As the war in Ukraine intensifies, Bitcoin has been nothing but impressive as donations in BTC have risen for the Ukrainian cause. Bitcoin is currently trading at $40,785 from its low at $34k levels when the war started. However, another interesting thing to take note of is that Bitcoins market dominance stands at 43.06 percent as coins like Terra have performed well given the current geopolitical scenario.
The sanctions against Russia will play a crucial role as an indicator of where the global markets might be headed. Analysts have asked traders to remain cautious as many short positions were liquidated yesterday due to the surprising up-move in markets including crypto. Investors will likely hold on to cash given the current market scenario. The crypto market cap has increased by 4.01 percent over the last 24 hours.
Investors should look for upcoming crypto projects with great potential after thorough research. One such project is Ravendex. Ravendex is a Cardano-based decentralized exchange, which is completely non-custodial. It allows instant transfer of assets and liquidity between Cardano-based tokens and ADA. It is a cross-chain exchange that uses the EUTXO model.
The EUTXO model is known for its features like splitting shared liquidity among Cardano-based assets. The Cardano blockchain is also widely popular for its lower fees and faster transfer of liquidity among peers.
To self-sustain the planned ecosystem, Ravendex launched a token of their own— the $RAVE token. The $RAVE token was a massive success at its public and seed sale. Out of the 200 million tokens up of seed sale in October 2021, 181.4 million (more than 90%) tokens were sold.
The proceeds from the token sale were diverted to the development and expansion of the Ravendex project. The $RAVE tokens can be staked to receive $RAVE rewards via a simple web interface. Token holders can get up to 25% in interest once they stake their tokens.
You can get hold of the $RAVE tokens on Bitmart.
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