Ravencoin Price Predictions: Where Will RVN Crypto Go Post-Merger?
A cryptocurrency that has attracted considerable attention lately is Ravencoin (RVN-USD). Today, Ravencoin has plunged 17% in the past 24 hours as market price discovery continues to provide volatility for this token. For investors looking to gauge where this token may head from here, the price predictions from Ravencoin experts are certainly of interest.
One of the reasons Ravencoin has been so volatile lately is the highly anticipated Ethereum (ETH-USD) merge. Late last night, the Ethereum network officially merged its mainnet with its proof-of-stake Beacon chain. This means that in the future, Ethereum mining will no longer be viable on the network. Instead, users can stake their tokens to help secure the network and validate transactions on the Ethereum blockchain.
For former Ethereum miners, Ravencoin’s proof-of-work consensus mechanism can be a haven. This is one of the reasons behind the previous token 85% rally. So, today’s price action with this token appears to be simply giving up some of those gains as investors look more favorably on Ethereum.
That said, miners will seek alternative networks flock to. If Ravencoin picked up many of the miners left behind by Ethereum, this network could become more secure. Whether that translates into growth over time remains to be seen.
That said, let’s take a look at where experts think RVN might be heading.
Ravencoin Price Predictions
For context, RVN currently negotiating at 6 cents per token.
- PortfolioInvestor provides a one-year price prediction of 0.71 cents per token for RVN.
- Government capital goes even further, projecting that RVN could be worth 14.6 cents in one year and 63.1 cents in five years.
- To finish, DigitalCoinPrice suggests that RVN could average 14 cents in 2023 and 29 cents in 2027.
As of the date of publication, Chris MacDonald had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.