The Ravencoin cryptocurrency price is momentarily on a bullish trend above 21% in the past 24 hours.
According to CoinMarketCap, Ravencoin (RVN) is trading at $0.138028 with a 24-hour trading volume of $338,939,679 at the time of writing. This means the crypto is up by over 21%.
In addition, based on CoinMarketCap data, Ravencoin has a circulating supply of 9,395,140,000 RVN coins. And a maximum supply of 21,000,000,000 RVN coins.
Looking at this uptrend, we can say that RVN, the native token of Ravencoin is performing well despite it saw its total market capitalization drop from its $2.01 billion peaks in late April to below $878m in June this year.
In addition, this was fueled by the Chinese crypto-market crackdown and Elon Musk's Bitcoin remark in late May. During that time, the crypto market took a hard blow, with BTC dropped by 30%.
However, the blockchain-based protocol that allows developers and users to create tokens for virtually any asset, is on a bullish trend above 21%.
For instance, the price growth comes after the recent Bitcoin (BTC) price rally. This helped altcoins (other coins) see their price skyrocketed. As a result, this trend momentum of the RVN gave Ravencoin a positive profile within the crypto industry.