But what else is in the Moonriver network? Is it useful to invest in it? Is there a future, and is the technology robust and sustainable?
Let’s find out as we take a look into the future price analysis of the Moonriver, its native utility token Moonriver MOVR forecast.
Overview of Moonriver
Let’s start by getting to know a bit about Moonriver. The Moonriver is an Ethereum compatible smart contract parachain that operates on the Kusama mainnet. The basic idea for the Moonriver network is to function as a smart contract platform capable of providing a one-stop hub for users to redeploy Ethereum DApps without the need for configuration into the Kusama network.
|Price Change 24h||+0.73%|
|Price Change 7d||-5.13%|
|Circulating Supply||4,276,660 MOVR|
|All time high||$495.71|
|All time low||No Data|
|Moonriver ROI||No Data|
Trade Moonriver Now
How Does it Work?
Moonriver is intended to work as a smart contract platform capable of redeploying the Ethereum DApps with minimal friction. In short, the Ethereum DApps need not be reconfigured or rewritten to operate on the Kusama network. If you are not aware, Substrate is a framework for creating a novel blockchain and applications that can run on the Kusama and Polkadot networks. To do this, Moonriver offers the following services to developers:
EVM Implementation: This allows for Ethereum based smart contracts to migrate to Kusama with minimal effort.
Web3 Compatible APIs: This allows Ethereum based tools such as Metamask wallet to operate with the Moonriver network.
Bridges: This allows for token transfers, state visibility, and message passing with Ethereum and other chains such as Solana or Bitcoin.
It also has many built-in integrations for assets such as DOT and ERC-20 and infrastructure services like Chainlink.
The native currency of Moonriver is MOVR, and it is key to maintaining and operating the platform. It can be used to pay transaction fees, support smart contract execution, incentivize collators for generating blocks to support the network, and facilitate the on-chain governance mechanisms.
Features of Moonriver (MOVR)
One can stake a minimum of 5 Moonriver MOVR tokens on the network. The reward for staking is distributed among collators and nominators. The rewards given to the collator are fixed at a 20 percent inflation rate annually.
The Moonriver token holders shape the future of the network by submitting their proposals, voting on the key decision and updates, determining the launch dates of referenda, and other such tasks.
A community treasury facilitates the approved proposals by the governance council. The treasury is funded by a certain percentage of the network’s transaction fee. This allows for easier management and allocation of funds to the approved proposals by the governance council.
Trade Moonriver Now
Moonriver MOVR Token Use Cases
The Moonriver MOVR token is used to perform various functions on the platform. Some of these are:
- Payment of transaction fee on the Moonriver token
- To provide an on-chain governance mechanism, enabling users to participate in governance and proposing the future of the network by voting.
- To facilitate the gas metering function of smart contract execution
- To provide an incentive to collators and facilitate in creating decentralized node infrastructure of the Moonriver network
Moonriver Technical Analysis
For this Moonriver technical analysis, we will use RSI, Bollinger Bands, and moving averages, some of the most popular technical indicators. It hasn’t been long since the Moonriver was listed on the exchanges. The chart below shows that the Moonriver price increase took off on high anticipation of the MOVR token being an attractive asset. This made the Moonriver MOVR price rise rapidly, creating a high in September 2021. Currently, there is a declining stage of the Moonriver coin, though if recovery is observed it might increase further in the short-term.
After forming the high in September 2021, the Moonriver price decreased for a bit, establishing a support level near the $240 price level. From here, the Moonriver MOVR price again takes off, trying to form a new high, creating the highest price at $495.71, making it the all-time high. It looks like the MOVR price is trying to form a good base before breaking out. The Accumulation/Distribution indicator shows that there is an interest in the asset since the up trending accumulation line represents the listing. The Moonriver price today is slightly above the 50-day moving average.
The above chart shows that the volatility was high in September 2021. On October 11, 2021, the volatility was the lowest since the listing of Moonriver, and the trading volume started to fall below the average trading volume. In the second half of October 2021, the Moonriver MOVR price began to surge again on high volume, increasing the volatility again and creating an overbought condition on the RSI indicator. The RSI is placed at 49.31.
The current price levels are quite stable with low volatility. It looks like the Moonriver token is trying to form a solid consolidation base before breaking out as per the Moonriver MOVR price prediction. It is most likely to happen on high volume, sending the MOVR price up in a single day for huge profit if this happens.
Trade Moonriver Now
Moonriver Price Predictions: 2022-2026
The Moonriver price forecast is based on past prices combined with predictive data modeling algorithms. Please note that the Moonriver Price prediction should only be interpreted as a suggestion or a definite indicator of the future price as the past price is only a tool.
It is impossible to predict the price of anything perfectly. But these serve as a tool, which can help improve the decision-making process. Regardless, adhering to proper risk management is considered responsible while investing. This is not financial advice, and any profitable investment system directly depends on risk exposure. The lowest possible level to enter a trade for Moonriver cryptocurrency will be difficult to identify. Traders and investors should do their own research before using any type of forecast system. The Moonriver crypto price prediction is as follows:
Moonriver Price Prediction 2022
As per the Moonriver forecast, the price of MOVR is predicted to reach a minimum level of $82.96. The Moonriver price can reach a maximum level of $95.47. The average price throughout the year will be around $88.36.
Moonriver Price Prediction 2023
The data predictions models based on the historical data, show that the price of Moonriver MOVR is forecast to reach a minimum expected price of $89.84, with a maximum price of $108.66 in the year 2023. The average trading price throughout the year is expected to be near the $99.00 price level as per our MOVR price prediction.
Moonriver Price Prediction 2024
As per the data and Moonriver price forecast models, the minimum level of the Moonriver coin prediction will be $82.71. The maximum price will be $126.42, with an average trading price of around $106.57 throughout 2024.
Moonriver Price Prediction 2025
According to the technical analysis for the year 2025, the minimum MOVR coin price prediction will be $117.27, and the maximum price level will be $150.03. The predicted MOVR suggests that the average price will be $127.19 in 2025 as per our Moonriver crypto prediction.
Moonriver Price Prediction 2026
A slight correction might be seen in the year 2026 as compared to 2025. The price predictions models show that the minimum price of Moonriver forecast is expected to be $109.75. The maximum price will be $134.13, maintaining an average price of $122.48 in the year 2026 based on the Moonriver MOVR price prediction.
Trade Moonriver Now
Frequently Asked Questions (FAQs)
Where to buy Moonriver coin?
You can buy Moonriver and sell Moonriver digital coins from Binance and KuCoin exchanges to invest. Because of the trading volume and liquidity, these are the best exchanges for buying the MOVR token. Decide the one that best suits your requirements.
How many MOVR tokens are in circulation?
Moonriver price equal to $67.61 as of today. The market cap of Moonriver stands at $252,519,458.42, with a fully diluted & huge market cap of over $676,978,987.99. The max supply is capped at 10,000,000 MOVR tokens, and the circulating supply is 3,730,093 MOVR tokens.
Is Moonriver a good investment?
The crypto predictions of MOVR suggest that it could be a valuable asset that can generate great returns, so hold on and don’t sell Moonriver. That said, it is good to have a fundamental understanding of the network and the value it can provide to make a calculated bet. Since the crypto space is crowded, it is still unclear whether or not it can be a valuable member of the ecosystem that could provide good to it. That said, it is not a bad investment either. With just technical analysis, it looks like MOVR has a good long-term earning potential. Even in the short term, the portfolio can benefit from a good return on Moonriver.
Is Moonriver safe?
The technology of cryptocurrencies is usually safe for investments because of the blockchain technology it utilizes. In the future, the foundation might even opt-in for an audit to verify the platform’s reliability they have developed. Moonriver is not just safe but it will definitely be a profitable new addition based on the current market and forecast.
Source link: https://www.cryptonewsz.com/forecast/moonriver-price-prediction/