The crypto market saw a considerable rebound on Monday, as tokens associated with gaming saw staggering gains. At the same time, Bitcoin and Ethereum also saw some recovery.
However, Bitcoins sudden rise to $42,000 from January lows of $35,000 is worrying some investors. This may be due to excessive buying before the interest rates start going up. Another reason for the increase in the price of Bitcoin may be because Tesla revealed its Bitcoin holding remained unchanged for this quarter.
Another exciting news as the market slowly recovers is the trading competition announced by Ravendex on BitMart to celebrate the listing of their $RAVE token on the exchange. Ravendex is a Cardano-based startup that has been on a mission since last year to build a scalable, robust, and the most secured DEX on the Cardano blockchain. This exchange will enable Cardano-based token holders to trade with an intermediary.
Ravendex had initially launched their $RAVE token on their DEX where it saw a phenomenal public/seed sale. It has multiple use cases like voting powers on certain proposals regarding the governance which affect the Ravendex ecosystem. It also offers an attractive APR of 15%.
Coming back to the trading competition by Ravendex on BitMart— 9,090,900 RAVE will be part of a giveaway in there ‘RAVE Net Buying Competition Events.’
Duration of the competition: 2/8/2022 06:00 AM – 2/23/2022 06:00 AM EST
Users will be ranked as per net buying volume (buy-sell) of RAVE on their BitMart account during the competition period, as per the website.
The top 50 users will be rewarded in the following manner:-
1st: 1,272,726 RAVE
2nd: 818,181 RAVE
3rd: 545,454 RAVE
4th-10th: 272,727 RAVE each
11th-20th: 181,818 RAVE each
21st-50th: 90,909 RAVE each
For further rules and participation, visit BitMart
What will you do with so many $RAVE tokens if you win?
As mentioned previously, $RAVE tokens have various utilities, especially in Ravendex’s upcoming staking platform which will soon be made public. Ravendex has a highly specialized and excellent development team fully dedicated to the mission of developing De-Fi Tailored products which would be based on the Cardano ecosystem. It will also create value for its products by making innovative developments on the blockchain.
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