By Tyler S - Wallet Specialist - 18-08-2021
In recent news within the cryptocurrency trading community, Ravencoin (RVN) investors are looking forward to seeing the coin reach new all-time highs. In recent weeks, the crypto market investment has been on quite the bullish trend and even more so in the last 24 hours as this coin spiked with a 21% increase. The price increase has left many investors wondering if the cryptocurrency can hit the next checkpoint of $0.37?
When looking into the statistics of Ravencoin, the 21% increase has now taken the price to $0.118028 at time of writing; this now means that Ravencoin has a 24-hour trading volume of $338,939,679. Upon further observation into the cryptocurrency, there are currently about 9,395,140,000 RVN coins in circulation, with a maximum supply of 21,000,000,000 RVN coins.
Despite the current bullish news for many crypto investments 2021, including Ravencoin, the last few months in the crypto world overall haven't been great for the crypto community. Negative news sparked massive declines throughout the crypto market, leaving no stone unturned; RVN was no exception to this.
During the crackdown, RVN's market cap fell from $2.01 billion in late April, taking down the total to less than $878 million only a month later. Of course, as previously stated, this was a result of the crackdown that Chinese Regulators started. The regulators prohibited any business in China from supplying crypto-related products and even crypto asset management services.
Every month this year, the crypto market has shown a stark contrast in price values for most crypto assets, proving how volatile cryptocurrency is. This further leaves many investors wondering what's the next stage for their favourite cryptocurrencies. However, as it stands, the way the crypto market recovered from the crash has led many investors hopeful that the Ravencoin bull run would be hitting all-time highs soon enough.