Small-Alt Crypto Winners: Ravencoin, Kucoin Shares and Aurora Hit 20-30% Daily Growth
Small-alt season continued this week as three more small-cap cryptocurrencies stuck their heads above water on Thursday. Kucoin Shares (KCS) and Aurora (AOA) gained more than a fifth of their value for the day, while Ravencoin gained 32% in a week which has seen 163% growth for its RVN coin.
Ravencoin Price – RVN/BTC
From Wednesday’s daily low of $0.026177, the RVN coin price went on a 32% tear that landed at a valuation of $0.034663 by Thursday evening.
Calling Wednesday’s price point a ‘low’ hardly seems fair since Ravencoin has been climbing all week. In retrospect, the coin price of $0.013161 a week ago marked an opportunity for 163% growth for anyone who was holding RVN during that period.
Over 96% of RVN trades went through BTC on Thursday, and by now Ravencoin has found representation on several prominent exchanges, including Binance, Upbit, Bittrex and DigiFinex. That’s a rare feat for a coin which only burst onto the scene at the end of last year (although it had officially launched almost twelve months before).
In a remarkable display of rare honesty in the crypto space, the Ravencoin team took to Twitter today to warn people about the dangers of FOMO:
“PSA: If RVN goes up in value it doesn’t mean you should buy.
Greed and FOMO makes portfolios rekt!
Instead download a wallet, test it out, try the software, move some assets around, read & learn. Crypto is very speculative & you can lose everything you invest! Be cautious!”
Kucoin Shares Price – KCS/USD
It was a busy day over at the Kucoin exchange in the last twenty-four hours. First the team announced they would be supporting the IOST mainnet launch and token swap. The launch initiated at the end of February, and the IOST token price started pumping weeks before in anticipation.
Kucoin also announced a trading competition on its platform for AVA holders. AVA is the native token for the Travala.com project – a blockchain-based travel agent service, and Kucoin users stand to win a share of 25,000 AVA over the next week.
Kucoin’s own utility token, Kucoin Shares (KCS) climbed from a value of $0.495835 up to $0.604419 on Thursday. Trade volume quietly doubled over the course of the day, mostly thanks to BTC trades. That marks 21% growth for KCS.
Aurora Price – AOA/USD
AOA trading just hit its highest daily volume since June of 2018, as it surged to $3.4 million. News of fundamental developments is lacking on official Aurora channels at the moment, but the sudden influx of $2.2 million worth of AOA/USDT trades on the CoinEgg exchange might have something to do with Aurora’s sudden 26% growth.
From $0.010042, AOA climbed to $0.012674 by around 21:00 UTC Thursday. Were it not for increased action on CoinEgg, Aurora would likely be treading water. Now that AOA is on the move, it may be worth keeping an eye on it. The coin only launched in Q3 of 2018, but has proved very volatile to date.
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.