Ravencoin Surges 865% As The Interest In Tokenized Securities Grows

Ravencoin surges 865% as of late with the controversies over traditional brokerages restricting the stock purchases throwing some light on the tokenized securities and projects like Ravencoin so let’s read more in our latest altcoin news.

Ravencoin surges higher this month thanks to the new fresh wave of buying volume that lifted the token price by more than 800% in the past 20 days. The data from Tradingview shows that the RVN coin rose to a new ATH of $0.189 with $1.28 billion in the past 24hours. Looking at the coin’s Twitter feed shows an increase in activity from the account starting at the end of January when the project tweeted:

 “Stock markets are transforming. Ravencoin is here for those who want to build services or issue assets.”

The traditional financial markets were under heavy pressure at that time because of the Wallstreetbets and the GameStop frenzy which led to brokerage companies suspend access to multiple stocks:

 “Ravencoin was specifically designed and developed with securities as a major use case. Specifically, the problems being seen in public markets due to bad ledgers may be solved by distributed ledger technology.”

RVN hit $0.036 following the tweet before entering the new correction phase which pushed the price to as low as $0.023.The data shows there’s a bullish outlook for Ravencoin before the recent rise. The trading volume for RVN continues pushing to new highs alongside the price that started rising and lifted its market cap to $1.2 billion making Ravencoin the recent addition to the growing list of crypto unicorns.

Other coins like Uniswap and Compound slip lower in price along with other Defi coins as well, despite the strength in ETH’s and BTC’s price. The data from Uniswap indicated that against the US dollar, coins like Uniswap and Compound as well as Yearn.Finance’s YFI slipped lower by 1-5% in the past day. the move lower could be a result of the overall trend of consolidation that is seen in the market over the past week. After the strong breakout that started a month ago, the DeFi market cooled rapidly. The DeFi market is stumbling as the key market players didn’t react well to the latest push by Ethereum to a new all-time high.