Ravencoin is a digital currency, a classic example of a peer-to-peer system. It is a free open-source platform and cryptocurrency.
Like other altcoins, it is an advanced Bitcoin fork created to meet the demand for digital assets and securities across borders.The Ravencoin buyers can issue the coin on the RVN blockchain network with any other assets, and the seller giving away the token can determine its properties as this coin need not be mined.
Ravencoin satisfies most of the properties that must be in a good cryptocurrency. It follows the Proof-of-Work mechanism, making it difficult to mine the coins.
Ravencoin is the native token in the Ravencoin platform launched in January 2018. It follows the PoW consensus mechanism, but the hashing algorithm varies from that of Bitcoin and does not allow ASIC mining.
It had no Initial Coin Offering (ICO) sale during its launch and was funded by Medici Ventures, run by Overstock.
The Ravencoin (RVN) is primarily used as a mode of fee payment on the network. It is also used for rewarding the developers on the system.
On the CoinMarkerCap web portal, Ravencoin is ranked 56th in market capitalization, which is $13,89,61,316 USD.
Its maximum supply is 21,00,00,00,000 RVN, while the circulating supply stands at 6,39,81,30,000 RVN.
The market price of RVN/USD as of 17th June 2020 is $0.02210. It made an all-time high on June 03, 2019, to $0.08025.
On the flip side, it made its all-time low to $0.00879 on March 13, 2020. The highs and lows ranging from 52-week to 24-hours are as follows:
Ravencoin has seen several ups and downs, though it has been only a couple of years since its launch. However, it has remained quite strong in its price action and trajectory.
In October 2018, Ravencoin prices rallied to 0.06674. It then lost 85% of its value in a matter of months. Following this massive drop came the bulls who took the market 690% higher, making an all-time high to $0.08025. But the price could not sustain these levels.
As a result, the market dropped yet again and set an all-time low to $0.00879. From the past three months, it has been recovering and is 186% off from the lows.
|Listing on Binance||October 12, 2018|
|Mainnet Activation||October 31, 2018|
|Decentralized Summit Conference||January 29, 2019|
|Euro and Pound Trading Pairs||May 1, 2019|
|RVN Asset Support||May 11, 2019|
|Ravencoin Hard Fork||October 01, 2019|
Looking at the few months of data, the market has been trending up. Note that the uptrend has begun from a strong demand zone (purple ray) on the Weekly time frame.
Presently, the market is in a sideways direction and is holding above the Support & Resistance level at 0.01824.
Every time the market pushes up from this level, it gets shot down at 0.02207.
In this article, we have focused on the price of Ravencoin against the US Dollar. Following its price against other currencies:Ravencoin price in Euro – 0.0197 EUR
For other fiat currency price conversions, you can use Ravencoin calculator which can be found here.
When Ravencoin was launched, it got prevalent in the cryptocurrency market. After being listed cryptocurrency exchanges, the prices skyrocketed in the last quarter of 2018 due to the high demand.
But the prices failed to hold at these prices. However, it has steadily been evolving since then.
Thus, the raven coin has proved to be a potential cryptocurrency and not a “crypt.” It has a unique feature where, in phase 5 of Ravencoin’s roadmap called "messaging," the message is when the channel token and owner has been sent in a transaction to the sabroadcasted me address with an IPFS hash which is additional.Ravencoin, like most other currencies, is tied up with Bitcoin’s price movement. They are correlated to a great extent.
Since Bitcoin with great fundamentals still has potential for another push up, one can expect the same on Ravencoin as well.With these and some more factors, we have a positive outlook on the Ravencoin token. Also, since the Ravencoin prices are currently undervalued. Ravencoin can become a multibagger in the coming years.
Ravencoin Price, a year-old cryptocurrency, created as an alternative to Bitcoin and fork of the Bitcoin code, there are various speculations on this volatile coin.
Here are some expert forecasts and predictions on the prices of Ravencoin.
Wallet Investor, a popular website that is involved in forecasting cryptocurrency prices, has predicted $0.05406 as Ravencoin’s price target at the end of 2020. And they say that the prediction is more on the conservative side.
Price Predictor, another forecasting website, predicts Ravencoin price for the end of 2020 to be around $0.07456, which is quite close to the all-time high.
They are incredibly bullish on Ravencoin prices. However, they also stated that the prices could see some correction in the beginning, before it begins its massive rally.
The speculators on this website are the most bullish on Ravencoin prices. They predict the price of Ravencoin will reach head towards $0.14 in a period of one year.
Crypto Ground has analyzed the Ravencoin market and predicted that the prices would trend up to $0.0353 by the end of the year 2021.
Besides, their 5-year target on Ravencoin is to the levels of $0.0803.
Ravencoin is relatively new to other altcoins but is one of the most advanced forks of Bitcoin. Presently, there are plans to add more features in the coming future. This could bring a jump in market capitalization, resulting in more demand for the token.
Ravencoin is looking to multiply its user-base exponentially the years to come. All these updates are in progress and can go live in a year or so.
Thus, for the year 2021, we expect positive returns from this token. Finally, our Ravencoin price forecast for 2021 is $0.04000.
Released only a couple of years ago, Ravecoin is already near 50th rank in market capitalization. If the demand stays intact and increases steadily, it could be under the top 10 in five years.
Since the period is extended, Ravencoin can become more specialized, and developers can bring more exclusive features.
Ravencoin would certainly keep the demand for this token up and going. If it does prove to sustain even after five years, the upside potential for Ravencoin will not diminish yet.
Thus, our Ravencoin price prediction for 2025 is $0.1210.
As per our analysis, the Ravencoin project has shown remarkable rankings in social media as well as in search trends. This is a clear reflection of how much interest investors are paying towards Ravencoin.
The Project that Ravencoin is into, is quite impressive, but they are not a unique blockchain platform that allows registration and transfers of assets. However, they do have some other useful perks.
Ravencoin team is focused on completing the roadmap, and investors carefully observe how things come along with it.
As per technical charts too, we see great potential in Ravencoin, as it is currently reacting off from a strong demand zone.
Ravencoin is a blockchain platform that is primarily used to implement one task – transfer of assets. But, RVN has been working rigorously on bringing up new features.
Now, using the Ravencoin platform, users can register almost any type of asset, and then transfer and convert to others on the decentralized network. Likewise, the Ravencoin team is concentrated on building more exciting features.
Ravencoin Price makes Ravencoin a cryptocurrency with immense potential, paving the way to become one of the most highly valued assets in the coming future.
The current market price of Ravencoin as of 18th June 2020 is $0.02167.
The current market capitalization of Ravencoin is $13,89,61,316. It is ranked 50th in CoinMarkerCap.
The fundamentals and technical factors are bullish on Ravencoin. Thus, Ravencoin could reach $0.04000 by the end of 2021, around 90% gain from the current levels.
On a long-term perspective as well, the Ravencoin prices could maintain an upward trajectory. In five years from now, we predict the price to touch around $0.1210.
There are quite a several exchanges that allow traders to buy and sell Ravencoin. They also allow users to trade Ravencoin with other currencies.
If investors wish to buy and store their Ravencoin safely, they can use the official RVN wallet.
The community has developed several wallet versions from Windows, Mac, as well as Linux. Besides, there are third-party wallets where one can store Ravencoin.
© 2019 CoinGape. All Rights Reserved. CoinGape. com is operated by SquadX Innovations Pvt. Ltd. Address: gold Souk Mall, Sector- 43, Sushant Lok, Phase- I, Gurugram, Haryana 122002