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Moonriver (MOVR) is the 332nd largest cryptocurrency in the world by market cap, valued at $87,731,148. The current price of Moonriver is $8.180172, which is 0.616% higher than yesterday. Prices have ranged between $8.59 and $8.05 over the past 24 hours. All prices are listed in US dollars and accurate as of March 25, 2023 09:03 UTC.
MOVR is the native cryptocurrency of Moonriver, an Ethereum Virtual Machine (EVM) compatible smart-chain blockchain developed on the Kusama network. Kusama is a layer-0 blockchain network that acts as the canary network for Polkadot.
As a canary network, Kusama allows future Polkadot parachains (blockchains) to test code in an experimental environment before future deployment to Polkadot’s layer-0 network.
According to Moonriver’s website, using this relationship, Moonriver was created to serve as the canary blockchain to Moonbeam, a smart contract blockchain developed on Polkadot. The aim of Moonbeam is to offer a comfortable environment for Ethereum developers to deploy decentralized applications within the Polkadot substrate ecosystem. Likewise, Moonriver provides developers with a cost-effective, decentralized, community-led environment to design and create Ethereum-like smart contracts that, once tested, can be imported to Polkadot. All code tested and verified on Moonriver is eventually migrated to Moonbeam. In June 2021 the Moonriver project won the second candle auction for the right to deploy a parachain on Kusama. Likewise, Moonbeam also secured its own parachain on Polkadot in late 2021.
MOVR is the utility and governance token of the Moonriver protocol. The token is required as a payment for all smart contracts that are executed on the Moonriver blockchain and must be held when taking part in the governance of the wider protocol.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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