Ravencoin spikes 20% following Binance Pool announcement

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Ravencoin (RVN) spiked 20% following Binance Pool’s announcement of mining providers for the proof-of-work (PoW) coin.

In keeping with CryptoSlate information, RVN jumped to $0.024 from $0.021 inside one hour of the revelation.

Binance Pool’s announcement revealed that it will cost a 1% mining price, and customers may solely take part within the pool after verifying their accounts.

Ravencoin was one of many proof-of-work networks miners flocked to after Ethereum transitioned to the Proof-of-Stake consensus mechanism.

The preliminary rush noticed its hashrate enhance by as a lot as 5-times.

In the meantime, Ravencoin’s mining hash charge has declined because it peaked at 17.5963 TH/s on September 22.

Nevertheless, the current announcement appeared to have had a constructive impact on the hashrate, rising it from 10.03 TH/s to 11.707 TH/s, in line with Coinwarz information.

Journalist at CryptoSlate

Oluwapelumi is a believer within the transformative energy Bitcoin and the blockchain business holds.

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