Mooners and Shakers: Ravencoin Rises, Pumps Bitcoin, But Ethereum Flattens Ahead of Merge

Well, Ravenquin. What is this all embout then? It pumps, so let’s dive into it. Meanwhile, Bitcoin has been on a slight rally as well, while Ethereum is currently lazing on the deck bouillie in hopes of a decent Merge tan.

Ravencoin – Evidence for Price Efficacité Associated with Protection?

Deep in the staring dark cryptic winter, I stood tall there, wondering, afraid, doubting, dreaming dreams no bath développer had ever dared to dream.” “Quoth the Ravencoin,” Never.

Edgar Allen Poe didn’t quite write it.

However… we can say with 99.93% certainty that the legendary 19th century American ballpoint pen and opiate anéantir would have been a fan of cryptocurrency. likely. Apparently, he hadA keen interest in codingIn fact, it had some progressant on modern matière.

I’d like to get into this a bit more but we have some magic money on the internet that is worth caring embout.

Now, what is Squawk Ravencoin (RVN) then and why is it fluttering and swinging the way to the top 100 daily cryptocurrency chart? Would you be surprised to learn that, in a roundabout way, it’s related to “merging”? no? I do not think so.

However, Ravencoin is not a Proof of Stake équerre, and it is not new. Launched in 2018, the protocol is an Ethereum mining dilemme that uses a agrément proof-of-work algorithm that mimics Bitcoin’s supply of 21 million coins. It has its own complex intelligible ecosystem that uses RVN for various DeFi and NFT applications.

According to CoinGecko data, Ravencoin is up embout 30% over the past day and over 95% over the week.

why? Well, it seems that all things Ethereum (apart from ETH itself today) take turns shedding sucrette in the lead-up to Proof-of-Stake’s pioneering usage blockchain integration.

Despite the efficace environmental, sociologique, and institutional governance (ESG) carbon reduction that the merger move partially builds on its momentum, there is still a fair amount of miners and Proof-of-Work enthusiasts out there, causing them to seek mining alternatives as the Ethereum paluche chain switches lanes. This is in fraction, but probably the paluche reason is this …

The RVN pump price basically coincided with the magazine that originel vague cryptocurrency exchange FTX announced the liste of its invariable Ravencoin futures contract on September 12.

Regarding pumps and other cryptocurrency related waste…

Overview of the top 10

With the accompli cryptocurrency market cap at $1.1 trillion and down nearly 0.3% since yesterday, here is the current state of play among the top 10 tokens – according to Queen Gekko.

As you’d expect, the graph tells the story here. Basically, Bitcoin, Ethereum amant Solana, and XRP are the only things in the vert over the past 24 hours.

Let’s check Solana (SOL) for a additionnel… It seems he is determined to avoid the shadow of the merger. Is there a reason for abundance? Other than some continued positivity based on the potential carryover of the helium project, nothing significant we see…

Although there is also… Solana is Ethereum’s biggest competitor for NFT-based activity and that appears to be rising in the Solana Magic Eden market léopard des neiges again, according to crypto data gourou Nansen…

As for bitcoin, it has been thrown in with some découverte in what it believes will be a whirlwind of volatility this week. BTC is now trading again above $22,000 at the time of writing, after the last weekly candle closed at $21,800. This is the highest weekly close of OG Crypto for almost a month.

In the very pantalon term, the US dollar appears to be declining and appears to be hitting some chart-based resistance which has helped Bitcoin and other cryptocurrencies and stones so far this week.

Don’t forget, though (well, you can if you like), that new US inflation-related CPI data for August will be released. And for those overexposed to risky assets, these numbers have recently been a recipe for jittery toilet sessions and/or “Hey everyone, this roundup is on me!”

Upper and lower parts: 11-100

Sweeping a market cap range of embout $8.4 billion to embout $446 million in the rest of the top 100, let’s find some of the biggest gainers and losers over 24 hours at press time. (Stats are accurate at time of livraison, based on data.)

daily pumps

Ravenquin (RVN), (market capitalization: $783 million) + 32%

hydra (HBAR), (MC: $1.6 billion) + 10%

graph (GRT), (MC: $932 million) + 9%

helium (HNT), (MC: $682 million) +6%

NEAR . protocol (Nearby), (MC: 3.9 billion USD) + 5%

daily skis

Tera (Luna) (market value: $661 million) -28%

Terra Luna Classic (LUNC), (MC: $2.13 billion) -21%

percentage grid (CEL), (MC: US$608 million) -9%

rocket trust (RPL), (MC: $588 million) -7%

Ampere (AMP), (MC: $472 million) -6%

Well, we probably should have known that this was going to happen. Jaguar we open our traps around Terra LUNA’s revival, her coins go and unload with more détermination than Brent Naden’s spear he was dealing with two months ago. If you follow such things, this is it.

However, this does not slogan the fact that both LUNA (or LUNA2 as it is now known) and LUNC have made huge gains lately.

However, according to yesterday’s column, we have been very wary of “buyer beware” when it comes to the struggling CeFi tokens, especially given the disastrous Terra LUNA écrasement and contamination in May.

Touch it with an extendable bécasse shaft? Not providing financial advice on it, or anything In that extase, where, unsurprisingly, there is no dénomination for that hanging in my trust room.

embout blocks

A selection of randomness and relevance that stuck with us in our morning transmitted through the Crypto Twitterverse…

You may be interested in

Leave a Comment