Is RVN’s recent pump a result of Ethereum Merge?
Ravencoin lately topped the desk by turning into one of many market’s prime gainers. In reality, it recorded a hike of over 83% within the final seven days. For sure, this excited many in the neighborhood, due to which, the crypto was quickly rating on the social quantity entrance too.
⚡️TOP GAINERS OF THE DAY!
10 September 2022$LUNA $MIR $ANC $ACA $RVN $GAL $UOS $ATOM $FT $AZY pic.twitter.com/ZDksqaqsO8— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) September 10, 2022
On the time of writing, RVN was buying and selling at $0.05329, up by 20% in 24 hours with a market capitalization of $558,959,994. This episode may all be due to the much-awaited Ethereum Merge, which could drive some miners out of enterprise.
RVN on hearth?
A large surge in RVN’s mining problem was seen too, which immediately indicated a significant inflow of latest miners within the ecosystem as they switched from Ethereum. The mining problem gained upward momentum on 3 September and since then, it has risen to 62.36K – Its highest degree since February 2022.
The hike in problem was a results of an identical surge in RVN’s complete community hashrate, which additionally lately hit a seven-month excessive of 5.16TH/s.
Supply: 2miners
Earlier this month, Hiveon, a well-liked mining pool operator, introduced the launch of a brand new mining pool for Ravencoin. Based on Leon Ravencoin, a well-liked RVN influencer on Twitter, almost 430,000 miners are about to hitch the RVN mining ecosystem after the launch of the brand new mining pool.
430,000 miners coming to Ravencoin from @hiveonofficial.
Ravencoin Mining Pool launching!
Go $RVN
💥💥💥💥💥💥💥💥💥pic.twitter.com/XYNLiJMaAP— Leon Ravencoin 🅁🅅🄽 ₿ (@leon_texas) September 4, 2022
Apparently, days after the launch of Hiveon’s mining pool, it nabbed the 4th spot on Miningpoolstats’ chart. It is a big improvement because it signifies a promising future for the RVN mining neighborhood. As soon as the Merge is accomplished, will probably be fascinating to see what’s in retailer for RVN.
The battle of PoW tokens
Whereas RVN’s value and hashrate skyrocketed, one other one in all its rivals additionally flashed a considerably related efficiency. Ethereum Traditional, which appeared to take advantage of out of the Merge, additionally registered huge value upticks because it gained by greater than 20% within the final seven days.
Supply: 2miners
Furthermore, ETC’s hashrate additionally lately hit an all-time excessive of 53.45TH/s on 10 September. Surprisingly, after ETC’s hashrate touched its ATH, it declined barely and on the time of writing was 51.04TH/s. Subsequently, miners are in a dilemma about selecting the trail on which they plan to maneuver within the days to come back.
