REV, a native crypto asset of blockchain review platform Revain, surged over 274% to a high of $0.0515 in the past 24-hours.
What Happened: Founded in 2018, Revain was created as an online platform for Ethereum (CRYPTO: ETH) blockchain token reviews allowing developers to receive feedback about their projects.
The project has since expanded to include a variety of non-crypto-related review categories as well and claims to have the largest number of reviews in the industry.
Unlike most other blockchains that have one native asset unique to it, Revain actually utilizes two tokens, REV and RVN, to “increase its efficiency.”
While the RVN token is a stablecoin and is exclusive to the platform, REV is fully tradeable on several crypto exchanges like KuCoin, Bittrex, and BitMart.
Why It Matters: The REV token’s main use in rewarding authors who write reviews on the platform. Essentially, listed companies can award those who write reviews with anywhere between 0.1 to 100 REV tokens.
See also: New Doge? Shiba Inu’s (SHIB) Price Grows By 150% As Major Crypto Exchanges List It
Despite the token’s recent rally, it is nowhere near its all-time high of $4.48 last seen in 2018. In fact, since its price fell in 2018, REV has traded largely sideways, making this week’s rally unprecedented even to its holders.
this aged well ?
— Amin Ommi (@OmmiAmin) May 11, 2021
At press time, REV was trading at $0.04324, with a market cap of $3.67 billion, a large increase from just 24-hours ago when it was $1.7 billion.