An altcoin making great news in the Crypto markets is RavenCoin. The Digital asset has Skyrocketed over 50% in the last 24 hours, gains were based on the latest announcement that the asset issuing- mainnet – would be launched by end of October 2018.
Yesterday, the small coin, which holds immense potential for growth, closed 31.97% higher against the US Dollar and by nearly same percentage of 32.62% against big-performing coin Bitcoin (BTC). High volume trading was also reported, and Ravencoin was found reaching 79% to $37 million in past 48 hours. For the same period, market capitalization nearly doubled from $37 million to $64 million.
As the Peer-to-peer payment platforms mature, newer and more sophisticated assets are also ascending the disruptive blockchain ecosystem. One of the most popular products to have caught the eye of investors, traders has been Ravencoin (RVN) which categorizes itself as a digital asset project supporting electronic (peer-to-peer) asset transfer. It hopes to capture Gold and Land deed asset transfers in the near future.
Pump at Binance
Thus far, Thursday was a blockbuster day of sorts for Ravencoin when it turned out to be one of the best performers. The run up to Thursday and to yesterday’s performance was the high trading volume on October 12, after being listed at one of the largest exchanges for crypto trading Binance.
Ravencoin prices gained substantially on a technicality called the ‘pump.’ As much as 89.97% of the volume between trading pair – RVN/BTC occurred on Binance, according to news reports from CoinMarketCap.
In a week of listing at Binance RavenCoin has climbed up the coin ranks. It now stands at a demure 92 of Top-100 listed coins (CoinMarketCap).
New Asset Layer
Ravencoin has moved towards the new asset layer protocol and this has changed the manner in which the asset is issued considerably. The new framework does not require that the developers take permission for issuing the coins.
This altcoin is a new player in the crowded space of maturing coins, but offers a lot more in terms of technology since it offers ‘open’ build opportunity for anybody to utilize tools like the second layer solutions on the Raven blockchain.
For those interested in this asset, the process is very simple – use the core wallet (download) and follow-up with creating the asset, thus liberating the user from having to see permission prior to building the asset.
The mainnet is currently in ‘testnet’ phase in order to help ease into live asset issuance by October 31. The announcement made by Ravencoin thus far is that the issuer will have control on generating unique asset names as well as supply and transfer of assets.