Ravencoin Jumps 20% on Binance Pool Mining Support

Ravencoin (RVN) surged over 20% after Binance Pool announced the launch of a new mining pool for the token, attracting miners seeking alternatives since Ethereum's shift to Proof-of-Stake (PoS) in September [1, 2]. The move highlights ongoing competition among Proof-of-Work (PoW) blockchains to capture hashpower from former Ethereum miners.

Binance Pool Targets PoW Miners

Binance Pool launched its Ravencoin (RVN) mining pool on Wednesday, charging 1% fees [1]. This initiative comes as crypto miners search for new PoW tokens following Ethereum's transition from PoW to PoS in mid-September [1, 2]. Since the Merge, Ethereum miners have sought out tokens like Ethereum Classic, Ravencoin, and Beam to continue utilizing their mining rigs [1].

Ravencoin's computing power has increased fivefold since Ethereum's switch to PoS, according to Coinwarz [1, 2]. Ravencoin is a PoW blockchain designed to facilitate token issuance and transfer, positioning itself as an alternative to other major blockchains [1, 2]. Its infrastructure is based on a Bitcoin fork but allows users to launch new tokens, similar to Ethereum [1, 2]. Binance Pool previously launched support for Ethereum Proof-of-Work (ETHW) mining services two months prior [1, 2].

Recent Network Vulnerability

The recent price jump follows a significant network vulnerability that emerged on August 7, 2026, which allowed invalid blocks to be accepted by vulnerable nodes [3, 4]. The first known invalid block appeared at height 4,487,776 [3]. This flaw led to a 20% crash in RVN's value and put transactions made since August 7 at risk of reversal [3].

The network's developer warned that the blockchain might erase several days of transactions, with deposits, withdrawals, and payments made since Friday at risk [3]. Two major mining pools, 2Miners and RavenMiner, which control a majority of Ravencoin's hashpower, are mining a chain that excludes the exploited branch from block 4,487,776 [3, 4]. If this alternative chain becomes dominant, it could result in a deep reorganization of approximately three days [3]. Exchanges like South Korea's Upbit and the Netherlands' Bitvavo temporarily froze RVN movement in response [3]. The sell-off wiped out months of range-bound trading for RVN, which had been between roughly $0.0038 and $0.0045 since mid-June [3]. The token's market cap fell to $46 million, shedding tens of millions in value [3].

What to watch

• Hashpower distribution: Monitor the concentration of hashpower among mining pools, particularly following the recent vulnerability, as it impacts network security and potential for chain reorganizations [3].
• Exchange support: Observe how exchanges respond to the network's stability post-vulnerability and whether any further suspensions of RVN deposits/withdrawals occur [3].
• Miner migration trends: Track the ongoing migration of PoW miners to Ravencoin and other alternative tokens as they seek to deploy their hardware after Ethereum's Merge [1].

The addition of Ravencoin to Binance Pool provides a new avenue for PoW miners, but the recent network vulnerability highlights the inherent risks and challenges in maintaining consensus and security for such blockchains.