Ravencoin (RVN) value has rocketed larger in February as a recent wave of shopping for quantity lifted the token’s value by greater than 800% prior to now 20 days.
Knowledge from Cointelegraph Markets and TradingView exhibits that RVN rose from $0.016 on Jan.29 to a brand new all-time excessive of $0.189 on Feb. 19 on prime of a report $1.28 billion in 24-hour trading quantity.
A scroll by means of the venture’s Twitter feed exhibits 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 companies or subject property.”
Conventional monetary markets had been beneath stress on the time due to 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 dangerous ledgers could also be solved by distributed ledger know-how.”
RVN briefly spiked to $0.036 following the tweet earlier than coming into a correction part that pushed the worth as little as $0.023.
Growing Twitter quantity preceded the current spike
VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for RVN on Feb. 17, previous to the current value rise.
The VORTECS™ rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mixture of information factors together with market sentiment, trading quantity, current 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 whole market cap above $1.2 billion and made Ravencoin the latest addition to the rising record of cryptocurrency unicorns.