Ravencoin Price Overview
The current Ravencoin price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Ravencoin is based on a market capitalization of EUR. Ravencoin has a circulating supply of . The highest recorded Ravencoin price is EUR. And the lowest recorded RVN price is EUR.
The name Ravencoin was inspired by Game of Thrones as, like the Ravens in the TV show, the Ravencoin blockchain is focused on the use-case of carrying statements of truth – in the case of the blockchain, those statements are about the transfer of assets. The project was based on a fork of the Bitcoin code but with changes to the block reward time and the addition of asset creation and messaging capabilities. Token assets can be issued on the platform with different properties to represent a range of things, including shares, virtual goods, physical assets, and credit.
RVN is the network’s internal currency and is burned when issuing tokens. Since joining the crypto market, its price has changed significantly and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of RVN price – as well as the factors which influence it.
Ravencoin Price History
Ravencoin entered the market in March 2018, trading at about $0.03. After dipping below $0.02, it surged to $0.07 several days later, but had returned to $0.04 by the end of the month. Another brief burst of buying pressure saw prices almost reach $0.06 in May, before declining to little more than $0.01 over the next couple of months. The next significant surge took place in October, when RVN almost hit $0.07 again. The trend soon reversed, however, and by the end of the year, RVN was worth $0.013, having lost more than half its value since the token’s launch.
There was further decline in early 2019, as prices dipped below $0.01 in February. At the end of the month, RVN experienced positive momentum which carried it up to a high of $0.08 in April. Prices consolidated for the next couple of months and began to fall in June. A mostly bearish trajectory prevailed for the rest of the year and as 2019 came to a close, RVN was trading at $0.023, still providing returns of 77% over the course of the year.
The beginning of 2020 looked positive as RVN climbed to a peak above $0.04 in mid-February. The rally was short-lived though and a month later, prices bottomed out at $0.008 after crashing by more than 50% during a single day in March. The next five months brought steady gains and RVN had almost reached $0.03 in August. The bears then prevailed and prices fell to $0.01 at the start of November. The rest of the year saw only a slight improvement followed by sideways movement. RVN had a value of $0.013 when 2020 finished, representing a loss of 44% for the year.
Prices began to rally at the end of January 2021 and the growth became exponential in February as the Ravencoin market cap surpassed $1 billion for the first time. The surge culminated in a peak at RVN’s all-time high of $0.30 on Feb. 20, by which time the Ravencoin market cap was nearing $2 billion. A more than 60% pullback meant that prices fell to $0.11 at the end of the month, and a couple of further attempts to rally in March and April only succeeded in reaching $0.29 and $0.28 respectively. RVN dipped below $0.11 later in April, and although it rebounded to above $0.20 at the start of May, the bears took control after that. Prices touched lows of about $0.05 during a single-day crash of almost 60% later that month and fell further to $0.04 in June.
Analyzing Ravencoin Price History
Ravencoin price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With RVN, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders sell or buy Ravencoin on exchanges.
Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. The project employed a fair launch, meaning there was no initial coin offering, premine, or masternodes, and it uses an ASIC-resistant mining algorithm to make the network more decentralized. As a fork, Ravencoin inherits the security and robustness of Bitcoin, while the team behind the project comprises experienced businessmen and developers, with previous careers at Overstock.com, Morgan Stanley, and the Bitcoin Foundation. This could potentially be a good sign for the fundamental Ravencoin value.
Broader market trends have also played a role in the price history of RVN. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
RVN’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.
The overall Ravencoin price trend tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of Ravencoin (RVN)
A variety of different things can affect the price of RVN, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.
RVN has a capped max supply of 21 billion coins, making it a scarce asset, like Bitcoin, and so potentially a good store of value in the long run. However, as RVN must be burned to issue assets on the Ravencoin network, the total supply actually decreases, putting upward pressure on the price of the token in the long term.
Demand for RVN comes from people who want to issue assets. The flexibility of Ravencoin’s asset issuance means that assets can be named, limited in quantity, and issued as securities or collectibles. This has a range of possible applications including land deeds, energy credits, event tickets, in-game items, tokenized stocks, airline miles, and gift cards.
If the number of people and businesses issuing assets on the platform grows, this will both increase demand for RVN and reduce its max supply. Activities which drive network adoption, such as Ravencoin protocol improvements, added functionality, and community engagement, could therefore boost RVN price.
Live Ravencoin Value and Market Cap
The live RVN value varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given RVN’s volatility, its current price can change by a large amount in a very short space of time. The market cap of Ravencoin is equal to the price of RVN multiplied by the number of RVN in the circulating supply.
Ravencoin Price FAQ
What Is the Highest Price of Ravencoin in EUR?
Ravencoin price history shows that RVN has recorded a peak value of EUR.
What Is the Lowest Price of Ravencoin in EUR?
Kriptomat data confirms that EUR is the lowest recorded Ravencoin value.
How Can I Buy Ravencoin?
There’s no need to consult an expert to tell you how to buy Ravencoin. It’s fast and easy to buy RVN at Kriptomat. Ravencoin is available for immediate purchase at the current RVN price quote of EUR. Current prices are always displayed in the RVN chart.
What Is the Current Price of Ravencoin in EUR?
Ravencoin is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of RVN calculated?
RVN’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying RVN than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of RVN different on each crypto exchange?
RVN’s price is based purely on trading as there is no standard global Ravencoin price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will RVN be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of RVN. However, as issuing assets on Ravencoin both creates demand for RVN and reduces its total supply, a future growth in network users could mean a rise in RVN price.
The price of RVN has changed significantly since it joined the crypto market, going from lows of under $0.01 to highs of $0.30. Its journey hasn’t been smooth, however, as RVN’s volatility has led to plenty of surges and crashes along the way.
Many different factors have played a role in determining the price of RVN, including demand from asset issuers, the amount of tokens being burned, and trends in the rest of the cryptocurrency market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Ravencoin and cryptocurrencies!