Ravencoin (RVN), a blockchain platform focused on asset transfers, recorded a sharp surge on Wednesday after South Korea’s leading crypto exchange Upbit added a Korean Won (KRW) trading pair for the token.
The coin jumped 62% in 24 hours to trade at $0.01827, while daily trading volumes shot up by more than 4207% to $395 million. Ravencoin’s market capitalization also moved up to $278.24 million, pushing it to the 169th spot among global cryptocurrencies by market cap.
Upbit, one of the most influential digital asset platforms in Asia, confirmed the listing earlier in the day and announced that KRW trading support for RVN would begin at 5 pm KST.Â
The listing triggered a surge in retail interest, led by South Korean traders who often pile into tokens soon after new KRW trading pairs go live. That early momentum helped push Ravencoin sharply higher through the day.
Ravencoin is a Bitcoin fork designed for a different use. Instead of just being a digital currency, it helps people create and transfer digital assets like tokens or records tied to real things.
It processes transactions faster, adding a new block every minute, and has a larger total supply. The platform also makes it easy for users to create tokens or send messages without needing complicated coding or smart contracts.
Upbit has also listed Lagrange (LA), a token from Lagrange Labs. The project is building privacy tech using zero-knowledge proofs, a way to verify data without actually revealing it.
In its announcement, Upbit reminded users to confirm they are using the right network before sending any tokens. Funds sent through the wrong network could be lost permanently.
The exchange warned that sending assets through unsupported networks could lead to a permanent loss of funds. The exchange also said trading could be delayed if liquidity remains insufficient following the listing.
Ravencoin’s sudden price action follows a trend seen frequently in the Korean market, where fiat listings can spark immediate interest and short-term rallies. Several other tokens have experienced similar moves after landing KRW pairs on Upbit.
Market watchers said it remains to be seen whether RVN can hold on to its gains or if the rally fizzles out in the coming sessions. However, the listing has pushed the project back into focus for retail traders in Asia.
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