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Is it worth it to invest in MOVR cryptocurrency in 2024?

Updated: Apr 16


Publication date: 28.02.2024


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An introduction to Moonriver


The Moonbeam concept was made in June 2021 and consequent to this, Moonriver was established. Moonriver was introduced in January 2022 to be an Ethereum-compatible blockchain environment on the Kusama network - a scalable network of specialized blockchains. MOVR was created with the goal of acting as a parachain in the Kusama cluster, helping crypto projects expand their reach to new users and new markets.


In addition, Moonriver is intended to be a smart contract platform, prompting developers to rearrange their Ethereum DApps in a basic environment with minimal friction before releasing them to the public.



Moonriver as a canary network of Moonbeam


Kusama is the ‘playground’ for Polkadot, so there are several layers of risks stacked on top of each other, first is Polkadot then there’s Kusama then there’s Moonriver. The new code ships to Moonriver first and once proven after verifying under the real economic conditions, the same code is shipped to Moonbeam, as MOVR is the experimental chain of it.



The process followed in the picture above is:


•        Initially, redistribution of existing Solidity smart contracts using tools such as Remix, Hardhat, Waffle etc.


•        Afterwards, the expansion and access to the growing database on Kusama becomes easier.


•        Wrapped tokens are moving between Moonriver and other parachains via bridges. The creation of multiple bridges is currently in progress.


•        Existing deployments will eventually be connected via bridges.


Nowadays, MOVR is gaining popularity and many people are considering investing in it. Would this be a smart move? A variety of research has been carried out on this topic and it all seem to converge. 


Investing in Moonriver in 2024


According to past week’s data, MOVR coin market cap is following an upward trend, showing strong capabilities. Although the last 2 months have fluctuated a lot, which might seem daunting, it seems like a siren’s call for traders who recognize great potential and know how to navigate stormy waters. The burst of growth this currency has experienced the last semester is not just a flash in the pan but a signal of its burgeoning vibrancy.


According to the technical analysis of Moonriver prices expected in 2024, the minimum level of Moonriver will be $33.The maximum cost of the MOVR price can reach is $38. 


Moonriver long-term price prediction


Based on the historical price movements of Moonriver, the yearly low price prediction for 2025 is estimated at $ 24. Meanwhile, the price of Moonriver is predicted to reach as high as $ 177 next year. Using the same technical analysis, the prediction of the highest prices (rounded) for the next years until 2030 is:


Year

Highest Price

2025

$177

2026

$154

2027

$73

2028

$126

2029

&122

2030

$220


Conclusion


Taking everything into consideration, it is worth investing in MOVR cryptocurrency in 2024 and waiting patiently for the next years since by advancements in technology and increasing acceptance of cryptocurrencies by institutions and governments, Moonriver Coin could see a significant increase in value apart from the price increase.


Invest in MOVR on Binance - the safest cryptocurrency exchange platform.




 

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