The Moonriver price is $4.34, a change of -0.26% over the past 24 hours as of 6:31 a.m. The recent price action in Moonriver left the tokens market capitalization at $32,983,427.67. So far this year, Moonriver has a change of -29.56%. Moonriver is classified as a Smart Contract Platform under CoinDesks Digital Asset Classification Standard (DACS).
MOVR went live in August 2021. Its price rose sharply after that from about $73 to a high of about $494 in September of that year. The price dipped to $239 by mid-October 2021, and then rose to $443 in November 2021. It subsequently crashed, falling to below $100 by February 2022.
Moonriver’s sister token, Moonbeam (GLMR), collapsed in value after launching at the start of 2022, falling from $15 per token to about $2 by May 2022.
Moonriver started with a supply of 10 million tokens, with 30% issued as part of a crowd loan – similar to a token sale. The rest is being used to incentivize the network’s growth.
Whenever a transaction is executed on Moonriver, 80% of the fees are burned – permanently removed from circulation by being sent to a wallet that nobody controls – and 20% are sent to Moonriver’s treasury.
Moonriver is a smart contract platform on Kusama, which is a blockchain network for experimental Polkadot smart contracts. As such, Moonriver is a so-called “CanaryNet” for Moonbeam. The Moonbeam Foundation, which acts as the steward of the Moonbeam network, describes Moonriver as a “community-led experiment.”
MOVR is Moonriver’s utility token. It is used to settle transaction fees and pay rewards to stakers and as a governance token. Governance tokens let holders determine the future of the protocol. The utility of MOVR is similar to that of GLMR, although the token distribution isn’t identical to accommodate the divergent goals of the two networks.
PureStake, which was founded in 2019, is led by CEO Derek Yoo, who has a background in cloud computing. Stefan Mehlhorn, who previously worked at Samsung Electronics America, is PureStakes’’ chief operating officer, and Tim Baldwin is its vice president of engineering. In March 2021, the company raised $6 million in a Series A funding round that was led by CoinFund. In September 2020, it raised $1 million in a seed funding round that was led by Hypersphere Ventures.
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