Ravencoin (RVN) has seen its value rise over 13% within the final 24 hours to $0.06359, capping a bullish week for the token.
On the seven days metrics, the proof-of-work (PoW) token spiked by virtually 70% –surging from lower than $0.045 to as excessive as $0.072– in line with CryptoSlate information.
In the meantime, Ravencoin’s market cap stood at $831 million on Sept. 12 — a greater than 2x improve from round $300 million on Aug. 29.
Explaining Ravencoin’s inexperienced run
Ravencoin has loved a brand new wave of curiosity from the crypto neighborhood because the Ethereum (ETH) merge attracts close to.
The coin is without doubt one of the few PoW tokens trying to appeal to miners who can be affected by ETH’s transition to proof-of-stake.
Ravencoin’s community hash fee has considerably elevated over the previous week, with its hashrate rising from 2.79 Th/s on Sept. 6 to six.46 TH/s as of press time. Its community problem additionally noticed a 2x improve from 37.78K to 83.12K, in line with information from 2miners.com.
Other than that, FTX introduced that it could assist perpetual futures buying and selling for the token, which additional boosted entry to the token and its buying and selling exercise.
Upcoming itemizing on FTX: Ravencoin $RVN perpetual futures!
Stay on September 12, 2022 at 2pm (UTC)@Ravencoin
Itemizing particulars: https://t.co/V1vEm5r7fB pic.twitter.com/doruwygJPW— FTX (@FTX_Official) September 11, 2022
A Ravencoin basis member Leon Texas mentioned:
“Ravencoin has wonderful assist from non-public sector professionals within the blockchain & safety token ecosystem. It’s these professionals that assist improve safety token adoption & naturally with it Ravencoin adoption.”
Ravencoin will get its first play-to-earn platform
Curiosity in Ravencoin can also be resulting in the event of its ecosystem because the neighborhood seems to capitalize on the current market momentum.
The blockchain community is ready to have its first play-to-earn platform with digital actuality options Meta-Z, constructed by NFT artist JQNFTX.
NFT artist, software program developer, and animator @JQNFTX is constructing an formidable daring mission on @Ravencoin referred to as MΣƬΛ-Z. It’s the primary platform with play-to-earn & VR options on Raven, together with artwork galleries and reside occasions hosted in an open
— Rick 1984 🅁🅅🄽 𓄿 ₿ (@RavenRickGrime1) September 10, 2022
Ravencoin is the native token of Ravenchain, launched in 2018. It’s a onerous fork of the Bitcoin (BTC) code however with enhancements like a block time of 1 minute and good contract capabilities to assist decentralized purposes and NFTs.
RVN’s most provide is capped at 21 billion.
