Moonriver is a smart contract parachain on Kusama that is compatible with Ethereum. Its primary purpose is to function as a complementary network to Moonbeam, serving as a continuously incentivized canary network.
The process involves initially deploying new code to Moonriver, enabling thorough testing and verification within authentic economic conditions. Once the code proves its reliability, it is subsequently deployed to Moonbeam on Polkadot.
This is achieved through the provision of a comprehensive Ethereum Virtual Machine (EVM) implementation, a Web3-compatible API, and bridges that establish connections between Moonriver and existing Ethereum networks. Consequently, developers gain the ability to deploy Solidity smart contracts and DApp front ends to Moonriver with minimal modifications.
About MOVR
As a decentralized smart contract platform, Moonriver relies on a utility token for its operation. MOVR plays a pivotal role in the fundamental design of Moonriver and cannot be eliminated without compromising essential functionality. The purposes of the Moonriver token encompass:
Supporting the gas metering of smart contract execution:
MOVR is instrumental in facilitating the measurement and allocation of gas for the execution of smart contracts.
Incentivizing collators or powering the mechanics around the creation of a decentralized node infrastructure:
The token serves as an incentive for collaborators and plays a key role in the mechanisms governing the establishment and maintenance of a decentralized node infrastructure essential for the platform’s operation.
Facilitating the on-chain governance mechanism:
MOVR is integral to the on-chain governance system, encompassing activities such as proposing referenda, electing council members, voting, and other governance-related functions.
Paying for network transaction fees:
The token is utilized for covering transaction fees within the network, contributing to the overall sustainability and functionality of Moonriver.
The Lunch Date Of MoonRiver
The Moonriver Network, launched on August 26, 2021, is a community-driven parachain compatible with Ethereum on the Kusama network. It operates as a companion network to the Moonbeam Network and is specifically designed to test and verify code before its implementation on the Moonbeam Network.
Moonriver (MOVR) Crypto
Moonriver (MOVR) serves as the native token for a parachain bearing the same name on the Kusama network. This para chain acts as the testing and validation environment for smart contracts before their integration into Moonbeam. Moonbeam, in turn, is a smart contract platform built on the Polkadot blockchain and is considered the sibling project of Moonriver.
The Tokenomics Of MOVR
At the time of the launch of Moonriver, the number of tokens was 10 million, and they were associated with annual inflation of 5%.
The Uses Of MOVR Coin
Monetary Policy: The MOVR token assumes a critical role in the maintenance and operation of the Moonriver network, serving the purposes of paying transaction fees on the network and supporting the execution of smart contracts.
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The Maximum Supply Of Moonriver (MOVR)
As of the latest information, Moonriver (MOVR) is currently priced at £7.81, reflecting a notable increase of 29.89% over the past 24 hours. This cryptocurrency holds the 421st position in the rankings, boasting a market capitalization of £67.3 million. Within the last 24 hours, it has witnessed a substantial trading volume of £41.6 million. Notably, the token has a circulating supply of 8.6 million tokens out of a total supply of 11.1 million tokens.
The Ranking of MoonRiver (MOVR)
The cryptocurrency is currently ranked 475th, boasting a market capitalization of $67.9 million. In the past 24 hours, it has recorded a trading volume of $13.7 million. The token has a circulating supply of 8.6 million tokens out of a total supply of 11.1 million tokens.
Is Moonriver A Good Project?
Predictions for MOVR in the cryptocurrency market indicate its potential as a valuable asset capable of generating substantial returns. Therefore, it is advisable to hold onto Moonriver and refrain from selling. Nonetheless, it is essential to cultivate a fundamental understanding of the network and the value it can offer before making informed investment decisions.
Is Moonriver Crypto (MOVR) A Good Investment?
As per our technical indicators, the present sentiment is bullish, and the Fear & Greed Index registers at 74 (Greed). Moonriver has seen 19 out of the last 30 days (63%) marked as green, indicating positive performance, with a recorded 4.61% price volatility over the past 30 days. Considering our Moonriver forecast, the current market conditions suggest that it is an opportune time to consider buying Moonriver.
How To Buy MOVR Coin
Followings are the markets where you can buy a MovrCoin:
- Binance
- KuCoin
- OKX
- Gate.io
- BingX
- Bybit
The Price Of MOVR Coin
As of the latest update, Moonriver is priced at US$37.19, with a 24-hour trading volume reaching $692.51 million. Over the past 24 hours, MOVR has experienced a remarkable increase of +184.49%. It currently stands at 0.00% from its 7-day all-time high of $37.19 and has surged by 508.64% from its 7-day all-time low of $6.11. The circulating supply of MOVR is 8.71 million tokens.
Conclusion
In conclusion, Moonriver, accompanied by its native token MOVR, emerges as a promising decentralized smart contract platform within the crypto landscape. Operating as a complementary network to Moonbeam, Moonriver serves a crucial role as a testing ground for smart contracts before integration into Moonbeam on the Polkadot blockchain.
The utility of MOVR is foundational to Moonriver’s design, encompassing vital functions like supporting gas metering for smart contract execution, incentivizing collators and decentralized node infrastructure, and facilitating on-chain governance mechanisms.
Moreover, the token’s significance extends to covering network transaction fees, thereby enhancing the overall sustainability of Moonriver.
Launched on August 26, 2021, the Moonriver Network functions as a community-driven parachain compatible with Ethereum on the Kusama network. Serving as a dependable environment for testing and code verification, it precedes the deployment of code to Moonbeam.
MOVR’s tokenomics disclose an initial supply of 10 million tokens, coupled with an annual inflation rate of 5%.
Recent market data reflects positive trends for Moonriver, evident in substantial price increases and trading volumes, securing a notable position in market rankings and a significant market capitalization.
While predictions underscore MOVR’s potential as a valuable asset, prudent investors are urged to grasp a comprehensive understanding of the network before making informed decisions.
Technical indicators signaling a bullish sentiment, combined with favorable market conditions according to our Moonriver forecast, currently present an opportune time for potential investment.
For prospective MOVR investors, diverse exchanges such as Binance, KuCoin, OKX, Gate.io, BingX, and Bybit offer accessible avenues for token acquisition.
The latest update positions the MOVR price at US$37.19, accompanied by substantial trading volume and a remarkable 24-hour increase, while the circulating supply stands at 8.71 million tokens, underscoring the token’s active presence in the market.