- River’s price surged sharply as bulls pushed back against the broader market decline.
- The token exploded more than 40% in 24 hours to reach a new all-time high above $87.
- RIVER recently gained backing from Justin Sun and Arthur Hayes.
Several altcoins are in the red amid a wider cryptocurrency market pullback that has pushed Bitcoin below $90,000.
But while BTC struggles, River’s native token, RIVER, has defied the trend, rising roughly 40% in the past 24 hours to set a new all-time high above $87.
This move places the token among the best performers in the altcoin sector.
River price rockets to a new all-time high
River is a crypto protocol building an on-chain stablecoin abstraction platform.
The protocol has gained traction across the ecosystem thanks to its liquidity and yield offerings.
RIVER, the protocol’s native governance and utility token, has seen substantial gains in recent days, jumping roughly 40% in 24 hours and breaking resistance to hit a new record high.
The token has climbed more than 200% over the past week and over 2,070% in the last month.
It reached a peak of $87.79 on major exchanges on January 26, 2025, a dramatic rise from the lows recorded in September 2024.
The explosive rally coincided with the token’s market capitalization surpassing $1.6 billion, reflecting strong demand and a 39% increase in daily trading volume.
Data from CoinMarketCap shows the altcoin’s trading volume surged past $108 million in the past 24 hours.
Meanwhile, total value locked (TVL) rose to more than $162 million as DeFi users flocked to the protocol’s cross-chain offerings.
In terms of returns, River’s performance starkly contrasts with prevailing market sentiment.
Bitcoin, the benchmark asset, dipped below $88,000 amid macroeconomic jitters.
Ethereum and other altcoins followed suit as rising risk-off sentiment weighed on traders.
Those same headwinds could also trigger a sharp reversal in RIVER’s price.
What drove RIVER’s price surge?
Potential catalysts behind RIVER’s meteoric rise include fresh listings and a major funding round that brought high-profile backers.
Of the more than $14 million raised, roughly $12 million came from a strategic funding round supported by large investors that included TRON DAO, Justin Sun, Arthur Hayes—the founder of Maelstrom Fund—and The Spartan Group.
Notably, the round also featured commitments from Nasdaq-listed companies and top-tier institutions in the United States and Europe, lending unprecedented credibility to River’s vision.
River plans to deploy the capital toward multi-chain expansion, with DeFi applications on Sui, Ethereum, BNB Chain and Polygon.
New exchange listings have amplified the token’s momentum.
Both HTX and OKX added liquidity and retail access to the token. Bulls have capitalized on this by accumulating positions and increasing open interest in RIVER perpetuals.
Resistance sits near $90, but with funding secured and listings active, RIVER could test $100 in the coming days. That said, a sharp pullback is possible as traders take profits.