Ravencoin has been on a journey of breaking barriers. The bulls have not been afraid to fly their flag high in the cryptocurrency space. Ravencoin has been towering the crypto landscape since the beginning of October. RVN/USD has corrected higher 70.58% since October first. Initially it was the hype surrounding the launch of the mainnet for assets as reported by Crypto Recorder.
However, the high trading volume and the increasing market cap have found a support in the recent RVN/USDT trading pair on Bittrex exchange. The listing came at a time when Ravencoin bulls were looking for an anchor following the ballistic move they stage in the last three weeks. Bittrex exchange also added BAT/USDT trading instrument at the time. The two markets are already open for trading at the moment. The Twitter announcement read:
“New Market Update: The USDT-RVN and USDT-BAT markets are now open for trading on @BittrexExchange. For more information about Ravencoin (RVN) visit: https://ravencoin.org/ and Basic Attention Token (BAT) visit: https://basicattentiontoken.org/.”
Furthermore, Ravencoin is likely to continue performing exceptionally well in the days before and after October 31 when the protocol for the asset layer will be launched. The launch also marks a one-year anniversary since the inception of Ravencoin. Importantly, it will be the 10-year anniversary since the start of Bitcoin (BTC). The Ravencoin team continues to encourage the crypto community to take advantage of the simplified token development. A Twitter message in regards to this states:
“Ravencoin is not a company or service provider but a protocol. Anyone wishing to offer consulting, token creation, tech or compliance services using this free software is welcome. The Ravencoin protocol itself will not recognize things like identity or legal securities status.”
In addition, the team clarifies:
“Ravencoin is ONLY a base layer protocol. You WILL NOT be able to issue compliant securities tokens on the platform by itself— it just allows you to issue a token – that could be whatever type of token you want but you’d need to go to a company or service provider for a security.”
The Ravencoin community and the developers in the industry have been very receptive of the soon to launch protocol. ‘DrP’, a user said via Twitter “Great point but their is a very big world outside and this will just make the whole process so much easier and more efficient. Tokenize the world we say.”
About Ravencoin (RVN)
Ravencoin is a cryptocurrency project that is revolutionizing token issuance in the cryptocurrency community. The original Ravencoin code was a hard fork of Bitcoin. However, the developers made a few changes to the code. For instance, there is a 21 billion fixed cap on the supply of the token, block times take roughly 10 minutes to process while 5,000 RVN are given as reward to the miners. The team maintained the same halving schedule used in Bitcoin.
The platform allows users to create tokens for various purposes including securities, gaming, collectibles and anything of value to the creator. The creator has been given the mandate to determine the purpose for which he/ she is developing a token. The developers also have the opportunity to put a fixed lock on the token created to ensure that no more tokens are added to the supply.
Ravencoin is currently trading at $0.0529 and is up 19.19% in the last 24 hours. The $110 million digital asset is ranked 60th in the market on Blockmodo. Ravencoin (RVN) has a 24-hour trading volume of $96 million. The circulating supply is 2,095,440,000 RVN at the time of press.