Ravencoin (RVN) surges 20% following Binance Pool. publication Overview of Proof of Work (PoW) coin mining services.
According to CryptoSlate data, RVN jumped from $0.021 to $0.024 within an hour of the exposure.
Binance Pool announced that a 1% mining fee will be charged and users will be able to join the pool only after verifying their account.
Ravencoin was one of the proof-of-work networks miners flocked to after Ethereum moved to a Proof-of-Stake consensus mechanism.
The first rush saw a 5x increase in hashrate.
On the other hand, Ravencoin’s mining hash rate have declined This is because it peaked at 17.5963 TH/s on September 22nd.
However, according to Coinwarz data, the recent announcement seems to have had a positive effect on hashrate, rising from 10.03 TH/s to 11.707 TH/s.
The post of Ravencoin jumping 20% following the Binance Pool announcement first appeared on CryptoSlate.