Revain Bucks Trend With 24% Jump Amid Downturn; Added to Exodus Wallet
The review-focused altcoin, Revain (R), saw 24% gains on Black Friday while Bitcoin and the majority of coins and tokens continued to fall. The token recently gained compatibility with the Exodus wallet, as announced Friday.
Revain launched in 2017 amid some clear skepticism regarding what some saw as an unnecessary application of blockchain technology. Following the ICO, Revain floated away from the spotlight, and stayed away until a sudden surge from Q3 into Q4 which saw the ERC-20 token almost treble in value.
The token’s continued rise into Q4 saw it propelled into the top sixty most capped cryptocurrencies – helped by the slow bleed out of the coins surrounding it.
However, the vast majority of the token’s movements have emanated from just one exchange – BTC-Alpha. During R’s surge in early November, the token’s trades made up $4.5 million of the exchange’s total $4.7 million volume. Since then, that singularity has become less severe, but 88% of Revain’s trades are still coming from there.
That’s despite Revain having a presence on several popular exchanges, such as OKEx, HitBTC, and Kucoin.
In their own words, Revain is a:
“…new generation feedback platform, mostly based on the blockchain technology that doesn’t allow to change or delete reviews and its authors get a reward for creating it.”
A combination of AI algorithms and manual filtering ranks reviews, pays users for writing helpful reviews, and marginalizes unhelpful reviews. The technology was recently added to BTC-Alpha (the exchange which is fuelling all of ‘R’’s movements), where it gained its first real-world application.
Added to Exodus Wallet
Revain’s addition to the Exodus wallet was announced Friday, and was accompanied by a step-by-step guide detailing the setup process for Revain holders.
The token is already supported on Ledger and Trezor hardware wallets, and its ERC-20 foundation makes it compatible with MyEtherWallet.
Revain Price Update
Friday morning’s dip carried Revain down to a trough of $0.134838 by around 07:00 UTC. By twelve hours later on the value of ‘R’ had climbed 24% up to a price of $0.167640, with only a slight pullback to the $0.163 range when the momentum cooled.
The token had previously fallen with the rest of the market, and had sunk 30% since Monday of this week, and 44% since November 10th – less than two weeks ago.
Even after today’s 24% surge, the token is still down a staggering 96% since the all-time high of February 18th, when R was briefly being bought and sold for $4.49.
Revain was the best performer in the market cap top one hundred for the previous twenty-four hours, accompanied only by serial pump and dump artist, Bitcoin Diamond (BCD), and blockchain-as-a-service coin, Ardor (ARDR).
Disclaimer: 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.