The Ravencoin cryptocurrency project appeared long before the NFT "boom" - and performed (as it does now) largely similar functions. Thanks to Ravencoin, users can create new assets and turn securities or even miles into crypto assets. In this new article, we'll tell you all information about what crypto experts forecast for RVN, what affects the Ravencoin exchange rate, and how the cryptocurrency's rate has changed since its inception.
The summary table of forecasts is as follows:
Year RVN exchange rate in US dollars
- 2021 0.076 - 0.102
- 2022 0.1138
- 2023 0.285
- 2024 0.376
- 2025 0.136 - 0.496
Virtually all experts expect the RVN rate to rise soon. According to their forecasts, cryptocurrency will gain the most in 2025. Nevertheless, Ravencoin will not overcome $1.
What is Ravencoin and cryptocurrency RVN?
Ravencoin is a platform that allows users to create crypto assets. The protocol is designed to facilitate the creation and transfer of tokens, which are real assets such as securities, collectibles, gold, event tickets, or even airline miles. Ravencoin was launched as an open-source fork of bitcoin. The Ravencoin team took BTC's code and modified it to add additional features.
To protect its network, Ravencoin uses a consensus mechanism similar to bitcoin's Proof-of-Work. However, instead of mining on specialized hardware, any user wishing to become a miner can do so on their processor.
RVN rate in 2018-2019
The cryptocurrency Ravencoin gained popularity immediately after its launch. At the end of March 2018, after listing on the major exchanges CryptoBridge and Nanex, the cryptocurrency rose in price. There was a correction in the summer, but then there were several more big jumps. Ravencoin continued to rise in 2019, and on June 3, the cryptocurrency reached its peak of those years at $0.080258. After the sudden rise, there was a major correction, and the price dropped to $0.03.
RVN rate in 2020-2021
Source: CoinGecko
In 2020, the RVN cryptocurrency exchange rate showed growth at the beginning of the year, but in March, following the general market trend and the stock market crash, the value dropped sharply. Thereafter, there was short-term growth, which contributed to the fixation at the level of $0.02. In 2021, many cryptocurrencies made a breakthrough, renewing their historical highs. This included Ravencoin - on February 20, the cryptocurrency RVN was trading at $0.2854. The active growth phase took place in February, and only in May the cryptocurrency price went down. At the moment of writing this article, the rate of RVN is $0.05426. The market capitalization of the crypto project is $491, 786, 806. Ravencoin cryptocurrency is ranked 104th in CoinMarketCap.
What can affect the rate of Ravencoin?
The workings of the network
In July 2020, Ravencoin developers discovered a serious vulnerability that forced them to urgently update the protocol. The bug led to excessive issuance, at the expense of which attackers received a large reward for the block. Current user assets were not affected. Since the vulnerability was triggered, the number of artificially created RVNs was about 1.5% of the limit issue of 21 billion. Thus, the attackers got the number of coins that all miners would have to work 44 days to mine.
Partnerships
In June of this year, a developer shared the news of a partnership between Ravencoin and the Vincent app - it allows you to buy wine from boutique owners without intermediaries. This is an important step for the Ravencoin team, as the project has not been pleasing users with new partnerships lately. The Wine Bottle NFT project is a joint venture between Vincent and Laava Team. Vincent chose Ravencoin as their blockchain partner. Ravencoin is designed as an asset registry, so it effectively creates and transfers assets from one party to another.
Halving
Because the RVN cryptocurrency can be mined - it, like bitcoin, is subject to a halving procedure. Halving is the halving of miners' fees, which occurs every four years. Ravencoin has not yet undergone halving - it is expected around January 2022. Halving always affects cryptocurrency rates - bitcoin is a great example of that. It's too early to tell how the procedure will affect RVN, but the excitement in the community has already started!
Conclusion
RVN cryptocurrency had a stellar time in its early days. Back then, its success was based on solid fundamentals and a broader market that opened up the project. It's time for the RVN team to step up and continue to deliver valuable and tangible success to meet investor expectations. Stay tuned to ChangeHero for the latest news on Ravencoin and other cryptocurrencies. You can learn more from our blog. Follow us on Twitter to stay up-to-date!
