The Revain price has dropped to an all-time low as investors worry about its future. The REV coin is trading at $0.0050, about 90% below its all-time high. Additionally, it is unclear where the market capitalization of Revain stands. CoinMarketCap places its total market cap at about $446 million, while CoinGecko has a question mark. On the other hand, Nomics values the coin at about $2 million while giving it a transparency grade of D.
Can Revain work?
Revain is a “blockchain” company that seeks to revolutionize the rating and review industry. It has a platform where people from around the world can review any company they interact with. These reviews can then help other users know the quality of services offered by these companies. It then uses “artificial intelligence” to weed out low-quality reviews.
This seems like a good idea on paper since many people are looking for reviews before they shop these days. However, a closer look at it shows numerous gaps that are difficult to fill by Revain.
First, the rating and review industry is highly competitive. For example, companies like Amazon, Google, Facebook, and Yelp have their rating solutions. While these are centralized products, they seem to work well because of the billions of people who use their platforms. Indeed, most people first look at the app reviews before installing any application.
Second, Revain needs to be used widely for the project to be successful. Today, a quick look at its website traffic data shows that only a few people use its platform. In January, it had about 233k visitors in its website. Therefore, it is difficult to see how the platform can grow and achieve masses in the next few years.
Third, a closer look at some of its top websites shows that its growth has slowed. For example, Binance, which is the biggest cryptocurrency broker in the world, has 778 reviews. Yet, February alone, there have been just two reviews. Similarly, Coinbase has just 122 reviews, of which one has been made this year.
Revain price prediction
Turning to the daily chart, we see that the REV price is currently sitting at a key level of support. The coin is trading at $0.0051, which is slightly below its previous all-time low. As a result, the coin remains below the short and long-term moving averages while the MACD has moved below the neutral level. Therefore, the Revain price will likely continue falling in the coming weeks. The bearish view will be invalidated if the coin moves above $0.0094.