Ravencoin (RVN) Just Hit a Record High: Should You Buy?

Ravencoin (RVN), the peer-to-peer blockchain designed to transfer assets from one party to another, is once again defying gravity. The RVN cryptocurrency hit a record high on Wednesday and was still maintaining double-digit growth as excitement over security tokenization continues to grow.

RVN Price Analysis: Truly Remarkable Growth

Ravencoin has largely flown under the radar this year as investors fixated on the remarkable growth of Litecoin (LTC) and Binance Coin (BNB). RVN has outpaced its larger-cap peers, growing 441% since January 1.

On Wednesday, the RVN price peaked at a new record high of $0.0729. That represents a gain of 700% from its record low on February 6. At last check, RVN was valued at $0.0657 for a gain of 20.8%. No other cryptocurrency even came close in terms of growth.

At current values, the Ravencoin network is valued at $210.3 million, according to CoinMarketCap. That puts it in 32nd spot among active cryptocurrency projects and just $12 million shy of Crypto.com Chain (CRO). At the start of the year, Ravencoin was ranked 94th by total market cap.

Since the year began, RVN trade volumes have increased from $1 million to around $83 million. Binance is the biggest market for RVN trades, accounting for more than a third of the daily volume. DigiFinex and UPbit are the other major venues offering the cryptocurrency.

Should You Buy RVN?

Tokenization was one of four “future-proof” investment ideas Hacked presented on Wednesday to help investors prepare for a possible recession or bear market. The idea is that tokenization of financial and real assets will upend our traditional understanding of ownership rights and allow investors to access markets represented by tokens. For example, instead of investing in rental property, you can buy shares of that property and profit from its proceeds. Read more: Four Future-Proof Investments for Your Portfolio.

“So, what’s the big deal behind tokenization? We’re not referring to any one particular company or asset but the concept of transforming real-world assets into digital tokens. This process extends far beyond what initial coin offerings and blockchain startups are doing but for investors, this domain might be the best place to start. Platforms and service providers that allow you to invest in real assets through a tokenized share and track the performance of your profit are the most likely to offer value.”

Ravencoin’s tokenization platform launched in January. As a fork of the bitcoin code, the Ravencoin blockchain allows businesses to launch security tokens with a built-in ability to pay dividends using the RVN cryptocurrency. Tokens issued on the Ravencoin blockchain can represent real-world custodied assets or digital assets.

The protocol has already earned a good reputation for its ability to handle a different range of assets and tokens. Its proponents say it goes beyond Ethereum with its ability to differentiate assets and regular transactions. Ravencoin also has the ability to carry messages between users, making it easier to facilitate contracts and agreements. Read more: Why Investors Should Pay Attention to Ravencoin (RVN).

Despite recording massive growth in the last three months, RVN is still an attractive investment as far as price goes. A $500 investment in RVN gets you 7,692 tokens. Keep in mind that RVN has a total coin supply of 21 billion compared with 21 million for bitcoin. The current circulating supply is 3.2 billion.

Given its current price and value proposition, RVN appears to be a low-risk, high-reward project that can really take off if tokenization takes root.

Disclaimer: The author has no investment stake in Ravencoin. The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Chief Editor to Hacked.com and Contributor to CCN.com, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi