Ravencoin Price Prediction 2023, 2025 and 2030: Will Ravencoin hit $1?
The Latest Price of Ravencoin
Ravencoin Performance in the last 12 Months
- Last 1 Month: +47.2%
- Last 3 Months: -5.4%
- Last 12 Months: -55.9%
Is Ravencoin a Good Investment?
Ravencoin is the blockchain that allows the issuance of tokens on its network and RVN is its native token. Ravencoin’s infrastructure is based on the fork of Bitcoin and it aims to be the alternative to Ethereum-like blockchains. Ravencoin’s USP is its security model and its consensus mechanism which is decentralization-friendly. Ravencoin uses a Proof-of-Work algorithm to secure the network (just like Bitcoin), but, it makes use of the X16R hashing algorithm in comparison to the SHA-256 algorithm of Bitcoin. This slight change provides more decentralized mining in Ravencoin when compared to Bitcoin.
However, competing with Ethereum is certainly not an easy task for Ravencoin because the Ethereum blockchain is well-established and widely used. Moreover, Ethereum’s performance is much better in the past few months, when compared to Ravencoin. Hence, only being an alternative to the Ethereum blockchain might not work in the favor of the Ravencoin blockchain.
The following are the primary use cases of RVN coins:
- RVN coins’ tokenized version can be used for trading, borrowing and lending in Defi applications on BSC (Binance Smart Chain).
- RVN coins can be used for creating NFTs using Mango Farm Assets (a crypto wallet).
- Being the official governance token of the Ravencoin blockchain, RVN token holders can participate in the governance of the platform through voting mechanisms.
But, RVN price movements in the past depict that it has a scope for slight growth if the market conditions ease out.
Competitor analysis: Ravencoin vs Ethereum
Ethereum is an open-source blockchain that is widely known for allowing decentralized smart contracts’ execution on the platform.
Ravencoin is a project that aims to offer an alternative to smart contract-centered blockchains and hence, it’s in direct competition with Ethereum. Therefore, let us have a brief comparison between both networks:
|Major audience||Organizations looking for a peer-to-peer blockchain solution.||Users looking for a platform to build smart contracts and decentralized applications.|
|Categories||Blockchain and Layer 1 protocols.||Blockchain, Crypto lending, Crypto staking, Defi projects, smart contracts, and Layer 1 protocols.|
|Performance in the last one year||-73.9%||-53.8%|
|Performance in the last three months||-19.4%||+14.4%|
|Performance in the last one month||+20.0%||+23.5%|
We can see that RVN’s market price is certainly recovering in the past month. However, it failed to outperform Ethereum during the entire period of analysis.
Ravencoin Price Prediction: Will Ravencoin hit $1?
To reach a price of $1, RVN Coin needs to grow by nearly 40 times considering its current market price of $0.025.
Note that Ravencoin reached its all-time high price of $0.222 in April 2021, where it grew by 17.1 times in just 4 months (from the lowest value of $0.013 in December 2020). Thus, it grew by nearly 4.3 times in one month.
Thus, Ravencoin requires 9.3 months to reach $10 as per the calculations.
However, the current market situation of liquidity and inflation is definitely not in the favor of the crypto market. Therefore, it cannot even reach $1 in the time calculated above. Therefore, reaching $1 is not an easy target for RVN and it will require certainly require much more time than just 9 or 10 months.
Ravencoin Price Prediction: Can Ravencoin reach $10?
RVN crypto needs to grow by 400 times to reach $10, considering its current market price of $0.025.
As it has shown a 4.3 times growth in one month (previously calculated), it will need a minimum of 93 months (i.e., less than 8 years) to reach a price level of $10.
However, as the macro and micro economic conditions (including inflation and liquidity) are certainly not good for the entire crypto market, RVN crypto will need more than 8 years to reach a price level of $10 (once the market conditions turn out to be in its favor).
Ravencoin Price Prediction 2023, 2025 and 2030
Ravencoin Price Prediction 2023 is $0.0469
Ravencoin Price Prediction 2025 is $0.0884
Ravencoin Price Prediction 2030 is $0.0422
Ravencoin Price Prediction Today
|1. Market's Wisdom||Neutral|
|1a. Market Data||Partially Negative|
|1b. Technical Recommendation||Buy|
|2. Crowd's Wisdom||Neutral|
|2a. Social Media Buzz||Steady|
|2b. Social Media Sentiment||Neutral|
Ravencoin Price Prediction: FAQs
What is the future of Ravencoin?
Ravencoin’s future is highly dependent on macro and microeconomic factors such as liquidity, inflation and CPI Index. As the CPI Index has increased to a lesser extent compared to the previous months, the cryptocurrencies like Ravencoin can expect some positive growth in the future.
How much does Ravencoin worth?
As per the coinmarketcap data, one RVN crypto is currently priced at $0.025.
Will Ravencoin go up?
RVN’s market price is 88.7% down from its all-time high price, meaning that it has huge scope to go up once the market conditions of liquidity and inflation ease up in the favor of the cryptocurrency.
What is Ravencoin used for?
Ravencoin (RVN) crypto can be used for trading, borrowing and lending in Defi applications on BSC, for creating NFTs using Mango Farm Assets and for governance purposes.
Is Ravencoin’s supply limited?
Yes, Ravencoin’s total supply is capped at 21 million RVN tokens and hence, no more than 21 million RVN tokens can be mined.
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How to Buy Ravencoin?
The steps to buying almost all cryptocurrencies is similar.
- The 1st step is to find the right crypto exchange.
- The 2nd step is to create an account in that particular exchange. In order to do that you need to verify your identity.
- After the verification is complete, the 3rd step is to fund the wallet. After this, you will be able to buy Ravencoin easily.
Where to Buy Ravencoin (RVN)?
The majority of exchanges are offering to list Ravencoin Crypto for trading. Here are some options to choose from:
- Coinbase, 2. Huobi, 3. Binance, 4. Official Ravencoin Website
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.