What is Moonriver
Moonriver is a platform for smart contracts. The code is to be tested here under real life conditions and then shipped to actual places. It provides EVM implementation that allows the smart contracts based on Ethereum to bring them into Kusama Network. It also allows the creation of bridges for token. The vision behind it was the creation of a platform that supports multiple chains and allows different users and assets.
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Moonriver has multiple features.
Staking: The platform allows the staking features. A minimum of five MOVR can be staked to earn rewards. The rewards are distributed among the users who stake and collators who produce blocks.
Governance: People who hold MOVR can vote for the governance on the platform. They can hold referendums, submit proposal, lock and cool off period.
Treasury: It will facilitate the launch of approved proposals. The transaction fees are used to fund the treasury. This allows for easier management of the assets.
Price Movement
The native token of Moonriver network is MOVR. MOVR is used for governance, execution of smart contracts, transaction fees and as an incentive to collators.
The MOVR had created its All Time High in September and reached a price of almost $495. The price rose from $121 to reach this level but the monthly candle closed at $301. At the time of writing this article MOVR is being traded at a price of $381 with an increase of 8.59% in the last 24 hours. A good pump at the start of Q4 of 2021. The price has been continuously printing green candles for the past few months and has shown gains of 86% and 27% for the two months. In the past 24 hours the trading volume has decreased by almost 53%.
MOVR is listed on coinmarketcap at 110th spot and has a market dominance of 0.03%. It has a total supply of about 10M coins and a circulating supply of about 2.1M MOVR.
Long Term Prediction
According to wallet investor the price of MOVR is highly bullish in nature and is a safe investment. According to their predictions MOVR will reach a value of $1257 in one year. For a five year plan, MOVR is expected to reach a value of $4647.
