RavenCoin recovered slightly after Binance Pool support
The cryptocurrency trades in a descending trendline
RVN could fall further, although technical indicators have slightly improved
Ravencoin (RVN/USD) traded at $0.022 at press time after a slight correction. The cryptocurrency had developed some bullish signs previously, jumping from a low of $0.020 to $0.025. The gains came on the back of positive cryptocurrency news.
According to a November 23 announcement, Binance Pool is supporting RavenCoin. The RavenCoin mining service will use the PPS+ settlement, with the mining pool fees set at 1%. The support comes after September’s Ethereum merge fueled demand for the token. RavenCoin uses the proof-of-work consensus mechanism. Ethereum’s shift to the Proof-of-State consensus mechanism, therefore, fueled the demand for PoW tokens like RVN.
RavenCoin is itself a fork of Bitcoin, a PoW blockchain. The blockchain is a peer-to-peer network that lets users create tokens for any assets. The latest support by Binance Pool raises optimism that RVN could overcome a prolonged drop. But how bullish is the cryptocurrency?
RVN on a descending channel as gains fail to inspire a rally
Despite the recent gains, RVN is yet to overcome a steep descent that has been in place since September. The cryptocurrency trades on a descending trendline. It tested the upper bound of the trendline and is facing some resistance.
The MACD and RSI indicators are, however, positive on RVN. The MACD line crossed above the signal line to suggest a bullish reversal. However, the indicator is still bearish. Similarly, the RSI recovered slightly, but the reading remains below the midpoint.
Should you buy RVN?
RavenCoin’s momentum could last for a while. If buying RVN, you should be aware that further downsides are possible based on the price action.
Where to buy RVN
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
The crypto market has lost less than 1% of its value in the last 24 hours.
REN, TIME, and KAS are the top three performers despite the bearish market conditions.
Dogecoin and XRP have outperformed the other major cryptocurrencies so far today.
The cryptocurrency market will end the week in a negative manner. The total crypto market cap is down by roughly 1% today and currently stands at $827 billion. With Bitcoin and Ether all underperforming, we are looking at the top 20 best-performing cryptocurrencies in the last 24 hours.
Top 20 gainers in the last 24 hours
REN
REN is the best-performing cryptocurrency in the last 24 hours. It is up by 31% so far today and currently trades at $0.1062 per coin. REN is the native coin of Ren, an open protocol built to provide interoperability and liquidity between different blockchain platforms.
KAS
KAS is the native token of the Kaspa network. It is up by more than 15% in the last 24 hours and is the second-best performer so far today. Kaspa is a proof-of-work (PoW)cryptocurrency that implements the GHOSTDAG protocol.
FTT
FTT is the native token of the bankrupt FTX token. It is up by more than 17% in the last 24 hours and currently trades at $1.45 per coin.
Where to buy FTT now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Another exchange token on this list is HT, the native token of the Huobi exchange. HT has added 16% to its value today and is now trading at $6.58.
Where to buy HT now
Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
The native token of the Mask Network is one of the best performers today, adding 16% to its value and is now trading at $3.07.
EWT
EWT powers the Energy Web ecosystem and has added 10% to its value so far today. It is now trading at $4.31.
BAL
BAL is the governance token for the Balancer Protocol, and the token can be used to vote on proposals. BAL is up by 8% in the last2 4 hours and is currently trading at $6 per coin.
Where to buy BAL now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The popular meme token joins the list as one of the top performers today. DOGE has added 8% to its value and the price of Dogecoin currently stands above $0.08 per coin.
Where to buy Dogecoin now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
CHSB is the seventh-best performer in the market today and is the native coin of SwissBorg. The coin is also up by 8% in the last 24 hours and is trading at $0.23 per coin.
CEL
The native token of the Celsius cryptocurrency lending platform is also one of the top gainers this week. CEL is trading at $0.51 per coin, up by 7% in the last 24 hours.
Where to buy Celsius now
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
This is the coin of The Graph, a leading indexing protocol in the crypto space. GRT is up by 6% today and is trading at $0.062343 per coin.
Where to buy GRT now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
CSPR is the coin of Casper network, an L1 general-purpose blockchain similar to Ethereum. The coin is up by more than 5% today and is now trading at $0.0307.
THETA
The native coin of the Theta blockchain is up by nearly 5% today. At press time, THETA is trading at $0.927 per coin.
Where to buy THETA now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
STEEM is the native coin of the Steem network and is up by nearly 4% today. As the week comes to an end, STEEM is trading at $0.187535.
Where to buy STEEM now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
CTC powers the Creditcoin network and is also up by nearly 4% today. CTC is trading at $0.3578 as the week comes to an end.
EOS
EOS joins the best performer list after moving by 3% over the past 24 hours. As the week draws to a close, EOS is trading at $0.94 per coin.
Where to buy EOS now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
OCEAN, the currency of the Ocean Protocol, is up by nearly 3% today and is currently trading at $0.131 per coin.
Where to buy Ocean now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Bitpanda is a digital assets brokerage company. It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in. Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.
Golem is a decentralized supercomputer that is accessible by anyone, and GLM is its native token. GLM is up by more than 1% today and is now trading at $0.223.
Where to buy Golem now
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Ripple’s native currency is the second-major cryptocurrency to join the list after Dogecoin. The price of Ripple stands at $0.40 and is up by more than 1% today.
Where to buy XRP now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Gavin Wood co-founded Ethereum, Polkadot and Parity Technologies among other top crypto platforms.
He says FTX’s implosion offers a chance for crypto to go for “decentralised, trust-free technology.”
Wood stepped down as CEO of Parity in October, announcing his decision allowed him to focus more on building Polkadot.
Gavin Wood, the co-founder of blockchain platform Polkadot, says FTX’s failure isn’t a precursor of what’s to come in the crypto sector. It doesn’t count for the future of cryptocurrency, (even if a setback).
As for why, he says the collapsed exchange was a mismanaged platform that tried to hide behind a massive marketing strategy.
FTX was a ‘mismanaged, heavily-marketed’ company
The FTX token has lost nearly 98% of its value in the past month, all because FTX happened and most people within crypto are extremely irritated that it did. Of particular concern has been the impact to millions of people who didn’t get out as it became clear the Sam Bankman-Fried led exchange was in trouble.
And then 130 FTX affiliated entities filed for bankruptcy – with all these coming just months after SBF had painted himself as crypto’s ‘white knight.’
But despite the contagion that has followed the FTX fiasco, Wood says the event is nowhere near being a ‘harbinger for crypto.’
According to the Polkadot co-founder, if there’s anything, FTX has demonstrated one thing: the cryptocurrency industry needs to work towards “better decentralised and trust-free technology.” Wood shared his sentiment on Friday.
“I’m sick of hearing crypto confused with a heavily-marketed centralised, mismanaged exchange. FTX’s failure is far from a harbinger of crypto. Quite the opposite: it’s a concrete demonstration of the need for more, better decentralised, trust-free technology.”
I’m sick of hearing crypto confused with a heavily-marketed centralised, mismanaged exchange. FTX’s failure is far from a harbinger of crypto. Quite the opposite: it’s a concrete demonstration of the need for more, better decentralised, trust-free technology.
Wood stepped down as CEO of Parity Technologies, the firm he co-founded and which is behind the development of Polkadot, in October this year.
As we highlighted, the Ethereum co-founder noted his move was to help him focus more on Polkadot. He is currently the Chief Architect at Parity. Wood is also the founder of Kusama and Web3 Foundation.
PEGA Pool is set to launch next year and will become the first eco-friendly Bitcoin mining pool in the world.
PEGA Mining is focused on reducing the environmental effects of Bitcoin mining.
Clients that join the “Early Access” waiting list would benefit from a permanent 50% reduction in pool fees.
PEGA Pool will become the first eco-friendly Bitcoin mining pool
PEGA Pool is set to become the first eco-friendly Bitcoin mining pool and is expected to launch next year.
PEGA Pool, a platform dedicated to reducing the environmental effects of Bitcoin mining, is expected to launch in 2023. The project focuses on making Bitcoin mining eco-friendly.
PEGA Pool is owned and operated by PEGA Mining, a UK-based cryptocurrency mining firm.
According to the development team, PEGA Pool will focus on reducing bitcoin mining’s carbon footprint to create a more sustainable and eco-friendly industry. On its official website, the company said it would plant trees to help reduce the Bitcoin mining carbon footprint.
PEGA Pool is currently in the pre-launch phase and will be open to the public in Q1 2023. Clients can join the early access waiting list until launch. The team added that the PEGA Pool is open to all bitcoin mining clients regardless of their renewable energy usage.
PEGA Pool added that for clients that mine with non-renewable energy, it would use a portion of their pool fees to plant trees to help offset their mining carbon footprint. Clients that use renewable energy to mine cryptocurrencies will enjoy certain incentives.
For instance, clients that mine with renewable energy will enjoy a 50% reduction in pool fees. Furthermore, pool fees are 2% for non-renewable energy clients and 1% for renewable energy clients.
Clients that join the early access waiting list will enjoy certain benefits
The use of non-renewable energy to mine Bitcoin is a subject that gained wide coverage over the past few years. Companies like Tesla had to suspend accepting Bitcoin as a payment method due to concerns over its carbon footprint during mining. However, the company said it intends to start accepting Bitcoin as a payment option for its vehicles again in the future. PEGA’s effort toward ensuring eco-friendly Bitcoin mining could be what is needed to convince Tesla to start accepting BTC payments again.
With PEGA Pool currently in its pre-launch phase, the team said clients that join the “Early Access” waiting list would benefit from a permanent 50% reduction in pool fees.
PEGA Pool said it had planted 41,715 trees so far, for an estimated annual CO2 offset of 1111T. According to their official website, the team said PEGA Pool was built by miners and is run by miners. With years of experience in the crypto mining sector, the team understands what it is that miners need in order to be successful and profitable.
Binance’s proof of reserves system initially shows results for the flagship cryptocurrency Bitcoin.
The crypto exchange will add other tokens and networks as well as implement ZK-SNARKs.
Crypto exchanges are looking to show they have the assets they should hold after the shocking collapse of FTX.
Binance has published its proof-of-reserve (PoR) system, days after CEO Changpeng Zhao pledged to have the mechanism in place following the collapse of rival FTX.
The bankruptcy and the contagion that followed crashed the market, with Binance Coin price dropping to lows of $250. Bitcoin price also fell below $16,000, hitting its lowest level since 2020.
In response, multiple exchanges had released a snapshot of their asset reserves. But the crypto community largely noted the snapshot of assets alone wasn’t enough – there was a need to have exchanges’ liabilities also available.
Binance’s proof of reserves showed a 101% ratio
In its update on the issue, Binance has noted its users are now able to verify the exchanges holdings. As for what’s possible now, Binance announced the mechanism will initially support Bitcoin. The exchange will look to add other tokens and networks over the next few weeks.
Binance will also allow for the auditing of its proof of reserves results by third-party auditors and implement ZK-SNARKs to help bolster privacy and robustness.
“Because Binance offers Margin and Loans services, the audit results will show the Net Balance, Equity and Debt of each user, where the Net Balance = Equity – Debt,” the Binance team wrote.
A snapshot taken on 22 November 2022 at 23:59 (UTC) shows Binance’s on-chain Bitcoin balances stood at 582,485.9302, while customer net balance was 575,742.4228. The reserve ratio from the snapshot was 101%, with the margin at 6,743 BTC.
Binance customers can verify whether the exchange holds their crypto as it should.
