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Ravencoin's price performance was a surprise for any kind of cryptocurrency trader as the cryptocurrency broke through all existing resistance levels and showed a 50% price increase in only twodays. In addition to the extreme price increase, the cryptocurrency had no fundamental changes in the last few weeks.
Successful breakout
The first reason behind the impressive 50% rally could be tied to the positive performance of the currency in terms oftechnical analysis. RVN moved past its 50-day moving average like it was nothingand reached the 200-day moving average, which is the next major resistance level.
The successful breakout that correlated with the large exchange listing attracted more trading volume to the cryptocurrency, which fueled the massive rally.
Project's nature
Ravencoin is a "simple" paymentnetwork that mostly aims at providing users with a cheap and efficient way of transferring funds. Raven is built on a Bitcoin fork and allows users to issue various tokens with different use cases.
The simplicity and the time-tested nature of the project attracts investors from all over the industry that are ready to provide buying power when needed. The main reason behind the most recent pump could be tied to the fact that more investors are discovering the project and are willing to join the surrounding community.
Mining power migration
Ravencoin is a PoW coin accessible for mining, which might be another reason why it faces significant inflows lately, considering the fact that Ethereum miners will notbe able to mine more ETH in the next few weeks.
At press time, RVN is trading at $0.04 and showing around a 46% price increase in the last 24 hours.
Users may find Ravencoin appealing based on its ability to serve as a platform for digital tokens that represent real-world assets. Ravencoin may also be interesting to projects seeking to apply Bitcoin's security and transaction model to new classes of assets.
Users may find Ravencoin appealing based on its ability to serve as a platform for digital tokens that represent real-world assets. Ravencoin may also be interesting to projects seeking to apply Bitcoin's security and transaction model to new classes of assets.
Rogue actors have reportedly exploited a blockchain vulnerability on the Ravencoin (RVN) network to print 315 million additional RVN tokens worth about $5.7M. Hackers Mint 315M RVN from Thin Air Ravencoin announced the news in a Medium blog post published…
The spike in RWAs is one reason the RVN coin is seeing renewed upside. What is this? But more notably, RVN's price could rally hard amid developments around Litecoin, Bitcoin Cash and Dogecoin. Coinbase recently revealed its plans to list futures contracts for DOGE, LTC and BCH.
One of the most significant factors that could prevent the RVN price from reaching $100 is its high circulating supply. Out of the total supply of 21 billion, the circulating supply of RVN is over 11.75 billion as of October 2022.
Is RVN worth mining? Yes, mining Ravencoin is still profitable - based on the mining hardware hashrate of 70.00 MH/s, electricity costs, and pool / maintenance fees provided.
The live Ravencoin price today is $0.030100 USD with a 24-hour trading volume of $28,879,450 USD. We update our RVN to USD price in real-time. Ravencoin is down 7.81% in the last 24 hours.
It might – but if it does, it's unlikely to be for a long time. Most price predictions for Ravencoin (RVN) suggest a slow development, with little evidence the coin will reach a dollar at any point soon. That is not to say that it cannot ever reach $1 – just that it is not likely to happen until the 2030s at least.
Daily Ravencoin (RVN) Price Prediction For Today, Tomorrow, this Week, and Next 30 Days. Based on your price prediction input for Ravencoin, the value of RVN is projected to increase by 5%, potentially reaching $ 0.032704 in the next 30 days.
What is the all-time high for Ravencoin (RVN)? The highest price paid for Ravencoin (RVN) is $0.2852, which was recorded on Feb 20, 2021 (about 3 years). Comparatively, the current price is 87.84% lower than the all-time high price.
In the year 2040, our prediction suggests that the RVN cryptocurrency will achieve a peak price of $0.07996, with a potential minimum price of approximately $0.04984.
Further, according to our analysis in the long term, Ravencoin price prediction for October 2024 shows the average price of RVN at 0.054 and the highest possible price for October 2024 would be $0.058.
It's a popular option for mining at home because Ravencoin is ASIC-resistant thanks to the KAWPOW algorithm, meaning you can mine Ravencoin with a CPU or GPU.
Introduction: My name is Margart Wisoky, I am a gorgeous, shiny, successful, beautiful, adventurous, excited, pleasant person who loves writing and wants to share my knowledge and understanding with you.
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