Why Ravencoin Is Going To Explode In 2023

Ravencoin, the Bitcoin of asset issuance, has gained huge traction this year.

Last Updated December 29th 2022

7 Min Read

The cryptocurrency market has grown exponentially over the past few years. As a result, certain coins have emerged with entirely different use cases from Bitcoin, Ethereum, and the other top-of-the-chart coins.

Ravencoin is one such altcoin that has been gaining traction lately. Investors are thus curious to know why Ravencoin is going to explode in 2023.

Ravencoin is a fork of Bitcoin but is not a payment currency, rather a peer-to-peer system for the creation and transfer of assets. RVN’s sole focus is to improve upon asset ownership. So let us see why buying Ravencoin now could help investors in generating good profit in the future.

Looking At 2023: Is Ravencoin RVN All Set For A Massive Rally?

Ravencoin was launched in 2018 on the ninth anniversary of Bitcoin. The network provides a platform for users to create tokens of any kind and transfer ownership to others. Like other altcoins, RVN had a specific use case which makes it unique. It seamlessly moves assets directly between two parties by eliminating the need for any intermediaries.

One reason why Ravencoin is going to explode in 2023 is that it tokenizes assets, and there are thousands of assets in the market. This offers RVN a wide range of opportunities and has plenty of room for growth. Let us see a few features that boost the price of Ravencoin, which makes it a good buy now.

Here are some of the factors that back up the prediction that Ravencoin coin is going to explode in 2023.

#1: The Potential Of Ravencoin

Ravencoin is an entirely open-source community-driven project. It is a digital peer-to-peer platform that solely focuses on implementing a use case-specific blockchain. RVN does not incentivize running a node and thus promotes complete decentralization. It is best to buy Ravencoin now as the community driving the project is consistently growing and is incredibly dedicated.

Ravencoin is one of the top altcoins to buy now because virtually anything with a value can be converted into a token using it. Unfortunately, the project does not have a well-established development team or foundation like others. But because of RVN’s potential value, it has earned financial backing and support from crypto enthusiasts like Patrick Byrne, the CEO of Overstock.

After a long resistance, the price of RVN had a significant boost in the mid-of January 2021, hitting an all-time high of $0.2854 in February. Even though it has had a slight pullback, the coin has again started its massive rally the previous months. Since the coin is in its early stage of adoption, this might be the best time to buy RVN as it could rise even higher in the coming months.

#2: Unique Features Of Ravencoin

Ravencoin has several unique features that make it stand apart from other altcoins. RVN tokens created on the network can have any properties that the issuer decides. Users can easily create payment tokens, even tokens that represent real-world assets like NFTs, or virtual goods in a game. Ravencoin offers multiple modifications that other blockchains often lack, which is one reason why the price of RVN will rise significantly.

Be it a fungible or non-fungible token, scarce or unlimited, and even unregulated or programmed, Ravencoin allows anyone to create an asset to operate by following applicable regulations. Moreover, it enables users to transfer tokens that represent real-life assets. This could be stocks, gold and silver, collectables, and even hard assets.

Furthermore, users can also trade abstract assets like tickets or airline miles among themselves with the help of Ravencoin. With a wide range of features and applications, the token would see an increasing adoption rate in the coming years, which is why Ravencoin is going to explode in 2023.

#3 Bitcoin Vs Ravencoin

Even though Ravencoin is a direct fork of Bitcoin, the project offers several distinct features making it different from BTC. The one significant difference is in its block rewards. For Ravencoin, the block rewards are 5000 RVN, while for Bitcoin, it is 50 BTC. Moreover, block time in Ravencoin is cut down by 90% to 1 minute, whereas in BTC, it is 10 minutes. This makes RVN more scalable and efficient.

Ravencoin is a potential project focused on running an open and equally accessible network for everyone. Thus, the open-source ravencoin.org serves as the central hub for decentralized projects. This also means that, unlike other cryptocurrencies, Ravencoin had no pre-mine, ICO, or coins withheld for a developer or founder rewards, thus boosting its potential.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Is Ravencoin Going To Explode In 2023?: Expert Predictions

Although the token has just started gaining attention, experts see a bright future in RVN’S performance through 2023. Despite the recent plunge, analysts share a slightly bullish outlook for the price of Ravencoin in the coming years.

According to WalletInvestor, Ravencoin is an excellent long-term investment. They predict that RVN might hit a $0.168 price target by the end of 2023. They also expect it to surge up to $0.472 in five years.

Additionally, the Overstock CEO sees the enormous potential of RVN as a long-term investment and says that it is worth keeping an eye on. Byrne himself has invested millions of his own money in supporting the project. He believes that Ravencoin has the potential to rise significantly in value in the future and could be a viable investment option for profitable returns.

The Significance Of RVN Token

RVN, the native currency of the Ravencoin network, has seen a significant rise in its price recently. According to the project’s developer Tron Black, the RVN token’s relationship to the Ravencoin blockchain is similar to gas’s relationship to the Ethereum network and ERC-20 tokens.

The token helps to fuel the network in two ways. One, RVN is burned to create new assets. Second, it is used as fees paid for asset transfer. Moreover, the token can also be deployed as a safe method of value transfer, just like BTC or cash.

Ravencoin - The Bitcoin of Asset Issuance

Ravencoin has made a name for itself in the crypto market as the Bitcoin of asset issuance. Earlier, the Ethereum blockchain was the de-facto option for creating, issuing, and managing tokenized assets. However, later the developers of Ravencoin observed that a token standard is not the same as a blockchain, which is explicitly designed for tokenized asset creation and management.

The purported goal of the project was to establish itself as a blockchain solely focused on asset management and compliance. According to Tron Black, the developers forked it from Bitcoins code base as it seemed to have the most stable codebase compared to other cryptocurrencies. Since its inception, the token has strived to position itself as a potential asset management platform, and this is one reason why Ravencoin is one of the top altcoins to buy now.

Real-World Use Cases

One good reason to buy Ravencoin now is its array of real-world applications. It is a promising project that offers users the possibility of tokenizing real-world assets and items that can be transferred easily between parties at a relatively low price. RVN can also be used to issue asset tokens for real-estate and company shares to video game collectables and community points.

Yet another interesting real-world use-case of RVN was mentioned in its whitepaper. An art dealer could use RVN tokens as a certificate for any work they sell. Once the token is created, a serial number can be attached to verify or identify the particular work. Further, these can be transferred to the purchaser as a viable alternative to traditional physical certificates of authenticity. Such fascinating real-world applications would eventually boost the coin’s adoption rate, and Ravencoin could be one of the top altcoins that generate massive returns in the future.

Why Ravencoin Is Going To Explode In 2023

There is a growing interest in RVN from traders across the globe in the crypto market. One reason why Ravencoin’s price increased this year was the decision made by several traditional brokerage firms to temporarily halt the trading activity of certain individual stocks like GameStop (GME) and AMC Entertainment (AMC). As a result, traders believed that Ravencoin would play a crucial role in reshaping the industry by avoiding unfair practices that prevailed earlier.

It is best to buy RVN now for future returns as the coin’s forecasted value has managed to earn strong support from crypto enthusiasts and financial institutions alike. Furthermore, with the ongoing developments in its ecosystem, the price of RVN could significantly rise in the coming years, making it a viable long-term investment.

The Bottomline

To conclude, the Ravencoin community has successfully claimed that the future of assets is decentralized tokens managed on the blockchain. The coin has seen colossal traction lately, both from institutions and investors, which is one reason why Ravencoin is going to explode in 2023. As more people started embracing cryptocurrencies, altcoins like Ravencoin will significantly rise in 2023 and beyond, positioning itself as a potential long-term investment.