The cryptocurrency space has exploded of late after being in complete slumber for most of 2018. Lead by Bitcoin, many other cryptocurrencies are seeing an upsurge in price. One of the little known coins that is showing a remarkable spurt in growth is Ravencoin (RVN), which gained 31% over the course of 24 hours on 15 May and needless to say, there is a lot of interest in it.
Ravencoin (RVN) is still extremely cheap, and gives crypto investors the opportunity to invest in a cryptocurrency that could well prove to be a shrewd bet.
RVN is trading at $.0502 and currently has a market capitalization of $206.5M. However, what is necessary to point out in this regard is the fact that the trading volume in Ravencoin (RVN) has shot up significantly and during its 31% rise, a mammoth $77.55 million worth of RVN was traded on exchanges throughout the world.
The coin forked from Bitcoin and was launched in early January this year. However, even during its short existence, RVN has attracted a lot of attention and has risen at a staggering rate, which is why it is not a surprise that just as the crypto space is heating up this particularly coin shot up in value as well.
It’s available on the all the leading crypto exchanges and interested parties can buy it from TradeOgre, Upbit, Cryptopia, CryptoBridge, IDCM, Cryptohub, Bittrex, Graviex, QBTC, and Nanex. The fact that it is available at so many exchanges is further confirmation of the fact that the Ravencoin project is a serious one.
According to a blog post on Medium, Revencoin (RVN) is a peer to peer network that is meant for asset transfer and since it has a well-established use case; it is a project that is attracting major investor interest. In addition to that, it is important to point out that Ravencoin has all the features of a strong crypto project. There is no initial coin offering involved and it is completely decentralized. On top of that, the coin has also been backed by big names like Tron Black and Bruce Fenton.
Ravencoin (RVN) is an open-source blockchain project that specializes in the creation and peer-to-peer transfer of assets. Ravencoin enables users to create and trade any real-world (e.g. commodities) or digital (e.g. virtual goods) assets on a network. The core developers launched Ravencoin on 3 Jan 2018. The project has some prominent backers: Bruce Fenton, Board Member of The Bitcoin Foundation, advises the team while Overstock has made a multi-million dollar investment into the project.