RVN Price Analysis August 2022

RVN is a token of the platform Ravencoin. Its current price is around $0.04106 by the time of writing, with a low of $0.01728, and has a market cap of 429 million dollars.

What is Ravencoin?

Ravencoin is a highly efficient, token-enabled Proof-of-Work (PoW) blockchain. It has been specifically designed to facilitate the issuance of tokens, acting as an alternative for chain-dependent crypto assets such as Ethereum.

Ravencoin cleverly uses unique hashing algorithms to ensure that it doesn’t need expensive, specialized hardware to mine the digital asset.

This keeps the puzzles from becoming too sophisticated and prevents anybody with an average computer from mining Ravencoin. It is a blockchain project that allows you to issue tokens representing real-world assets easily. They can be used for gold, shares of stock, or even virtual goods.

What is RVN?

RVN is the coin of the Ravencoin platform, which is around $0.04106 by the time of writing, with a low of $0.01728. It reached a high of $0.1663, and its current ranking is #100 according to CoinMarketCap, with a market cap of 429 million dollars.

RVN is the native token of a Bitcoin fork that’s focused on decentralized peer-to-peer transactions. It is a Blockchain that provides the ability to Issue Tokens. Ravencoin is a Bitcoin Fork designed to issue tokens and digital assets easily.

RVN Coin Market Analysis 

RVN has a total supply of 10,473,290,000 coins worth around $0.04106 with a market volume of 71 million dollars, whereas the market capitalization is 429 million dollars at writing. 

RVN Price Prediction

RVN is forecast to reach $0.035 this year and continue to rise, reaching $0.073 in 2024 and $0.11 in 2025. In the 4H timeframe, the price action of $RVN/USDT is trying to break its major horizontal resistance zone. We have to wait for a successful breakout. 

On-demand analysis on $RVN or any other coin can join our Telegram channel at any time.

Rvn Price Chart August 2022
RVN Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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