The proof-of-work (PoW) public chain Ravencoin (RVN), after being listed on the Korean won (KRW) trading pair at Upbit, a top cryptocurrency exchange in South Korea, saw its price surge by 103.5% within 24 hours, reaching a recent high of $0.0231, which significantly boosted its market capitalization and related mining revenues.
Ravencoin Listed on Upbit
Upbit exchange officially announced the inclusion of RVN in its Korean won market on June 5, 2025, at 5 PM local time. Prior to this, Ravencoin was priced around $0.01 with a market cap of approximately $161 million. After the announcement, RVN's price quickly surged by about 94% and continued to rise. As of June, RVN's circulating supply is around 15.19 billion, with its market cap expanding to approximately $269.36 million. As the leading and most trusted exchange in the Korean market, Upbit's move significantly enhanced Ravencoin's market exposure and trading convenience. On the same day, Upbit also listed the LA token in its BTC and USDT markets.
A Korean industry analyst commented:
"Listing on major exchanges has a massive impact on cryptocurrency prices, especially in a highly active market like South Korea. Upbit's endorsement not only improved Ravencoin's credibility but more importantly, significantly increased its liquidity and trading convenience."
Silent Miners' Mining Revenues Skyrocket
The sudden price increase directly affected related miners' revenues. Calculating based on the industry-standard electricity cost of $0.06 per kilowatt-hour in "competitive regions", the 24-hour revenue increased by up to 2.4 times. The related mining difficulty also rose by 20% in a short time, with the mining revenue coefficient reaching 0.833. This means that miners who had already invested before the surge effectively saw their revenues increase by 2.88 times (2.4/0.833), essentially scoring a significant windfall.
As an old mineable coin using the KawPow algorithm, Ravencoin naturally supports a large number of older AMD graphics cards like RX570 and 5700XT, representing a substantial GPU scale serving computational power. This price surge is expected to be quite beneficial for veteran miners.
