RVN rate rises by 23% after integration into Binance Pool

The mining fee for Ravencoin is set at 1%

23.11.2022 - 12:30

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What’s new? On November 23, the value of the token of Ravencoin (RVN) increased by 23,3%, to $0,02485. The probable reason for the growth is the addition of the asset to the Binance crypto exchange’s mining pool, as representatives of the company told on the blog. The mining fee for RVN is set at 1%. As of 12:20 UTC, the value of the altcoin has decreased slightly, it is trading at $0,02284, according to Binance.

Binance Blog

What is known about RVN? It is an open-source project that uses peer-to-peer access technology without intermediaries, created in 2018. Ravencoin uses the Proof-Of-Work (PoW) consensus algorithm, RVN tokens can be used for decentralized applications (dApps) and the purchase of non-fungible tokens (NFTs).

RVN has a market capitalization of $277 million and ranks 115th among all cryptocurrencies by this figure, according to aggregator CoinGecko.

On the eve of Ethereum’s transition to the Proof-Of-Stake (PoS) consensus algorithm, Ravencoin’s hashrate increased 7,5 times. After the Ethereum upgrade on September 15, the figure reached 22,39 TH/s. Currently, it is 11,93 TH/s.

Also since September 27, users of Binance Pool can mine the Ethereum forked token, which continues to work on the PoW algorithm.

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