The small cryptocurrency project built on top of Kusama (KSM) exploded by more than 188% this week amid broader momentum from Polkadot (DOT) ecosystem projects.
Moonriver (MOVR) is an Ethereum (ETH) compatible parachain built on Kusama.
The project serves as a canary network for testing the code of Moonbeam (GLMR), a smart contract platform for cross-chain connected applications.
As of this writing, MOVR is trading at $29.16, up from $10.12 a week ago. The 201st-ranked cryptocurrency asset by market capitalization also rose more than 36% in the past 24 hours.
MOVR’s gains have materialized amid a broader upward trend in the Polkadot project. Kusama, Polkadot’s canary test network, also rose significantly this week. The project’s native token, KSM, is trading at $50.01 at the time of this writing after rising more than 52% over the past seven days.
Moonbeam’s underlying asset, GLMR, is trading at $0.47 at the time of this writing. The 158th-largest cryptocurrency asset by market capitalization is up more than 24% in the past week.
DOT itself has been trading sideways this week, but is up more than 60% in the past month.
According to the cryptocurrency analytics firm, the Polkadot ecosystem is one of the most active in terms of development activity. st tly.
The smart contract platform and Kusama each registered 357.8 noteworthy GitHub commits in a 30-day period between late November and late December, tied for second place among all cryptocurrency projects. Only fellow Ethereum rival Cardano (ADA) has more commits with 540.
Santiment says it doesn’t count routine updates and only collects data about “true” GitHub commits using “advanced methodologies.”
The company says the high level of development activity can indicate that developers have confidence in the longevity of the blockchain and that new features may soon be coming to the project’s ecosystem.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us TwitterFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney