November 8, 2019
Although many people are skeptical about altcoins, claiming that they are already past their prime and the long-awaited second alt season will never occur, the stats speak quite the opposite. There are plenty of cryptocurrencies from the Top 50 that had displayed incredible gains over the course of the current year, and even now, after the September market drop, possess enough potential for continuing growth in the next six months.
One of such cryptocurrencies is named Ravencoin (RVN), which emerged in 2018 as a hardfork of Bitcoin that runs a blockchain ecosystem for the peer-to-peer exchange of digital assets and their ownership rights. Ravencoin is viewed by many as a significant improvement to the Bitcoin and Ethereum blockchains since the nodes of the former are unable to recognize an asset that is integrated into its code, while the latter is incapable of identifying the tokens present in smart contracts, which could lead to all sorts of confusion.
Ravencoin resolves these issues by incorporating the X16R hashing, along with 16 different mining algorithms, which, besides enabling the users to send and receive digital assets, allow for improved censorship resistance and privacy. Many members of the crypto community regard Ravencoin as one of the most promising cryptocurrencies that surfaced in 2018. Such positive sentiments can be explained by the genuine applicability of this solution, as well as its powerful price movements, as seen on this all-time chart.
Right now, Ravencoin maintains a healthy position in the rankings, being placed at the 41st spot on Coinmarketcap. During the last few months, RVN has seen several price drops, from which the coin had recovered rather quickly and with good upward impulses to the area of $0.4, though, in general, the price is still consolidating with slight hints at the bearish trend.
The current market capitalization of Ravencoin amounts to $140 million, with only 4,8 billion RVN token being already in the circulation of the total supply of 21 billion.
Although the difficulty of RVN mining increases continuously, the inflation remains an issue since there are approximately 70 million new Ravencoins entering the circulation on a daily basis, hampering the demand for RVN and diluting its value. But this also means that Ravecoin could still be undervalued, even though it showed massive gains of 121.3% on the year-to-date chart, which is only slightly lower than Bitcoin’s 145%.
Ravencoin is currently is the phase of lingering correction after hitting the all-time high of $0,08 on June 3. Whether or not the price of RVN will go deeper than the established support of $0,028 depends on the overall market conditions. Nevertheless, Ravencoin has already proven to be quite resilient to market downfalls, so even if the drop happens, the coin is likely to recover promptly.
The majority of indicators show that the crypto market, along with Ravencoin, should continue moving sideways for the remainder of 2019, with possible 5% to 10% short-term moves in either direction. In 2020, we should expect the introduction of the Messaging and Voting features, which should reflect positively on the price of Ravencoin. Should the team resolve the inflation issue, the value of RVN could easily reach $1 even in Q1 of 2020.
In 2019, cryptocurrencies can be called the most popular financial instrument. High volatility of tokens creates a good potential for obtaining...
XRP, formerly known as Ripple, is the third-largest cryptocurrency by market cap, with a m.cap of $11.8 billion and a daily trading volume of $1.3 billion. Obviously, that makes XRP...
V Systems (VSYS) belongs to a cohort of freshly surfaced altcoins that holds great potential but is often overlooked by most experts and analysts. The coin currently resides...
Ethereum (ETH) is the second-largest cryptocurrency in the world, at least when it comes to the size of its market cap. It is also considered by many to be the second most...
Bitcoin Satoshi's Vision, or Bitcoin SV (BSV), still remains one of the largest cryptocurrencies in the crypto industry. The coin currently occupies the 9th spot on the list of largest cryptos...
Bitcoin Gold is one of the numerous Bitcoin forks which emerged over the last several years. This particular one occurred on the block number 419406 and entailed a switch from the...
Binance Coin has just broken one of its largest resistance levels, and while it still remains to be seen whether or not this will be permanent, the coin still remains one of the best performers of the year...
The list of the top 10 largest cryptocurrencies by market cap is filled with coins that are still closely tied to Bitcoin, but even so, many of them have certain periods when they seem to have a will of their...
|1||Ledder||Aug 01||Dec 31|
|2||BitWings||Jun 03||Nov 30|
|3||Pbet||Jun 18||Dec 15|
|4||UCBI Banking||Oct 18||Jan 18|
|5||Cinemadrom||Feb 03||Apr 30|
|6||Yachtco||Aug 04||Feb 04|
|7||GOVEARN||Jun 23||Dec 31|
|8||BrandProtect||Apr 27||May 31|
|9||PointPay||Jul 22||Jul 22|
|10||WINBIX||Jul 01||Sep 28|
|BitMEX||3 069 312 071|
|EXX||2 250 568 625|
|Biki||1 853 598 655|
|BKEX||1 851 309 394|
|P2PB2B||1 753 668 584|
|CoinEx||1 597 757 171|
|Fatbtc||1 566 375 344|
|Binance||1 554 730 819|
|LBank||1 544 760 848|
|MXC||1 452 207 912|