A small-cap crypto project built on Kusama (KSM) has exploded by more than 188% this week amid widespread momentum among Polkadot (DOT) ecosystem projects.
Moonriver (MOVR) is an Ethereum (ETH)-compatible parachain built on Kusama.
The project serves as a canary network to test code for Moonbeam (GLMR), a smart contract platform for cross-chain connected applications.
MOVR is trading at $29.16 at time of writing, up from $10.12 one week ago. The 201st-ranked crypto asset by market cap is also up more than 36% in the past 24 hours.
MOVR’s gains materialized amid a wider uptrend for Polkadot projects. Kusama, Polkadot’s canary test network, is also up big this week. KSM, the project’s native token, is trading at $50.01 at time of writing after gaining more than 52% in the past seven days.
Moonbeam’s native asset, GLMR, is trading at $0.47 at time of writing. The 158th-ranked crypto asset by market cap is up more than 24% in the past week.
DOT itself has traded sideways this week
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