CryptoPolyTech.com
Crypto, Politics, Tech, Gaming & World News.

Ravencoin has surged by 54% in the past week

 | cutline • press clip • news of the day |

Cryptopolytech Public Press Pass

Title: Ravencoin has surged by 54% in the past week

Originally reported on coinjournal.net by Motiur Rahman

01000000 – $Mo’Money$ | Crypto |
•| Economy |•| Business |•| Finance |•| MacroEconomics |•| Crypto |
•| Newser |


  • Ravencoin has gained 54% in a week

  • Ravencoin blockchain is a Bitcoin fork

  • The token is boosted by speculations of PoW miners’ shift

Ravencoin RVN/USD is alongside Terra Classic, making parabolic moves. In the last 7 days, RVN has added 54.42%. The gains are not stopping as the token surged by 20.36% in 24 hours as of the time of writing. So, what’s driving the price of the 79th-ranked cryptocurrency by market cap?

Let’s first dissect what Ravencoin is and its role in the crypto ecosystem. 

Ravencoin is a brainchild of Bitcoin, with the blockchain just 4 years old since its April 2018 launch. The blockchain has most of the features of Bitcoin. As such, it undergoes periodic halvings and runs on the Proof-of-Work consensus mechanism. 

Ravencoin’s whitepaper indicates that it is a blockchain-based ecosystem. It allows users and developers to come up with tokens for whatever asset of their liking. The ability to create a token from virtually anything is the network’s main value proposition. Users can then move the tokens to third parties via the Ravencoin network. 

Ravencoin price and prediction

While RVN has been bullish lately, it is nothing near its former self. At press time, the cryptocurrency was trading at $0.044, the highest ever since May. While crypto recoveries were boosting RVN, increased speculation is also behind the latest surge. PoW miners are seeking alternatives ahead of Ethereum’s move to Proof-of-Stake consensus. Investors are looking at Ravencoin as a superior alternative to Bitcoin in PoW miners’ shift. That’s because the network comes at lower costs and faster speeds. To some extent, RVN investors are reading from the same script as the Ethereum Classic enthusiasts.

Source – TradingView

From the technical outlook, RVN has successfully cleared the $0.04 resistance. We shall remain interested in the level as Ethereum Merge approaches. More volatility could see the token continue to surge. The next level is $0.05.

Summary

Ravencoin is rising due to growing expectations it could attract PoW miners from Ethereum. The token remains largely susceptible due to volatilities. $0.04 is the level to watch if seeking to buy.

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy RVN with Binance today

Coingate

CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.

Buy RVN with Coingate today


‘News of the Day’ content, as reported by public domain newswires.

Find more, like the above, right here on Cryptopolytech.com by following our extensive quiclick links appearing on images or within categories [NEWSer CHEWSer].

Source Information (if available)

It appears the above article may have originally appeared on coinjournal.net and has been shared elsewhere on the internet, repeatedly. News articles have become eerily similar to manufacturer descriptions.

We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.

We compile ‘news of the day’ content in an unbiased manner and contextually classify it to promote the growth of knowledge by sharing it just like Ravencoin has surged by 54% in the past week

First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!

You might also like