What is Ravencoin (RVN) crypto? know price and performance

May 20, 2022 02:07 AM AEST | By Rupam Roy

What is Ravencoin (RVN) crypto?

Ravencoin is a digital peer-to-peer (P2P) network focused on implementing a use case-specific blockchain created to handle one specific function - transferring assets from one party to another. It is built on a fork of Bitcoin code.

Also Read: Why is Kyber Network Crystal v2 (KNC) crypto up over 17%?

After unveiling the project in October 2017 and releasing the binaries for mining, its full launch came in January 2018, without any pre-mine, initial coin offering, or masternodes. The project name has been inspired by the hit television series Game of Thrones.

Bruce Fenton, Joel Weight, and Tron Black had published the project’s whitepaper. It claims to have made key changes to the network, like modifying the block reward issuance schedule for 5,000 RVN tokens, reducing the block time to one minute, and capping a coin supply of 21 billion. It also introduced a mining algorithm that lowered the mining centralization caused by ASIC hardware.

Also Read: What is Grove (GVR) token? know price and performance

It intends to solve the issues related to the transfer of assets over the blockchain. Meanwhile, the RVN coins are designed as an internal currency within the Ravencoin ecosystem. RVN must be burnt for issuing the tokens on the network. These assets could represent real-world custodial objects like gold, currencies, stocks, etc.

The RVN token is available on exchanges like Binance, Huobi Global, OKEx, etc.

Also Read: Top S&P 500 industrial stocks to explore: DE, RTX, LMT, WM & RSG

Data Source: CoinMarketCap.com

Bottom line:

The Ravencoin (RVN) crypto was priced at US$0.03026 at 10:50 am ET on May 19, up 4.63%, while its volume for the last 24 hours declined 10.11% to US$16.86 million. It has a market cap of US$311.46 million, and its fully-diluted market cap is over US$624.51 million.

The token has a maximum supply of 21 billion, and its total and current circulating supply are over 10.47 billion. It returned gains of 26.62% in the last seven days. The token saw the highest price of US$0.05742 and the lowest price of US$0.02028 in the last 30 days.

Also Read: Why is IDEX (IDEX) crypto up over 122%?

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.