BTC - This Crypto Soared Ahead of the Ethereum Merge and It's Not Ethereum Classic
A cryptocurrency called Ravencoin (CRYPTO: RVN) is soaring in the wake of Ethereum 's (CRYPTO: ETH) Merge, and its gains are outpacing even those of oft-cited Merge beneficiary Ethereum Classic (CRYPTO: ETC) . This smaller proof-of-work crypto is up more than 90% during the past month. What is Ravencoin, and can it continue to soar?
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Ravencoin is a proof-of-work cryptocurrency that ranks among the 60 most valuable cryptos by market capitalization. After its big month, Ravencoin now clocks in at a market cap of $750 million. While Ravencoin has been hot lately, it's by no means a newcomer to the crypto world. Ravencoin started as a Bitcoin (CRYPTO: BTC) fork in 2018 and is similar to Bitcoin in that it has a hard cap on the total supply of Ravencoin. There is a maximum supply of 21 billion Ravencoin versus Bitcoin's maximum supply of 21 million. Ravencoin differs from Bitcoin in that it offers smart contracts and allows holders to create their own tokens by burning 500 Ravencoins.
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This Crypto Soared Ahead of the Ethereum Merge, and It's Not Ethereum Classic