Ravencoin (RVN) Price Defies Gravity with Record Surge
The rally of RVN continued over the past month, as the asset sets records in both dollar and BTC prices.
Ravencoin (RVN) is going through its unique “altcoin season” by setting records both in dollar terms and in Bitcoin (BTC) prices. The asset, which will aim to usher in an ecosystem of security tokens and tickers, is going through a rally boosted by increasing interest.
The rally received an additional push from the news of a Binance partnership with Overstock’s Medici Ventures, extending the potential influence of Medici’s regulatory and compliance platform for digital assets. Ravencoin is also partnering with Medici Ventures, thus extending its influence in the ecosystem of transparent and compliant asset tokenization.
RVN traded at $0.062 as of 6:20 UTC on Thursday, after reaching temporary highs at $0.068 in the preceding hours. Volumes were above $60 million in 24 hours. In only a month, RVN reached the current record levels from recent lows around $0.01. In BTC terms, the price rallied from roughly 350 Satoshi up to 1660 Satoshi.
The exact cause of the rally is still unclear, as RVN is having significant representation on Binance, as well as DigiFinex. Almost all RVN trading is in the pairing with BTC, as the stagnant price of the leading coin causes traders to search for more active assets. Binance is also key to boosting some coins, as in the past a handful of assets have rallied against the trend for months.
Because of the price movement in Satoshi, an extended rally is expected, as BTC is overlooked for a potentially lucrative selection of altcoins.
The Ravencoin ecosystem is using the open-source, voluntary participation approach to building a system for tokenizing real-world assets. The Ravencoin system allows anyone to reserve a ticker through the in-wallet infrastructure.
In the future, the next milestone for Ravencoin is to add the opportunity for dividends payment, with an expected deadline of about two weeks:
After reaching rank 33 on CoinMarketCap, RVN is becoming one of the more promising assets, boosted by active developments.