As has been the case in the crypto industry for some time now, a positive Bitcoin spell makes good things happen. Most, if not all altcoins rely on Bitcoin’s momentum for their own valuation. In the case of the Revain price, the current trend is pretty impressive. Following gains in USD, BTC, and ETH value, this altcoin is getting on more people’s radar again.
The opinions on Revain may be somewhat mixed most of the time. In some cases, users are convinced this project is the next era of online reviews. Others see it as a pump-and-dump currency which no one should pay much attention to. All of these opinions are valid, but that doesn’t mean there is no money to be made with Revain these days.
Over the past 24 hours, there have been very notable changes as far as the Revain price is concerned. To put his in perspective, there is a 12.7% increase in USD value to push the price back to $0.162681. The uptrend also materializes in BTC value, following a 6% increase. Last but not least, Revain gained 2.7% on Ethereum.
As has been the case for some time now, this momentum occurs with little to no real trading volume. Although Revain notes nearly $2m in trades, it is not necessarily an amount that displays uber bullish desire to buy this altcoin either. Most top currencies note at least 20% of their market cap in volume every single day. For Revain, that figure is closer to the 5% mark. Not the most impressive, but sufficient.
One reason why Revain notes such low trading volume is the exchanges where one can buy, sell, and trade R. Despite being listed on OKEx, HitBTC, and KUCoin, the currency isn’t popular there in the slightest Instead, its top platforms are BTC-Alpha and DragonEX. Neither exchange is “big” in the industry, thus it seems the overall lackluster trading volume can be explained rather easily.
One thing working in favor of this altcoin is the approach taken. Its technology is designed to disrupt the online review industry by building trust between brands and consumers. Whether or not this technology will be in high demand over the coming years, is very difficult to predict. It is a worthwhile topic to explore, though.
All things considered, there is no immediate indication this price trend will reverse course. Nor is there any validation to continue the uptrend either, which poses its own set of problems. As such, it seems the goodwill of Revain primarily hinges on how Bitcoin’s price evolves. The hourly charts look a bit bearish in that regard, which can easily spell trouble for all other currencies on the market today.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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