary network for Moonbeam on Polkadot, which means that the project would send a new code to Moonriver first.

After receiving the new code, Moonriver will test and verify it under real economic conditions, and then it will be shipped on Moonbeam.

MOVR is the native utility token of the Moonriver project, and as it is a decentralized smart contract platform, MOVR plays a vital role in the functioning of this project.

Bottom line

The MOVR crypto could attract crypto enthusiasts as it was a wide variety of use cases. This cryptocurrency can be used for paying the network's transaction fees, supporting the gas metering for the execution of smart contracts, and incentivizing collators among other uses.

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According to CoinGecko, the MOVR crypto clocked an all-time high (ATH) of US$ 494.26 apiece on September 11, 2021, and this was before the announcement of the Binance listing.

As this cryptocurrency has made its debut on Binance, it is expected to gain momentum in future and could soar past its ATH in the next few months.

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