Investing.com – Just as a faint glimmer of a halt to the recent crash in the cryptocurrency market begins to emerge, one of the most promising digital currencies has set off to frenzied highs during these moments.
While some cryptocurrencies gained modestly with faint signs of Bitcoin’s trend to cut losses, the RKN Rakon is now up around 900%.
With the spread of the phenomenon of meme coins and dog coins such as the Shiba Inu and Doge Coin, which found support from business and financial magnates such as Elon Musk.
Some submerged currencies are starting to reappear, and investing in them involves high risks, and you may even lose all your money, so you should be careful, as all the data in the report is just a monitoring of price fluctuations according to the trading platforms.
Raccoon coin made a tumultuous 24-hour rally from Monday’s low of 0.04347 to Tuesday’s highs of $0.44, up 900%.
Raccoon price fluctuates between $0.22 and $0.44, and CoinMarketCap ranks 304, with a direct market capitalization of $105,712,750.
The total supply of raccoon coins is 242,857,143 RKN coins while the maximum available coin supply is 285,714,286 RKN.
The best exchanges to trade in Rakon are ProBit Global and Crex24.
What is a raccoon?
Rakon is a blockchain-based network designed to connect infrastructure, satellites, navigation and communication systems in an unreliable ecosystem that does not depend on intermediaries.
The RKN was first made available for purchase through an initial coin offering that began in April 2019, during which ETH can be exchanged for RKN – with a minimum transaction amount of 1 ETH.
According to the company’s white paper, RKN is a token that Rakon relies on the blockchain network to verify and process its transactions.
While RKN’s transactions themselves are secured through the decentralized Ethereum blockchain, therefore, protecting users’ funds is also the responsibility of Orbit Network founder Rakon.
Who are the founders?
Created by Orbit Network Inc, through its subsidiary Blockchain Development Inc, the project was first designed in the third quarter of 2018, and officially launched in the fourth quarter of 2020.
Orbit Network develops products that use blockchain technology and smart contracts, with the goal of increasing usability and driving global enterprise blockchain adoption.
The company is behind other crypto projects, including Sports and Leisure (SNL), a token linked to Ether (ETH) designed to connect the traditional and digital sports and entertainment industries.
The company is all behind the New York Exchange (NYE), which seeks to bridge the traditional gap between trading stocks and commodities through cryptocurrency trading.
Orbit Network also operates Orbitex, a platform for trading traditional assets and cryptocurrencies.
deliberation is a virtue
It is mentioned that some of these currencies involve blatant fraud and a major deception that may destroy the fortunes of those looking for a foothold in the land of dreams, where catching up with a currency since its inception may be the new.
It is noteworthy that the cryptocurrency market, specifically those new currencies, is also launching at full speed and declining at full speed as well, as it is a highly volatile and high-risk market.
Therefore, you must be extremely careful when dealing with digital currencies that can make you rich overnight, and may take your money in moments…
The article does not express a recommendation or nomination, but rather a mere monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.