Revain token rose in price by 240% in a week. Explaining the reasons for the rise

The native coin rate of the blockchain-based review platform was reaching $0,002558

18.06.2022 - 11:00

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2 min

What’s new? The native token rate of the blockchain-based platform for feedback and reviews, Revain (REV), rose by 240% in one week. In a few days, the price of the asset bounced from a record low of $0,000753 to $0,002558. As of June 18, 10:50 UCT, the asset is trading at $0,001759, according to CoinMarketCap.

Revain data

What is Revain? Blockchain provides users with access to the platform for feedback and reviews on various products and services that relate to new technologies and Web 3.0. The company claims that the network has “accumulated the biggest volume of user feedback on crypto on the Internet.” Users who write quality reviews are rewarded with REV tokens. The total market capitalization of Revain is $153,7 million, the figure up by 38.5% per day.

Reasons for the rate rise. REV’s rise in value is probably related to a review contest that started on June 14, just before the coin’s rebound. The platform organized the competition jointly with cryptocurrency exchange BitYard, during which USDT stablecoins from the Tether issuer will be paid as prizes.

🔥WE ARE BACK WITH MORE PRIZES🔥Revain & BitYard are ready for a new contest with better and higher prizes. What about you?😉Find out how to win 20 USDT and other contests details in our telegram channel: https://t.co/fqsikZA4Ry #Revain #BitYard #contest pic.twitter.com/vNyDsCzs2U— Revain (@Revain_org) June 14, 2022

Developers have also recently updated the smart search feature, but this came after REV’s rise. Although the token has soared by 240%, its price is far from the February 2018 all-time high of $4,06.

Earlier, crypto analyst Michaël van de Poppe spoke about the potential to rise in the token rate of Fetch.ai (FET), a decentralized trading platform. According to him, FET could soon hit a tradeable bottom before starting to rise by 2023. Looking ahead, the altcoin could rise by 173%, from $0,11 to $0,30, between July and September.

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