The latest controversy over conventional brokerages limiting inventory purchases solid a optimistic mild on tokenized securities and boosted curiosity in initiatives like Ravencoin.
Ravencoin (RVN) value has rocketed increased in February as a contemporary wave of shopping for quantity lifted the token’s value by greater than 800% previously 20 days.
Information from Cointelegraph Markets and TradingView exhibits that RVN rose from $0.016 on Jan.29 to a brand new all-time excessive of $0.189 on Feb. 19 on prime of a report $1.28 billion in 24-hour buying and selling quantity.
A scroll by the venture’s Twitter feed exhibits a rise in exercise from the account starting on Jan. 27, when the venture tweeted, “Inventory markets are remodeling. Ravencoin is right here for many who need to construct providers or difficulty belongings.”
Conventional monetary markets have been below stress on the time because of r/Wallstreetbets and its squeeze of GameStop shorts which subsequently led to brokerage corporations briefly suspending entry to a number of shares.
A follow-up tweet on Jan. 29 learn:
“Ravencoin was particularly designed and developed with securities as a significant use case. Particularly, the issues being seen in public markets as a consequence of dangerous ledgers could also be solved by distributed ledger know-how.”
RVN briefly spiked to $0.036 following the tweet earlier than coming into a correction part that pushed the worth as little as $0.023.
Rising Twitter quantity preceded the latest spike
VORTECS™ information from Cointelegraph Markets Professional started to detect a bullish outlook for RVN on Feb. 17, previous to the latest value rise.
The VORTECS™ rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mix of knowledge factors together with market sentiment, buying and selling quantity, latest value actions and Twitter exercise.
As seen within the chart above, the VORTECS™ rating hit a low of 56 on Feb.14 after which proceed to rise to a excessive of 84 on Feb. 17, shortly earlier than the worth of RVN started to rise from $0.074 to its present value of $0.157.
Buying and selling volumes for RVN proceed to push to new highs alongside its rising value, which has lifted the whole market cap above $1.2 billion and made Ravencoin the latest addition to the rising record of cryptocurrency unicorns.