Ravencoin Price Surges 94% After Listing On Upbit Exchange

RVN, the native token of Ravencoin, a blockchain dedicated to creation and peer-to-peer transfer of assets, saw an astronomical surge of 94% just hours after it was listed on Upbit exchange, even as Bitcoin dropped below $105,000 on Thursday.

Upbit exchange announced listing of Ravencoin on Wednesday with 5 pm Korean Standard Time (KST) as scheduled for transaction support start time. Fans of Ravencoin showed their excitement on social media as news broke out of the token getting listed on Upbit.

The surge in interest around $RVN after Upbit listing has made the token outperform the entire crypto market on Thursday, which is down by 3%.

According to data on Coingecko, the price of $RVN reached $0.0217 with a massive 94% surge in less than 24 hours, after South Korean exchange listed the token on Thursday. At the time of publishing of this report, $RVN is priced at $0.019.

When it comes to daily trading volume, Ravencoin saw $75,026,484 in the past 24 hours, registering a mammoth 721.60% increase when compared to previous day. The market cap of $RVN is at $289 million while the total token supply has been fixed at 15 billion.

Meanwhile, Bitcoin dipped below $105,000 on Wednesday recording a marginal decrease of 0.8% in the past 24 hours with $24.79 Billion as daily trading volume. The overall crypto industry has also witnessed a downfall of 3% on Thursday with overall market cap of $3.4 trillion and 24-hour trading volume of $92.14 billion. Experts have pointed out towards ongoing tariff tensions between U.S. and China as a major reason behind global markets slump including crypto industry.

With Korea’s largest exchange Upbit officially listing Ravencoin, fans are now speculating whether $RVN would be able to maintain the hype that has been built around it, especially when the crypto market is down.