😱🚨Justin Sun Invests in Altcoin Platform, Volumes Explode: Price Soars!🚀🚀
Following the investment of Tron founder #JustinSun in River Protocol, the price $RIVER soared, attracting the attention of analysts due to the excessive leverage in transaction processing.
River Protocol, a prominent platform in decentralized finance, made headlines this week with a significant development. Justin Sun announced on Wednesday that he had invested $8 million in the project. However, just one day later, the token #RIVER attracted attention with its strong upward movement.
According to River Protocol, this investment aims to provide a deeper integration with the Tron ecosystem. The project develops chain abstraction, aiming to disrupt the liquidity of stablecoins across different blockchains. The system, implemented in August, features the omni-chain stablecoin satUSD. Thanks to this model, collateral deposited on one network can be used to mint stablecoins on another network. This structure allows users to store assets with opportunities for returns and leverage across different ecosystems.
Following the investment, the River team announced plans to take new steps in areas such as stablecoin pools with USDT and USDD, a lending and borrowing unit on JustLend, and price feeds from WinkLink. They also target TRX and other Tron-based assets, including Smart Vault and Prime Vault.
Futures Raise the Alarm
The day after the funding announcement, the price of RIVER skyrocketed by 24% to $48, reaching an all-time high. However, this increase raised more questions. CoinGlass, known for its on-chain market data and derivatives, reported that the futures volume of RIVER was approximately 80% higher than the spot volume.
$TRX $RIVER
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