Will Moonriver recover from lows in near future?

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Will Moonriver recover from lows in near future?

 Will Moonriver recover from lows in near future?
Image source: VideoFlow, Shutterstock.com

Highlights 

  • Launched on 31 August, Moonriver crypto acts as a bridge between Ethereum protocol and a Web3 compatible API.
  • The Kasuma parachain, Moonriver just recently had surpassed 2 million transactions on 16 September.

While the cryptocurrency market enjoyed a fruitful Tuesday, not all enjoyed the same fortunes. Leading cryptocurrencies such as Bitcoin, Ethereum, Cardano saw impressive gains, but a few saw a dip after seeing months of rally. Moonriver, which has registered impressive gains in September, was not doing well in the market on Tuesday

Moonriver was down by 3.59% in the 24-hour period and 1.12% lower in the 7-day period according to CoinMarketCap. At the time of writing, it was trading at US $317.65 with a 24-hour trading volume of US $21,910,098. It had a live market cap of US $593,680,692 with a circulating supply of 1,868,967 MOVR coins according to CoinMarketCap. 

Also read: Bitcoin hits $50,000 for the second time in two months

The Kasuma parachain, Moonriver just recently had surpassed 2 million transactions on September 16. The platform raked in over 750,000 transactions since 16 September and has staked over 846,000 MOVR tokens, which amasses around US $250 million. Launched on 31 August, Moonriver crypto acts as a bridge between Ethereum protocol and a Web3 compatible API. With the protocol, Moonriver gives authority to the developers to deploy the smart contracts and DApps (decenralised applications) with little modification.  

What does Moonriver offer?

Moonriver also intends to develop an in-built integration for all Kusama and ERC-20 tokens and gradually bridge it to other crypto assets as well.  Guided by the community of people using MOVR tokens gives the token holders the power to vote and with it they can shape the development aspect of Moonbeam for the near future. The network is able to provide a canary network, which is totally verified and tested under real-life economic conditions.

Also read: Binance Trading Volume On The Rise Despite Crackdown

Besides, the MOVR token offers exclusive reward to the users in the form of r Kasuma coins. One the key advantages that MOVR offers is the low transaction cost, which saves a lot of recurring costs for the users and there is no need to reconfigure from the existing platform.

What is Moonriver’s price prediction?

Moonriver has struggled whenever Bitcoin prices have gone down The MOVR token had reached an all-time high of US $448.50 in September but soon it pulled back after a couple of days. Even though it is available on leading exchanges, which should make the trading for investors easy. Having said that, MOVR still not on Binance yet, which is the world’s largest cryptocurrency exchange. It’s rising popularity has made the team to have a solid look at it and in coming days we could well see the token being listed on Binance. This could well skyrocket the price to an all-time high.

According to Wallet Investor, despite the bearish trend, Moonriver projects itself as a strong token. If one were to invest US $100 in Moonriver today, then they could see the investment increase manifold by +3823.97% in the next five year.

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