coinquora.com
- Ravencoin is currently on a bullish trend.
- Notably, it is up above 21% in the past 24 hours.
- But will it reach $0.37?
Ravencoin RVN is currently on a bullish trend. Notably, it is up above 21% in the past 24 hours.
At the time of writing, the digital asset price is $0.118028. It has a 24-hour trading volume of $338,939,679, according to CoinMarketCap. Moreover, the crypto has a circulating supply of 9,395,140,000 RVN coins. And a maximum supply of 21,000,000,000 RVN coins.
Of note, the last months have been a nightmare for crypto traders and particularly for Ravencoin (RVN) holders. The coin saw its total market cap fall from its $2.01b peaks in late April to below $878m on May 21. This was the result of negative momentum that Chinese regulators fueled, prohibiting the offering of crypto-related products and services by crypto exchanges and financial institutions.
However, Ravencoin, the blockchain-based protocol — allowing developers and users to create tokens for virtually any asset, has jumped on a bullish trend above 21%.
The price surge comes after the recent Bitcoin price rally that sent other coins on a bullish trend. In addition, this uptrend momentum of the RVN has put Ravencoin on a more positive profile within the crypto world.
Further, this bullish trend pushed many investors and curious traders to wonder what’s next for this crypto. Some are wondering if the crypto will hit a new all-time of $0.37 soon.
According to Ravencoin’s whitepaper, the project holds some of Bitcoin’s features. This includes periodical halvings while Proof of Work (PoW) validate transactions. Therefore, the price is likely to surge more. But investors should proceed with caution as crypto is volatile.