Low-Cap Altcoin Jumps After Surprise Announcement From Crypto Exchange Binance

Low-Cap Altcoin Jumps After Surprise Announcement From Crypto Exchange Binance


The price of a little known altcoin is surging after getting support from Binance, the world’s largest crypto exchange platform by volume.

The trading platform’s mining pool service, Binance Pool, is adding Ravencoin (RVN) to its catalog of crypto assets as the Ethereum (ETH) merge in September spurred interest in the altcoin due to its proof-of-work (POW) consensus mechanism, which leaves room for mining.

Crypto miners could no longer mine the leading smart contract platform after it switched to proof-of-stake (POS) mechanism, causing a spike in demand for proof-of-work tokens such as RVN.

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RVN is used to maintain and operate the Ravencoin digital peer-to-peer network, which is based on a fork of the Bitcoin code and incentivizes the issuance of new crypto assets.

The project

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