The cryptocurrency market has been heading south in the past few weeks, with Bitcoin (BTC), Ethereum (ETH), and many other leading assets being among the losers.<\/p>\n
However, some lesser-known tokens have been on a winning streak. River (RIVER), for instance, has posted a staggering increase of more than 2,000% over the past 30 days.<\/p>\n
RIVER saw the light of day in September last year, but it made the headlines in the past weeks thanks to its whopping price ascent. Currently, it trades at around $83 (per CoinGecko\u2019s data), meaning a gain of 2,020% on a four-week scale.<\/p>\n
Its market capitalization has soared past $1.6 billion, making RIVER the 64th-largest cryptocurrency and flipping well-known altcoins like Ondo (ONDO), Aster (ASTER), Pi Network (PI), Worldcoin (WLD), and others.<\/p>\n
One potential reason for the rally could be the solid support from numerous exchanges. HTX (formerly Huobi)\u00a0listed<\/a>\u00a0RIVER in its Innovation Zone, while South Korea\u2019s Coinone also\u00a0launched<\/a> trading services for<\/span> the asset.<\/p>\n Another factor that may have positively impacted the token\u2019s price is the $12 million strategic round, which River recently closed<\/a>. The financing supports the entity\u2019s expansion across EVM and non-EVM ecosystems, including TRON, Sui, and other major networks.<\/p>\n \u201cProceeds will be used to accelerate ecosystem deployments, deepen stablecoin liquidity, and advance satUSD integrations across trading, lending, staking, and yield use cases,\u201d the disclosure reads.<\/p>\n River also announced that it will introduce yield products for both users and institutions, including Smart Vault and Prime Vault. Some participants in the funding round include Arthur Hayes\u2019 Maelstrom Fund and Justin Sun\u2019s TRON DAO.<\/p>\n Some analysts think RIVER has much more fuel left to chart additional increases. X user Shuarix predicted<\/a> a pump to $100, whereas Crypto_Jobs thinks<\/a> the price can reach that milestone only if it holds the $68-$70 support zone.<\/p>\n At the same time, many others believe a painful crash could be knocking on the door. X user Erik said<\/a> 94% of RIVER\u2019s total supply is held by just five wallets, arguing:<\/p>\n \u201cAfter massive manipulation and bubble phase, we\u2019ll see a glorious dump.\u201d<\/p>\n Honey was also skeptical, claiming<\/a> that the project resembles previous rug pull schemes and warning investors to be utterly cautious.<\/p>\n The post River (RIVER) Explodes by 2,000% in a Month: Further Gains or a Ticking Bomb?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency market has been heading south in the past few weeks, with Bitcoin (BTC), Ethereum (ETH), and many other leading assets being among the losers. However, some lesser-known tokens have been on a winning streak. River (RIVER), for instance, has posted a staggering increase of more than 2,000% over the past 30 days. A […]<\/p>\n","protected":false},"author":0,"featured_media":130073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-130072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/130072"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130072"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/130072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/130073"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Further Gains or\u2026?<\/h2>\n