River Crypto Token Up 1,900% in the Last Month—What's the Deal?
The River (RIVER) crypto token has surged over 1,900% in the past month, rising from about $5 in December to over $82, and reaching a market cap of $1.6 billion, making it the 67th largest cryptocurrency. River is a multi-chain stablecoin abstraction platform aiming to eliminate the need for bridging stablecoins across blockchains. High-profile endorsements from Tron founder Justin Sun, who invested $8 million, and BitMex founder Arthur Hayes have increased interest in the token. RIVER’s price climbed sharply even as the wider crypto market declined, gaining 168% in the past week and hitting a record high above $87. Blockchain analytics firm CoinGlass cautions that RIVER’s price action may be influenced by funding rate mechanics that encourage consensus long positions, presenting potential risks for traders. Currently, River has $161 million in total value locked, while its over-collateralized stablecoin, satUSD, holds a market cap of $159 million.
