Revain Token Trading Significantly Lower in the Past Week
The Revain token (R) had traded 27.3 percent lower against the US dollar in the past week. This performance continued in the last 24-hour period (Trading period ended March 4, 1:00 p.m. Eastern time) the Revain token performed 5.7 percent lower against the US dollar. In this trading period, Revain token’s overall trading volume was approximately USD$10.8 million. On March 4, 2018, trading period Revain token’s overall trading volume was only $5.9 million. This is significantly lower compared to Revain token’s average overall trading volume in the third week of February ranging from $19 million to $20 million.
This means that the Revain coin price and market capitalization also dipped. On February 20, the Revain token opened with a price of $3.30 and closed with $2.79. The Revain coin price did not return to the $3.00 range since then. On the March 4 trading period, Revain token experienced the lowest opening price since February 6 with $1.68. The price even closed lower at $1.62. Revain token’s market cap started at $425 million on March 1 and dipped to $398 million on March 2. At the end of the March 4 trading period, it is only $309 million.
It seems that the Revain token isn’t alone as several cryptocurrencies also suffered lower trading rates. The drop seems to equally affect both low and high market cap cryptocurrencies. Populous (PPT) traded 1.5 percent lower against the US dollar. Populous’ trading volume had been dipping and rising in a somewhat volatile fashion in the past several weeks. It saw its overall trading volume rising to $13 million on March 1, from $5.6 million on February 28, and down again to $6.5 million on March 2. At the end of the March 4 trading period, Populous’ trading volume is down to $2.9 million with a market cap of $761 million.
Other cryptocurrencies that traded down or lower against the US dollar include Ripple (XRP) traded 2.4 percent lower, NEO traded 7.1 percent down, IOTA (MIOTA) traded 6.1 percent down, TRON (TRX) traded 7.3 percent lower, VeChain (VEN) traded 1.9 percent down, Binance Coin (BNB) traded 3.7 percent lower and RChain (RHOC) traded 3.4 percent lower against the US dollar. This is all in the March 4 trading period.
The Revain ICO raised about $12.5 million after a successful crowd sale in August 2017. The Revain token opened for trading on September 5, 2017, with a total supply of 484,450,000 R tokens. An ERC20 token, the R token is one of the two tokens of the Revain platform with the RVN token being the other. Revain is a blockchain platform that implements non-third party review mechanisms. This review mechanism is composed of two phases, the first being the AI enabled filter layer and the second being the company decided review approval. The Revain token was used for the Revain ICO funding phase and currently for trading. The RVN token is only internally used. It is used to reward and penalize both individual users and companies based on the quality of their reviews. RVN has a fixed value of 0.0001 Bitcoin and can be converted to R tokens.
Until recently, traders can only buy Revain tokens crypto-to-crypto in Bitflex, BTC-Alpha, C-CEX, Cryptopia, EhterDelta, Kucoin, Kuna, Mercatox, OKEx, and YoBit. The Revain token has only been recently listed on OKEx, one of the world’s largest cryptocurrency exchange platforms. OKEx and Kucoin had been toe-to-toe with in terms of R trading volume. In the March 4 trading period, the R/BTC trading pair in Kucoin accounts for 11.22 percent ($645,336) of Revain’s total trading volume. With the R/ETH accounting for 15.63 percent ($884,678). OKEx’ R/BTC trading pair accounts for 15.87 percent ($898,275), the R/ETH 8.05 percent ($455,815), and the R/USDT 4.03 percent ($228,393). A bulk of Revain’s total trading volume currently comes from Simex. The R/USD trading pair accounts for 20.30 ($1,148,900) percent of Revain’s total trading volume.