The cryptocurrency River (RIVER) has rallied strongly despite broader market weakness, gaining over 21% on January 25. This surge occurred as Bitcoin fell below $90,000. The token’s momentum follows a recent listing on the South Korean exchange Coinone and a strategic $8 million investment from TRON founder Justin Sun. Analysts have warned the price move may not be organic, noting futures volume was 80 times spot volume on January 21, but RIVER has climbed roughly 70% since that caution.
The River token continued a steady bullish advance over the weekend, rallying 21.37% on January 25. This occurred while **Bitcoin** slumped below $90,000, losing 2.87% in the past 24 hours.
Some of the token’s gains were attributed to its spot listing on the South Korean exchange Coinone. Former BitMEX CEO Arthur Hayes had also backed the token to reach $100.
The price reached a high of $67.56 on January 23 but later fell to $30.5. Bulls have since reclaimed the $67.5 high once more.
Onchain analytics according to Etherscan were inconsistent, with one explanation being that much of the chain abstraction protocol’s activity occurs on Layer 2s. Selling pressure from a token unlock on January 22 was absorbed, which was seen as a strong bullish sign.
CoinGlass warned traders on January 21 that futures volume was 80x the spot volume. “This kind of move is not organic. It is engineered,” the post stated.
TRON founder Justin Sun has committed $8 million in a strategic investment in the DeFi Protocol. This capital supports the integration of TRON and the deployment of River’s chain abstraction stablecoin infrastructure, according to River’s announcement.
