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Ravencoin [RVN] sees a massive volume surge of 61,929% after Binance listing




The sleeping giant Ravencoin [RVN] has surged significantly with its seven-day volume increasing as much as 61,929%, with a 24-hour volume change at 55% This comes after the coin pumped 257% post its listing on Binance.

Ravencoin seems to be doing well in this everlasting bear market when compared to other altcoins. The price of the coin on October 11, was at $0.014 with a 24-hour volume at $237,252. After the official announcement on Binance blog post, the price shot up to $0.02 in the next day with the price reaching as high as $0.05.

7-day price graph | Source: CoinMarketCap

7-day price graph | Source: CoinMarketCap

The volume, however, has shot up from $184,000 to a whopping $116 million as on October 22, which is a humongous increase of 61,929%. This is by far the best gains the bear market has seen ever since the fall of bitcoin.

The CEO of Binance, Changpeng Zhao tweeted out the listing saying that the project had no ICO and built up by a team of humble people. Acknowledging the humble community behind the lesser-known project, CZ allowed the project to be listed without any listing fees. The coin was listed on the exchange on October 12, 2018. Notably, Binance holds the #1 spot among exchanges for highest trading volume.

The Ravencoin project is an open source Bitcoin fork launched in January 2018 that focuses on the creation of digital assets on its Proof-of-Work blockchain. The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator





Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.

“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.

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