Ribbon Finance's governance token, RBN, saw a 19% surge in value within the last 24 hours as Ribbon prepares to launch Aevo, its on-chain options exchange.
RBN's price increased by 18.9% to reach 25 cents, and its trading volume increased by over 477%, exceeding $4.2 million. Despite this growth, the number of wallets holding RBN has remained steady at around 4,200. Ribbon Finance is known for providing DeFi protocols that offer users access to on-chain structured products. The upcoming launch of Aevo was originally scheduled for Q4 2022, but has yet to become publicly available. According to Nansen, a blockchain analytics firm, the token's rise in value could be attributed to long-term investors doubling down, including insiders and true believers.