Ravencoin (RVN) spiked 20% following Binance Pool’s announcement of mining companies for the proof-of-work (PoW) coin.
In accordance with CryptoSlate knowledge, RVN jumped to $0.024 from $0.021 inside one hour of the revelation.
Binance Pool’s announcement revealed that it could cost a 1% mining price, and customers might solely take part within the pool after verifying their accounts.
Ravencoin was one of many proof-of-work networks miners flocked to after Ethereum transitioned to the Proof-of-Stake consensus mechanism.
The preliminary rush noticed its hashrate enhance by as a lot as 5-times.
In the meantime, Ravencoin’s mining hash charge has declined because it peaked at 17.5963 TH/s on September 22.
Nonetheless, the current announcement appeared to have had a optimistic impact on the hashrate, growing it from 10.03 TH/s to 11.707 TH/s, based on Coinwarz knowledge.
