RIVER (River) rose 87.60% in 24 hours

Gate News Bot news, on October 23, according to CoinMarketCap, as of the time of publication, RIVER (River) is currently priced at $9.06, having risen 87.60% in the last 24 hours, with a high of $9.11 and a low of $2.72. The current market capitalization is approximately $178 million, an increase of $82.9 million compared to yesterday. Currently, RIVER ranks 234th in global Crypto Assets market capitalization.

Important news about RIVER recently:

1️⃣ Dynamic Airdrop Conversion mechanism successfully implemented The Dynamic Airdrop Conversion mechanism launched by the River project went live simultaneously with the TGE, allowing over 100,000 addresses to qualify for receiving River Pts. This mechanism aims to enhance the fairness and participation of token distribution, injecting vitality into the RIVER ecosystem, helping to expand the user base and increase community engagement. The successful implementation of this innovative mechanism provides strong support for the significant rise in RIVER prices.

2️⃣ The demand for River Pts conversion remains strong As of now, approximately 11 million River Pts have been successfully converted into 10,755 RIVER coins. This data indicates a high level of recognition for RIVER coins within the community and strong conversion demand. A large number of River Pts holders have chosen to convert them into RIVER coins, reflecting the market's confidence in the RIVER project, which is one of the key factors driving the RIVER price to rise 87.60% within 24 hours.

3️⃣ River Pts value steadily rising On the 25th day after the TGE, the trading value of 1 million River Pts has approached the theoretical conversion value on the 35th day, which is about 13,000 USD. This phenomenon reflects the market's positive expectations for the future value of the RIVER token, while also indicating that River Pts holders are motivated to continue holding or converting to RIVER tokens, providing continuous support for the RIVER price, which has led to a significant rise in its market capitalization by 82.9 million USD in a short period.

From a technical perspective, RIVER has seen a significant rise in the past 24 hours, with a large price fluctuation, rising from a low of 2.72 dollars to a high of 9.11 dollars. This drastic price fluctuation indicates that the market's interest in this token is rapidly increasing, but it also signifies potential high risks. Investors should closely monitor market changes and carefully assess investment risks.

This message is not intended as investment advice, and investors should be aware of market volatility risks.