Ravencoin spikes 20% following Binance Pool announcement Rave | Trade Crypto Now

Ravencoin spikes 20% following Binance Pool announcement

Ravencoin (RVN) spiked 20% following Binance Pool’s announcement of mining services for the proof-of-work (PoW) coin. According to CryptoSlate data, RVN jumped to $0.024 from $0.021 within one hour of the revelation.

Binance Pool’s announcement revealed that it would charge a 1% mining fee, and users could only participate in the pool after verifying their accounts. Ravencoin was one of the proof-of-work networks miners flocked to after Ethereum transitioned to the Proof-of-Stake consensus mechanism. The initial rush saw its hashrate increase by as much as 5-times.

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