There are several altcoins that are registering interesting growth rates in the last weeks. This time, Ravencoin (RVN) was able to pump once again over 20% in just 24 hours.
Although Bitcoin keeps being traded sideways, there are some altcoins that are behaving very positively.
Ravencoin Spikes 20%
Ravencoin was able to grow 20% and become part of the positive trend that several altcoins are currently experiencing in the market. However, it seems that there is no reason behind this price increase in Ravencoin.
Since the beginning of March, Ravencoin was able to grow 255%, moving from $0.0148 to $0.0527. In the last 24 hours, Ravencoin has increased its price around 20% and it has a market capitalization of $165 million. This means that the digital currency is the 38th largest in the market.
According to Nulltx, there are different groups that tend to pump the digital asset and this is why the digital asset has registered this large price increase in such a short period of time.
This was our #RVN signal that we provided to our premium members on 17th March and its hitting last target
However, we also updated new targets#MyProTradeSignals #EagleCryptoWorld pic.twitter.com/p8iOXS8A2f
— Fanky (@ImFanky) March 23, 2019
There should be a catalyst for the price of this altcoin to grow in the way it did. But everything can be summarized to price speculation. In the near future, the digital asset can keep growing, but it would be strange if it is able to sustain such strong growth.
Ravencoin is a blockchain project that aims at making it easy for firms to transfer assets. Thus, Ravencoin could be part of the upcoming digitization of goods and securities.