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RIVER token surges 830% in one week, BitMEX co-founder fund makes strategic investment in Chain Abstract stablecoin leader
【Blockchain Rhythm】River has been making waves these days. The RIVER token has hit new highs for several consecutive days, breaking through the $25 mark, with a weekly increase of up to 830%. The total network trading volume has soared to $3 billion. The most intense activity is on a major exchange’s derivatives platform, where the 24-hour trading volume exceeds $1.7 billion, ranking just behind top-tier coins like BTC and ETH. It has also entered the top 5 in trading volume on several mainstream derivatives platforms.
What is the driving force behind this? Maelstrom Fund, founded by Arthur Hayes, co-creator of BitMEX, announced a strategic investment in River. This investment is mainly aimed at supporting River in expanding the scale of its chain-abstracted stablecoin system, promoting ecosystem development and on-chain capital circulation.
What are River’s innovations? As the first chain-abstracted stablecoin protocol, it allows users to deposit mainstream assets like BTC, ETH, and BNB on one chain, then directly generate native satUSD stablecoins on other chains, enabling seamless participation in various yield opportunities. Currently, this stablecoin has integrated with over 30 ecosystem protocols, including Morpho, Pendle, ListaDAO, and other leading projects, with deployment covering major public chains such as Ethereum, BNB Chain, and Base. Data shows that the protocol’s TVL has exceeded $300 million, and the circulation of satUSD has also surpassed $100 million.