RVN Hits Record Low as Miners Set Up 3-Day Reorg
Ravencoin (RVN) slid to a record low around $0.002754 after a exploited consensus flaw put several days of transactions at risk. RVN was down about 22% from its 24-hour high near $0.003529. Sell volume briefly exceeded ~$18M before easing to around ~$9.6M, and RVN later bounced modestly to about $0.00284.
Ravencoin said vulnerable nodes accepted invalid blocks. The first known invalid block was traced to height 4,487,776 (Aug. 7). Transactions confirmed after block 4,487,775 could be removed from the accepted chain.
Mining pools 2Miners and RavenMiner began building a competing chain that excludes the invalid-block branch from block 4,487,776. As they control a majority of the network hash rate, Ravencoin expects a reorganization covering roughly three days if their chain becomes dominant.
To reduce settlement risk, Upbit and Bitget suspended RVN deposits and withdrawals while trading stayed open. This aims to prevent users from seeing temporary credited deposits that may disappear after the chain reorg.
Traders should treat the RVN move as driven by technical risk and exchange settlement controls, not fundamentals, and watch for confirmation that the competing chain becomes dominant.
Bearish
RVN is under direct protocol risk: vulnerable nodes accepted invalid blocks, and a competing chain could replace the current one, potentially reversing transactions from the affected window. The expected ~three-day reorganization adds uncertainty, often leading to liquidity risk and lower confidence. Exchange deposit/withdrawal suspensions (Upbit, Bitget) further restrict capital flows into and out of RVN, which can amplify downside in the short term.
On the other hand, if the new chain becomes dominant quickly and exchanges resume services, RVN could rebound as settlement concerns fade. Still, given the record-low move and ongoing reorg process, the near-term trading bias remains bearish until final chain stability is confirmed.