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Listing of any utility token on an exchange mostly turns out beneficial in surging its price, and so is being expected with Ravendex’ RAVE token
Decentralized Exchange on Cardano blockchain network, Ravendex recently announced that the utility token of the dex RAVE is going to be listed on Bitrue exchange. The listing data is 21st March 2022 as per the dex revealed.
As per the announcement, the Project has been looking upon the increasing demand for the RAVE utility token of Ravendex. It continues to look forward to listing on Bitrue exchange and release of NFT staking. The announcement had made a surge in Rave token price and the number of holders, which further increased reach and adoption.
Also, it seems that the announcement of the listing has drawn the interest of many token holders and enthusiasts, which can be seen as the acquiring of tokens at a huge level after the unveiling of listing plans. The impact on price hike also seen as it went up to 20% high.
Cardano-based Ravendex is a non-custodial decentralized exchange built on the ecosystem of the network. It can be seen as to design leveraging the update in Cardano ecosystem, Alonzo Hard Fork to avail the facilities for the creation of an innovative and interactive application that would ultimately boost the adoption of the network. The ever gaining popularity and acceptance would reflect on the price of the RAVE token and its demand.
The announcement also contains the details about the trading of RAVE tokens on centralized exchanges like Bitmart and also on some decentralized protocols like Miswap and SundaeSwap already. The Roadmap of the Ravendex exchange revealed the intentions of the Project to launch the features of Cardano DEX entirely by the end of Q3 of this year.
Further details in the Roadmap entail the staking of RAVE tokens, staking of non-fungible tokens that are NFT staking, and Yield farming of LP tokens. There were also details about different rewards rated for different amounts of assets holding RAVE tokens.
The Project that would allow users to stake the NFT is named Moreso. After which, holders can stake NFTs of RAVE to earn rewards, and those rewards could be further compounded when the users would have given liquidity to their RAVE or ADA pools on SundaeSwap decentralized exchange.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
