Ravencoin (RVN) Jumps 46% After Free Binance Listing
The price of Ravencoin (RVN), a fork of Bitcoin that is focused on asset transfers, is up 46% after Binance, the world’s leading crypto exchange, announced plans to list the altcoin and opened up RVN deposits.
— Binance (@binance) October 11, 2018
According to the announcement, Binance will open trading for RVN/BNB and RVN/BTC trading pairs at 2018/10/12 04:00 AM (UTC). Users can now start depositing RVN in preparation for trading.
In a statement following the listing announcement, Binance CEO Changpeng “CZ” Zhao provided the following reasoning for listing Ravencoin, “no ICO, community project, humble people, no listing fee.”
This is the first listing since Binance revealed that it will now disclose all listing fees and donate the proceeds to charity. According to the announcement, Binance will not change its actual listing process, meaning that token projects will still need to submit applications with a requested fee value based on what they can afford. However, the exchange will now publicly share those values once tokens are accepted.
Additionally, Binance has started to delist altcoins with little trading activity or questionable operations, starting with Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Triggers (TRIG), which will be removed on November 12.
Following the listing announcement, RVN is up 46% and now has a $40 million market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.