Ravencoin is up over 65% over the last seven days in the final run-up to the Ethereum merge
Ahead of The Merge, many altcoins are being watched. Including Ravencoin (RVN) price when the price increased by more than 15% in the past 24 hours. Over the past seven days, it’s 65%, rising from under $0.045 to as high as $0.072.
RVN/USD 4-hour chart | Source: TradingView
The pump in price comes as cryptocurrency exchange FTX announced the listing of Ravencoin perpetual futures.
Upcoming listing on FTX: Ravencoin $RVN perpetual futures!
— FTX (@FTX_Official) September 11, 2022
Ethereum Mining Alternative Ravencoin Jumps 65% Ahead of the Merge
Ravencoin activity had already increased recently as proof-of-work miners sought alternatives, as mining Ethereum will soon no longer be an option. Ethereum miners looking to continue their operations after the Ethereum blockchain switches to a proof-of-stake algorithm can mine Ravencoin.
Accordingly, Ravencoin’s hashrate has increased significantly over the past week, with its hash rate increasing from 2.79 Th/s on September 6 to 6.46 TH/s as of press time. Its network difficulty also doubled from 37.78k to 83.12k.
Additionally, FTX has announced that it will support perpetual futures trading for the token, which further leverages access to the token and it’s trading activity, as we mentioned above. As for FTX, the increased interest in Ravencoin enables traders to take advantage of the potential increase in Ravencoin price and activity. Futures allow speculators to bet on where RVN goes from here.
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