Ravencoin (RVN) worth has rocketed increased in February as a contemporary wave of shopping for quantity lifted the token’s worth by greater than 800% prior to now 20 days.
Information from Cointelegraph Markets and TradingView reveals that RVN rose from $0.016 on Jan.29 to a brand new all-time excessive of $0.189 on Feb. 19 on high of a document $1.28 billion in 24-hour buying and selling quantity.
RVN/USDT 4-hour chart. Supply: TradingView
A scroll by the mission’s Twitter feed reveals a rise in exercise from the account starting on Jan. 27, when the mission tweeted, “Inventory markets are reworking. Ravencoin is right here for many who need to construct providers or concern belongings.”
Conventional monetary markets have been beneath strain on the time because of r/Wallstreetbets and its squeeze of GameStop shorts which subsequently led to brokerage companies briefly suspending entry to a number of shares.
A follow-up tweet on Jan. 29 learn:
“Ravencoin was particularly designed and developed with securities as a significant use case. Particularly, the issues being seen in public markets as a consequence of unhealthy ledgers could also be solved by distributed ledger know-how.”
RVN briefly spiked to $0.036 following the tweet earlier than getting into a correction section that pushed the value as little as $0.023.
Growing Twitter quantity preceded the current spike
VORTECS™ information from Cointelegraph Markets Professional started to detect a bullish outlook for RVN on Feb. 17, previous to the current worth rise.
The VORTECS™ rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of knowledge factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.
Cointelegraph Markets Professional – VORTECS™ Rating (inexperienced) vs. RVN Worth
As seen within the chart above, the VORTECS™ rating hit a low of 56 on Feb.14 after which proceed to rise to a excessive of 84 on Feb. 17, shortly earlier than the value of RVN started to rise from $0.074 to its present worth of $0.157.
Buying and selling volumes for RVN proceed to push to new highs alongside its rising worth, which has lifted the entire market cap above $1.2 billion and made Ravencoin the latest addition to the rising checklist of cryptocurrency unicorns.