Friday, December 9, 2022
 

Ethereum Mining Alternative Ravencoin Surges Almost 70% In 1 Week

  • The Ravencoin is up by almost 70% over the last week.
  • The announcement of the RVN perpetual futures was met with great excitement from the community.
  • RVN is currently trading at $0.06253 after a 13.20% increase in price over the last day.

The Ethereum mining alternative, Ravencoin (RVN), is up almost 70% over the last week, according to CoinMarketCap, as the Merge creeps even closer. In addition to this, the FTX crypto exchange also announced the listing of Ravencoin perpetual futures on Monday.

Notably, one of the main reasons why the Merge has such a noteworthy effect on RVN is the fact that the Merge will leave crypto miners with only two options — either give up their mining business and become ETH stakers or start mining on other blockchains.

This means that activity for RVN has been increasing steadily as proof-of-work (PoW) miners sought alternatives since mining Ethereum will soon no longer be an option.

Whereas FTX’s listing of RVN perpetual futures means that traders can take advantage of the potential increase in the price of Ravencoin as the futures also allow speculators to bet on where the price of RVN goes from here.

Another plus about perpetual futures is the fact that, unlike traditional futures, they do not have an expiration. In other words, traders can hold their positions indefinitely.

The announcement of the RVN perpetual futures was met with great excitement from the community. Leon Ravencoin stated in a Tweet that “Ravencoin has amazing support from private sector professionals in the blockchain and security token ecosystem.”

Ravencoin / Tether US 1D (Source: ColinMarketCap)

The crypto market tracking website, CoinMarketCap, also shows that RVN is currently trading at $0.06253 after a 13.20% increase in price over the last day. RVN is also up more than 69% over the past week and up by 58.53% over the last month.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

  • The Ravencoin is up by almost 70% over the last week.
  • The announcement of the RVN perpetual futures was met with great excitement from the community.
  • RVN is currently trading at $0.06253 after a 13.20% increase in price over the last day.

The Ethereum mining alternative, Ravencoin (RVN), is up almost 70% over the last week, according to CoinMarketCap, as the Merge creeps even closer. In addition to this, the FTX crypto exchange also announced the listing of Ravencoin perpetual futures on Monday.

Notably, one of the main reasons why the Merge has such a noteworthy effect on RVN is the fact that the Merge will leave crypto miners with only two options — either give up their mining business and become ETH stakers or start mining on other blockchains.

This means that activity for RVN has been increasing steadily as proof-of-work (PoW) miners sought alternatives since mining Ethereum will soon no longer be an option.

Whereas FTX’s listing of RVN perpetual futures means that traders can take advantage of the potential increase in the price of Ravencoin as the futures also allow speculators to bet on where the price of RVN goes from here.

Another plus about perpetual futures is the fact that, unlike traditional futures, they do not have an expiration. In other words, traders can hold their positions indefinitely.

The announcement of the RVN perpetual futures was met with great excitement from the community. Leon Ravencoin stated in a Tweet that “Ravencoin has amazing support from private sector professionals in the blockchain and security token ecosystem.”

Ravencoin / Tether US 1D (Source: ColinMarketCap)

The crypto market tracking website, CoinMarketCap, also shows that RVN is currently trading at $0.06253 after a 13.20% increase in price over the last day. RVN is also up more than 69% over the past week and up by 58.53% over the last month.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

 

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