Ravencoin (RVN) is among the best performers in the market on Thursday 18. The digital asset has corrected higher considerably in the last 24 hours. Following a 31.97% surge against the U.S. Dollar and 32.62% against Bitcoin (BTC), Ravencoin is exchanging hands at $0.0314. The 24-hour exchange trading volume has increased by 79% to $37 million in the last 2 days. In the same period the market capitalization has gone up from $37 million to the current $64 million.
The listing on Binance, the largest exchange by trading volume on October 12 is the main reason behind the pump in Ravencoin price. In fact, at the time of writing the markets section on CoinMarketCap indicates that Binance exchange controlled at least 89.97% of the above mentioned volume in RVN/BTC trading pair. In less than a week since the listing on Binance, Ravencoin has shown incredible growth in both the token price and the crypto’s market capitalization. The exposure the asset has had on Binance has been immense. Likewise, it has zoomed into the top 100 coins to rank as the 92nd cryptocurrency according to the data on CoinMarketCap.
The Ravencoin team announced on September 30 that the mainnet for the asset issuance capabilities would be launched towards the end of October 2018. The protocol is still in development a couple of weeks to the release date. The Twitter announcement read:
“Mainnet for the asset issuance capabilities of the Ravencoin platform should be launched in one month. Be ready to reserve your unique asset/ token/ project names. Name reservation is first come, first serve and cannot be reassigned by any central party once reserved.”
In the new asset layer protocol, developers do not need permission to create and issue an asset. Building on Ravencoin blockchain is open to anybody, besides developers have been allowed to use most of the tools including the second layer solutions. On October 14, the team announced the date for the release of the mainnet for assets. The event has been scheduled to take place on October 31. According to the announcement users have been encourage to join the testnet that is currently available in readiness for the live asset issuance.
“Asset names will be unique with properties (supply etc) created by the issuer. Control of the assets will be transferable.” In addition, “The process to create an asset will be: – (a) download Ravencoin core wallet (b) – create assets in wallet (this is on test net now). No agreement/ permission needed.”
About Ravencoin (RVN)
Ravencoin (RVN) refers to a digital asset project that has been designed to bring forth peer-to-peer electronic transfer of assets. It is a privacy-focused coin like Monero (XMR) although Ravencoin mainly focuses on asset transfer using its protocol. The protocol is making it easier for people to do asset transfer of real-world valuables such as gold and even land deeds. Moreover, other digital assets like gaming items and software licenses can also be created and exchanged with Ravencoin protocol. A statement on the website states:
“Ravencoin aims to implement a blockchain which is optimized specifically for the use case of transferring assets such as tokens from one holder to another”