Moonriver price was an all-time high at $495.71 which formed on November 8, 2021 but has now fallen drastically at $72.33. Can Moonriver reach $1000, or is Moonriver dead?
Moonriver’s current market capitalization is $231,059,701, with a total circulating supply at the time of writing 3,192,194.00 MOVR, of a maximum supply of 10 million, and a total supply of 10,268,209 data from Coinmarketcap.
Moonriver with ticker symbol MOVR is the second token of the Moonbeam network used in the Kusuma network which is a walnut network in the Polkadot ecosystem. Read about Moonbeam crypto here
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What does Moon river mean?
Similar to Glimmer (GLMR), Moonriver (MOVR) is a token issued by the Moonbeam foundation. However, the difference between the two is that GLMR was launched on the Polkadot network, while MOVR was launched on the Kusuma network.
While the Kusuma network is a Canary network, Moonriver is intended to test functionality before being used in Moonbeam on the Polkadot network.
All codes will be sent to Moonriver first, and here they will be tested and verified under real economic conditions. If the test is successful, then the same code is sent to the Moonbeam network in the Polkadot ecosystem.
When did Moon river launch?
Moonbeam foundation launched Moonriver through several phases, with the final full launch on the Kusuma network on August 26, 2021.
After going through several processes, from phase 0, launching the Genesis block, on June 29, 2021. Phase 1 started Delegated Proof of Stake, on 9 July 2021. Then phase 2 Governance on 23 July 2021. Phase 3 Removal of Sudo on August 5, 2021. And phase 4 Full Launch (Balance Transfers and EVM) on 26 August 2021.
All phases in launching Moonriver aim to ensure that all processes are carried out with a function to prove each phase is running well.
What does Moon river do?
In the Moon River network, MOVR tokens have an important role to play in running the Moonriver smart contract protocol which is a decentralized network.
The uses of MOVR in the Moonriver network include:
- To support smart contract execution.
- Provides incentives to collators and gas metering, and powers the creation of decentralized nodes to run the protocol.
- Provide on-chain governance facilities, including voting, electing council members, and others.
- As a payment token for transactions in the Moonriver network.
MOVR was created with a total supply of 10 million. Economic allocation of token distribution 30% or 3,000,000 tokens were allocated to the para chain crowd loan.
40% for Community Initiatives and Parachain Slot Reserve, or 4 million tokens. 0.5% for Parachain Bond Reserve, or 50 thousand MOVR. Another 0.5% for Treasury. 24.5% for Long-Term Network Stewardship & Adoption or 2,450,000 MOVR. And 4.5% for the Developer Adoption Program or 450 thousand tokens.
How to add Moonriver to Metamask?
Metamask wallet already supports Moonriver and Moonbeam. Users can add Moonriver to Metamask with the following steps:
- Go to the settings page.
- Then click Networks ->> Add networks
- Write the form detail below:
- New RPC URL: https://rpc.moonriver.moonbeam.network.
- ChainID (optional): 1285.(hex: 0x505)
- Symbol (optional): MOVR.
- Block Explorer (optional): https://moonriver.moonscan.io/.
Is Moon river EVM compatible?
Moonriver is the first para chain to develop a para chain staking consensus protocol in Kusama that is compatible with EVM.
Moonriver uses Delegated Proof of Stake (DPoS) consensus, where token holders delegate their tokens to collators who are producers of a particular block– and they get rewarded.
Initially, the implementation of the Moonbeam para chain used the Polka-dot nomenclature for Nominated Proof-of-Stake, where MOVR stakeholders were referred to as nominees, who “nominated” block producers. Because it creates confusion where the implementation of Moonbeam staking in Polkadot is different from staking in Kusuma.
Moonriver, a decentralized smart contract platform, requires MOVR tokens to run. These tokens are essential to Moonriver’s functionality and cannot be removed without sacrificing basic features.
Is Moon river a good investment?
After fully launching Moonriver in August 2021, MOVR’s price quickly received a market response that brought it to an all-time high in November at a $495.71 price level.
Trading volume in November was very high, before reaching its highest peak, the price in early September was almost at an all-time high. However, in the same month, prices fell again, which was triggered by profit-taking by traders.
The price went to a low of $225 which then became a price jump to form an all-time high in November.
The current price at the time of writing is $69.21, it seems impossible for Moonriver to hit $1000. Even if it reaches this price level, it may take a long time. Where global economic and geopolitical conditions also affect crypto assets.
Meanwhile, according to Cointobuy, Moonriver got a score of 3.3 out of the highest score of 10. This indicates a fairly high investment risk with the expectation of a profit above 55%.
Why Moon river is down?
It is not known exactly what caused the Moonriver price to drop. However, technically, Moonriver drops were caused by profit-taking from big investors.
Another reason price of Moonriver drops is because of the regulation of cryptocurrency. Then the action of the Fed began to tighten finances to fight inflation.
Almost all cryptocurrencies facing a decline. Like as Bitcoin prediction maybe hit $100k. in fact, the current price is in the $70’s range, which is where the price drops from an all-time high of more than 85%.
Will Moon river go up?
Despite dropping more than 85% from its all-time high, Moonriver’s price is currently in the $70 range. There is no all-time low price information available on coinmarketcap, but the current price is a low price.
As in economic theory, where investors will look for low asset prices in the hope of reselling them at high prices. Allows Moonriver prices to go up for the next few years.
Meanwhile, according to Wallet Investor’s forecast, Moonriver is a bad asset for investment in the next year. Wallet Investor is a forecasting site that uses a technical analysis system to forecast future assets.
Furthermore, Wallet Investor predicts the price of Moonriver will drop in the range of $62 at the end of 2022.
Image Wallet Investor
While CryptonewsZ predicts Moonriver is still possible to rise again to reach an all-time high. With a possibly different technical approach, projecting the Moonriver price is a possible asset to go up. After all, no prediction is perfect, it’s just a possibility, and there is no investment advice in this regard. All investors should consider the risks they may face.
Is moon river dead?
If you analyze price changes in the past month, Moonriver is an asset that tends to decline, reaching a low of $66 on February 22, but the price has tried to crawl up since then.
Even though this price is in the support zone. But is we don’t know exactly where the lowest price will possibly hit.
With trading volume 24-hour in average $20 million range, indicating Moonriver is not dead yet. There are still many traders speculating on this Moonriver crypto asset.
Even in the movement in February, the Moonriver price reached above $ 106, which is an indication that there are still many who trade Moonriver.
Where to buy Moonriver coin?
Moonriver currently ranks #183 on Coinmarketcap and is on the watchlist by 127,221 users. To find an exchange that provides MOVR, you can look up information on Coinmarketcap.
Here are some exchanges that provide MOVR on their platform.
Binance
Binance, the largest exchange, has been listing MOVR since 2021-11-08 06:00 (UTC). On the platform, Binance provides Moonriver in pairs MOVR/BTC, MOVR/BNB, MOVR/BUSD, and MOVR/USDT.
Biancians (the term for Binance exchange users) can trade Moonriver, buy or sell on the Binance platform. Users can withdraw MOVR from Binance to compatible wallets.
OKX
OKX is a crypto derivatives exchange that provides a wide range of trading assets including Moonriver. The current 24-hour trading volume stands at over $21 billion. To start using the OKX platform users must register first.
DigiFinex
Digifinex has listed the MOVR on Jan 25th, 2022 GMT +8, and is trading three hours later. In this exchange, the user can trade the pair MOVR/USDT.
Digifinex transaction volume in 24 hours is also high, more than $9 billion.
Bitget
Bitget is a cryptocurrency derivatives exchange that provides margin trading and spot trading. Found in 2018 Bitget headquarters is in Singapore. The current 24-hour transaction volume is more than $7 billion. Users can trade Moonriver in pairs with MOVR/USDT.
Mandala Exchange
Mandala Exchange is an exchange that uses the Binance Cloud, which is open for trading since December 2020, and the current 24-hour trading volume is over $7 billion. You can find MOVR in this exchange which provides flat market, BTC, and MDX market.
Kraken
Kraken is a popular exchange with a current 24-hour trading volume of over $1 billion. Users can purchase MOVR on Kraken exchange by first registering, verifying the account, funding the account, and making a purchase.
You can use charting tools to analyze and find the best price for MOVR. However trading MOVR is not available for residents of the USA, Canada, Australia, and Japan.
Where to store Moonriver?
For the Moonriver store, you need a compatible wallet, if you already have an Ethereum account, then the wallet is compatible with Moonriver.
On some exchanges, you can store MOVR in an account on an exchange like Kraken, but the risk is higher even if the exchange uses multiple layers of security standards because hackers are always trying to find a way to breach security.
In addition, you can manage Moonriver via Ledger wallet, by installing the Moonriver application via Manager on Ledger live by finding Moonriver in the catalog and installing it. You cannot add a Moonriver account on Ledger live.
Some of the wallets that support Moonriver include Metamask, Math wallet, Nifty Wallet, and Monkey tool.
Moonriver price predictions
Wallet Investor predicts MOVR is a bad investment in the next year. This forecasting site predicts the MOVR price to fall at $6,340 over a 1-year long term.
Technewsleader predicts MOVR from year to year to rise gradually. In 2022 MOVR averaged $103.85. 2023 average price is $152.38. 2024 rise to $221.86. 2025 average price $328.01. The 2026 average price is to be $458.45. 2027 is average price of $692.39. 2028 the average price at $1,055.96. 2029 average to 1,452.04. 2030 an average of $2,126.39. And 2031 averaged at $3,239.79.
SwapSpace predicts MOVR in 2022 to reach $128,485. 2023 is average at ~$179,254 price level. 2024 an average of $211.76. 2025 is probably to reach $235,768.
PricePrediction forecasts a 2022 MOVR of $93.08. 2023 average price $135.24. 2024 the average price rose $194.58. Furthermore, in 2031 forecast the MOVR to reach $2,322.25
CoinCodex forecasts for the short term the prices of Support 1 at $67.31, Support 2 at $64.88, Support 3 at $62.91. Resistance 1 at $71.72, Resistance 2 at $73.70. Resistance 3 at $$76.13.
MOVR live price Tradingview
Final Thought
Some forecasting sites do predict the price of Moonriver can reach $ 1000. However, if you compare the current price below $100 it seems difficult to reach that price in the near future.
Fundamental factors are also the carrying capacity of Moonriver, by following the latest updates, the efforts of the development team can provide important information in making investment conclusions.
Note: This article is informational only and does not constitute investment advice. Crypto assets, CFDs, and forex are risky. Each investor is responsible for their investment.
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