The global cryptocurrency markets have risen to a market cap of $2.16 trillion or a 0.72 percent increase over the last day. However, the price of Bitcoin has fallen to $46,164.30 from yesterday’s high of $47,148.40. The crypto market has been comparatively very stable given the current geopolitical situation when oil prices have risen and inflation is at its highest point in U.S. history. This makes the overall crypto market very attractive, and analysts will be hooked on the prices of various cryptocurrencies including the likes of Cardano (ADA).
Cardano is known for its environment-friendly proof-of-stake mining and low transfer fees. Since the Cardano blockchain was launched in 2017, it has picked up popularity with speed among various sections of crypto fanatics. Following the Alonzo hard fork update and with the launch of smart contracts, the Cardano system empowers developers to launch DApps on the Cardano ADA blockchain. At least 140 projects have been deployed since being launched on the blockchain.
In an attempt to facilitate transactions smoothly and swiftly, the Ravendex team has gladly announced its main project to the community. The company plans to develop an all-in-one decentralized exchange (DEX) and power DeFi Applications by providing them with a wide range of services, including an IDO Launchpad and services related to borrowing and lending.
Their system guarantees seamless cross-border transactions with minimal fees. The Ravendex team believes in the potential of the Cardano ecosystem and has plans to take it to the next level. The $RAVE token has been acquainted by project leaders with making the Ravendex ecosystem more self-sustainable. The token had a huge accomplishment with its public and seed sale.
Out of the 200 million tokens up for seed sale in October 2021, 181.4 million (over 90%) tokens were sold. The token is listed on various exchanges (CoinMarketCap, BitMart, and Bitrue) alone this year.
A community reward program is also planned by the team, however, the details for the same are yet to be released by the team.
They additionally have their line of NFTs which were launched a month prior. 10,000 (just 2000 remaining now) extraordinarily pixelated $RAVE NFTs have genuine utilities in the Ravendex ecosystem, in contrast to numerous different projects. Staking tokens are one of the features of this NFT project. Experienced Haskell and Plutus (both are savvy contract programming dialects, fundamentally for Cardano) engineers are ready to accelerate their DEX development to ensure that they follow through on the mainnet in the most conservative period.
To endorse a project launching through their IDO to earn by staking NFTs, investors must :
1. Be willing to do it for one, two, four, or six months.
2. Hold at least 30,000 $RAVE in the same wallet and must stake at least $50 ADA in RAVEP, Ravendex’s ISPO pool.
More than $9 million have been staked in the pool as more contributors/investors are expected. One has a chance to earn up to 60% APY. Visit Ravendex on their website for more information.
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