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Just two weeks ago we have shared an interesting statistics based on the users of the widely used Hive OS Linux Mining OS that has shown the rapid increase of miners going to Kaspa (KAS) and now we are seeing the newcomer NEXA as well. So, in the last two weeks ETC miners have dropped […]
Ravencoin price continues to paint a bullish picture even as analysts warn of an impending pullback, especially for the largest cryptocurrency Bitcoin. The ardent investor [...]
According to the mining statistics provided by Hive OS network based on the users of their platform Kaspa (KAS) is the second most popular coin mined with already more than 50% of the Ethereum Classic (ETC) miners and the third spot is for RavenCoin (RVN) with around 30% of the miners of ETC. The comparison […]
Ethereum Classic saw its hashrate balloon when Ethereum finally moved to a proof of stake mechanism. The miners who were being kicked out of the network and could no longer use their machines had switched to others such as Ethereum Classic and Ravencoin to put their very specific machines to use. At the time, ETC’s hashrate had grown more than 200%, but now the network is seeing its hashrate fall once more. Ethereum Classic Hashrate Down By Almost 50% On Sep. 16, the mining hashrate of the Ethereum Classic network reached a new all-time high of 199.4 terahashes per second (TH/s) after climbing steadily for more than a week. With this growth had come more usage on the network, triggering staggering growth in its price. Related Reading: Bitcoin Retail Investors Now Hold 17% Of Total BTC Supply, But Is It Good News? However, as the Ethereum network has settled into its proof of stake (POS) consensus mechanism, the Ethereum Classic hashrate is correcting downwards. Hashrate is now down almost 50% in the last 3 months to be sitting at 109.3 TH/s on Dec. 22. ETC hashrate down almost 50% in 3 months | Source: Coinwarz The decline can also be attributed to the bear market and the muted interest from investors. Since bitcoin’s price touched below $20,000, all of the cryptocurrencies in the space have seen a similar decline. Ravencoin, another proof of work network that got massive attention following Ethereum’s move to proof of stake, has also seen its hashrate plummet in the last 3 months. Ravencoin’s hashrate now sits at 9.49 TH/s compared to its Sep. 22, 2022 peak of 17.59 TH/s. Meanwhile, other leading proof of work networks including Litecoin and Dogecoin has seen an increase in mining hashrate, whereas bitcoin remains mostly around 250 exahashes per second (EH/s). What About ETC Price? ETC, the native cryptocurrency of the Ethereum Classic network, was basically on a rollercoaster in the three months since Ethereum moved to proof of stake. At first, as the network began to get more attention, ETC’s price had risen drastically. It eventually peaked above $42 before starting another downtrend. Related Reading: https://newsbtc.com/news/bitcoin/microstrategy-bought-bitcoin/ At current prices, the digital asset has lost over 68% of its value from September 2022 and is still very bearish. A lot of attention had also moved on to Dogecoin, a proof-of-work cryptocurrency that saw a surge in price following Elon Musk’s takeover of Twitter. ETC price down 68% in 3 months | Source: ETCUSD on TradingView.com Obviously, this increase in the price of DOGE had incentivized miners to move over to Dogecoin, eventually taking share from Ethereum Classic. As interest fell, so did the mining hashrate and price naturally followed the same trend. ETC now sits below its 100-day moving average, which means that investors are expecting lower prices to come. It is trading at $16.41 at the time of this writing, down 11% in the last 7 days. Featured image from Crypto News Flash, chart from TradingView.com
Ravencoin (RVN) spiked 20% following Binance Pool’s announcement of mining services for the proof-of-work (PoW) coin.
The post Ravencoin spikes 20% following Binance Pool announcement appeared first on CryptoSlate.
Ravencoin is a forked version of Bitcoin with a slight variation. Bitcoin needs expensive hardware where miners solve complex mathematical problems to mine BTC, but Ravencoin can be mined with an average computer that consumes less energy than Bitcoin mining. It is a new cryptocurrency that was created in 2018. The main reason behind the …
Lately it hasn’t been easy finding a profitable coins to mine after Ethereum (ETH) switched to PoS, but there are some new projects that are worth checking out as they are gaining user attention. Interestingly enough they are not using the Ethash mining algorithm that has been used by ETH, but instead rely on KawPoW […]
Crypto miners who initially flocked to GPU-compatible proof-of-work tokens after the Ethereum (ETH) Merge are fleeing those networks after the value of their tokens fell, according to available data.
The post Miners flee PoW tokens as token prices tank, GPU value flounders appeared first on CryptoSlate.
Ravencoin is a forked version of Bitcoin which uses the same UTXO model of the main blockchain. Bitcoin provided a huge rally in the last two years, so many people expect a similar rally from Ravencoin. However, many experts think macroeconomic factors will play a vital role in the next few years. The potential risk …
This article is all about how to mine Ravencoin. Let's take a look at it in more detail.
Some Ethereum miners could split off and start their network via a hard fork or some miners are already moving to mine Ravencoin after ETH merge
Ravencoin has increased value significantly in the last seven days. Many experts believe Ravencoin runs on a Proof of Work consensus, so it is attracting Ethereum miners who have no option left in Ethereum mining (except ETC). It is a folk version of Bitcoin that runs on similar technology with slight variations. The best part …
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Ravencoin (RVN) has seen its price rise over 13% in the last 24 hours to $0.06359, capping a bullish week for the token.
The post Ravencoin price, hashrate spike as Merge draws closer appeared first on CryptoSlate.
Ravencoin (RVN) is a hard fork of the original Bitcoin code that was launched in 2018.
Click here to read our crypto digest.
Bullish RVN price prediction is $0.04800 to $0.13942. Ravencoin (RVN) price might also reach $0.2 soon. Bearish RVN price prediction
Bullish RVN price prediction is $0.06220 to $0.20520 The RVN price will also reach $0.3 soon. RVN’s bearish market price
The post has appeared first on thenewscrypto.com
The current cryptocurrency market retraced heavily as Bitcoin reached its new all-time high price of $68,000. Many altcoins crashed and entered a short-term bear market. Investors and traders are waiting for a confirmation of a trend reversal to enter the market. RavenCoin is a project that has the smallest market capitalization currently. It is also one of those altcoins that currently have interesting technical formations. Should you buy RVN tokens in anticipation of a break in the downtrend? Or should you wait further for stronger confirmations?
What is Ravencoin Crypto RVN?Ravencoin is a token that is mined on simple GPU and ASIC miners. It was forked from the Bitcoin chain in 2018. The coin provides traders with an avenue to create their tokens and send them to other traders. The developer’s mission was to create a token that could be mined using just the GPU of PCs.
Furthermore, they wanted the token to be mined by anyone without purchasing high-grade mining equipment. Unlike the majority of the tokens in the market today, there was no ICO when Ravencoin launched. This is because the developers wanted to avoid the concentration of the token in some hands.
Even though alike, Ravencoin’s difference with Bitcoin is mainly down to the consensus mechanism behind its design. The consensus mechanism is defined as how transactions made are added to the blockchain. Ravencoin uses the proof of work consensus mechanism. Even though it now uses the KAPOW mining algorithm, the token previously used X16R. With the KAPOW mining algorithm, the mining software to be used is randomly picked.
Furthermore, it makes it extremely difficult for hackers to manipulate the process. The mining method also means that miners’ rewards are based on the amount of mining power contributed to the network. This means that miners using low-end devices to mine the token would also be eligible for rewards. Unlike Bitcoin, Ravencoin destroys transfer fees instead of paying them to miners. The total number of coins to be mine is at a fixed rate of 21 million.
How to Buy RVN?There are multiple exchanges that offer RVN as a token. But investors should always choose a solid broker. Not only do they have the best prices to offer, but also they provide a safe and secure infrastructure to send and receive tokens. In case there was any problem, a support team would directly step in. On the other hand, other brokers' support teams would take days if not weeks to resolve a problem.
To Buy RVN, you can do so through Binance or Gate.io.
Why Should you Look to Buy RVN tokens?It is very simple. Most successful crypto traders nowadays are constantly on the lookout in the crypto market. They try to catch interesting technical formations and ready up long/short trades. This is because the cryptocurrency market is heavily influenced by technical analysis, and most crypto traders tend to look for the same indicators. This is how the prophecy becomes self-fulfilled.
Specifically for RVN, and as mentioned earlier, this token entered recently a bear market. Interestingly enough, we can see a clear formation of a symmetrical triangle in figure 1. If prices manage to breach the upper triangle, we can confirm higher prices going forward.
Fig.1 RVN/USD 1-day chart showing RVN's technical formation - TradingViewOn the other hand, breaching the triangle from the lower side might signal lower prices, especially at the beginning of 2022. Prices might reach back $0.05. Nonetheless, it is easy to gauge our risk by setting adequate stop-loss levels. The $0.09 price looks like a good SL area. But if things turn to the good side, prices might increase by more than 20%!
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Rudy Fares
top 3 cryptocurrencies© Cryptoticker
The post This Smallest Token by Market Cap might be a Good Buy right now… appeared first on CryptoTicker.
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