Ravencoin Voted ‘Most Exciting New Coin’ as RVN Coin Price Leaps 37%

Ravencoin was granted the award of ‘Most Exciting New Coin’ in the ADVFN International Finance Awards for 2019. The RVN coin price surged to the tune of 37%, and held onto most of its gains amid growing, but stable volume.

Ravencoin Rated ‘Most Exciting’

According to the analysts over at ADVFN, Ravencoin has done enough in the year or so since launch to earn the credit of being the ‘most exciting’. The brief explanation on the ADVFN website focuses on the ability to launch tokens on Ravencoin. From the post:

Ravencoin is a protocol and token issuance platform based on a fork of the Bitcoin code which adds features specifically focused on allowing tokens to be issued on the Ravencoin blockchain. These tokens can have whatever properties the issuer of the token decides – so they can be limited in quantity, divisible or not, named and be issued as securities or as collectibles.”

That’s a very particular area of interest to focus on when considering what is deemed exciting enough to win the ‘most exciting’ moniker. Many crypto platforms offer this function, from the likes of Waves, to Komodo, to Ethereum – all with varying degrees of help and complexity.

Ravencoin’s Reputation

The truth is that Ravencoin has earned a good reputation already based on its ability to handle and differentiate between a range of assets, tokens and contracts. From a recent deep-dive on Ravencoin – Why Investors Should Pay Attention to Ravencoin (RVN):

The Ravencoin code has the capacity to recognize assets, and differentiate between them and regular transactions – unlike Ethereum. The blockchain also has the capacity to carry messages between users, making it easier to dictate and organize contracts and agreements.”

On Twitter on Wednesday the Ravencoin team confirmed this user’s tweet that Ravencoin now hash a hashrate above that of Ethereum Classic (ETC), at over 10 TH/s. That’s a fast catch-up for a coin that only launched last year.

Speaking of Ravencoin mining, RVN is mined using a randomly alternating Proof-of-Work comprised of sixteen different algorithms. This is set up to make the blockchain ASIC-proof, and more attractive to home-GPU miners.

Ravencoin Price – RVN/USD

From the daily low of $0.032481 the price of RVN coins rose 37% over the course of the day. That carried the price to $0.044548, with most of the growth coming slow and steady.

That’s in comparison to the day’s other big pumper covered here on Hacked – Golem, which spiked 23% in just under a couple of hours.

Ravencoin’s volume $30 million to $58 million over the day, and zooming out to the monthly view shows that major volume has pumped into RVN at several points over the last month. Indeed, in that time RVN has grown 327% in that time, and has established itself as a top-fifty coin.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.

Leave a Reply