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Moonriver (MOVR) Heading to The Moon - Product Release & Updates

www.altcoinbuzz.io 12 September 2021 11:55, UTC
Reading time: ~2 m

Did you know that Moonriver is the first-ever EVM-compatible parachain on Kusama that facilitates compatibility with pre-existing Ethereum tools and ecosystems? Continue reading to learn more about Moonriver.

The first two weeks of Moonriver (MOVR) as a parachain on Kusama have been eventful. The mentioned parachain recorded exponential growth in its first two weeks and has shown no signs of slowing down.

According to an official tweet of the Moonriver Network, more than 680,000 MOVR tokens (valued at approximately USD 130 million) have been staked on Moonriver. Interestingly, the parachain also recorded an average daily transaction volume growth of 48.7% in its first two weeks. As you can see in the tweet below:

1/ Moonriver has seen incredible growth in its first two weeks!🚀

🔐 More than 680k $MOVR (~$130M) staked
📈 48.7% average daily growth in transaction volume
🚀​ @seascapenetwork, Zoombies (@CryptozNFT) & @wanchain_org deployed to Moonriver.https://t.co/yRC8WGh36p
(continues) pic.twitter.com/7XOmBPuxKP

— Moonriver Network (@MoonriverNW) September 9, 2021

Since then, Moonriver’s daily transaction volume and TVL have continued to grow exponentially. Also, the parachain’s daily transaction volume recently crossed the 100K benchmark. A milestone achieved barely four (4) days after it crossed the 16k benchmark. On the other hand, Moonriver already boasts approximately $55M TVL on Solarbeam alone.

According to a tweet shown below, several other top-notch DeFi projects like SUSHI and CREAM are deploying soon on $MOVR.

Moonriver daily transactions and TVL growth accelerating. Yesterday daily transactions passed 100K for the first time (up from 16K 4 days earlier). Already $55MM in TVL on @Solarbeamio alone, and a number of major DeFi projects including $SUSHI and $CREAM deploying soon on $MOVR pic.twitter.com/KvD0qm0iKv

— Austin Barack (@AustinBarack) September 10, 2021

Thanks to Moonriver, interoperability on Moonbeam is sure to receive a boost. This, in turn, is sure to facilitate the next wave of user growth and app development.

More on Moonriver (MOVR) and Moonbeam

Moonbeam’s Moonriver was one of the first projects to win one of the first parachain auction slots. This win is expected to make application development and user growth on Moonbeam to the next level.

Moonbeam is an ETH-compatible smart contract parachain on Polkadot (DOT). Also, the Moonbeam parachain will be at the core of the Polkadot relay chain while Moonriver will be within Kusama.

Moreover, Moonbeam is also building a one-size-fits-all smart contract parachain. However, when compared to other general-purpose parachains, Moonbeam is only focused on facilitating EVM compatibility.

MOVR Price

At the time of publication, MOVR was trading at $427.27 with a 24-hour trading volume of $99,950,538. The token price is also up 3.0% in the last 24 hours.

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