Ravencoin (RVN) value has rocketed increased in February as a recent wave of shopping for quantity lifted the token’s value 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 report $1.28 billion in 24-hour buying and selling quantity.
A scroll by way of the venture’s Twitter feed reveals a rise in exercise from the account starting on Jan. 27, when the venture tweeted, “Inventory markets are reworking. Ravencoin is right here for many who wish to construct providers or concern property.”
Conventional monetary markets had been underneath stress 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 serious use case. Particularly, the issues being seen in public markets as a consequence of unhealthy ledgers could also be solved by distributed ledger expertise.”
RVN briefly spiked to $0.036 following the tweet earlier than getting into a correction section that pushed the worth as little as $0.023.
Rising Twitter quantity preceded the latest spike
VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for RVN on Feb. 17, previous to the latest value rise.
The VORTECS™ rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mix of information factors together with market sentiment, buying and selling quantity, latest value actions and Twitter exercise.
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 worth of RVN started to rise from $0.074 to its present value of $0.157.
Buying and selling volumes for RVN proceed to push to new highs alongside its rising value, which has lifted the entire market cap above $1.2 billion and made Ravencoin the latest addition to the rising listing of cryptocurrency unicorns.