Moonriver ($MOVR) has increased its Price up to 300% since the platform came out in August. Currently, it has a marketcap of around USD 800 million. The network is an Ethereum-compatible smart contract platform.
The Kusama network has a variety of parachains, whereas Moonriver has become the most adopted parachain. The Polkadot protocol produces parachains. Kusama provides a place where developers may experiment or build something fast. Parachains allow blockchains to communicate with one another.
Therefore, developers can use the Moonriver parachain to connect their decentralized apps (dApps) to the Kusama network, the ethereum blockchain, and other compatible ones.
⚡️FIVE MILLION TRANSACTIONS⚡️
🔥Moonriver continues to be the most widely adopted parachain on @KusamaNetwork with 60+ live integrations, 173k+ wallets, 2k+ ERC-20 tokens.
🚀 Moonriver is an early indicator of what kind of activity @MoonbeamNetwork will bring to @Polkadot! pic.twitter.com/a2NOlGau6N
— Moonriver Network (@MoonriverNW) November 10, 2021
Moonbeam is Moonriver ‘s compatible project, one of the projects in line to become a parachain on the Polkadot network. Therefore, Moonbeam is currently in first place at Crowdloans on Polkadot.
Also, Moonriver network is the leading parachain when measured by these 4 KPIs:
- Market Capitalization: Moonriver has the highest fully diluted market capitalization of all parachains on Kusama. It’s worth USD 3,5 billion. Karura is the second with USD 660 Million.
- Transaction Volume & Usage: Moonriver is the most adopted parachain on the Kusama network. It has 60+ live integrations, 195k+ wallets, 2k+ ERC-20 tokens.
- Total Value Locked: Moonriver has the biggest Total Value locked (TVL) of all parachains on Kusama. It is on 18th place on all chains. The total Value locked is USD 380 Million.
- Ecosystem Deployments: DeFi projects are choosing to deploy on the Moonriver smart contract platform as a more manageable approach to reach Kusama ecosystem users and assets.
🚀After over 2 months of launch, Moonriver has hit outstanding results, becoming the leading parachain in @KusamaNetwork⚡️
🎉The Moonbeam team celebrated Moonriver's achievements & talked about what is coming up next 🔜
🎥Recording available here👇
https://t.co/WzGG9wWU4M pic.twitter.com/HETpfVxmAj— Moonriver Network (@MoonriverNW) November 12, 2021
$MOVR Utility Token
Moonriver, as a decentralized smart contract platform, requires a utility token. Therefore, $MOVR is key to Moonriver’s design and cannot be removed without compromising essential functions. As a result, here are the four use cases of the $MOVR token:
- Supporting smart contract execution gas metering
- Providing incentives for collators and enabling the establishment of a decentralized node infrastructure on which the platform can run
- Facilitating the governance mechanism on the blockchain
- Paying for network transaction fees
On the other hand, if you’re looking for a place to purchase $MOVR, you can get it in the following exchanges:
$MOVR Price
Finally, at the time of writing this article, the Price of $MOVR is USD 344.38. The ATH was in September at a value of USD494. Moreover, if we look at the Price of the last 30 days, the $MOVR Price had risen, whereas the lowest Price in the previous 30 days was on October 19th, when it was USD 238.
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