Ruby Coin (RBC) is an ERC-20 cryptocurrency and exists on the Ethereum Blockchain.

Ruby Coin Live Price Today

Ruby Coin Price Analysis

Ruby Coin has suffered a major collapse in price and it seems the crypto is being dumped by large wallets. Users are requested to avoid it at any cost because this asset is expected to remain volatile in the near time.

Seeing its charts over the last 1 year, we can say with high accuracy that the crypto is being manipulated. Normal traders are requested to avoid trading this crypto.

The cryptocurrency saw a huge pump in March-May 2023 and reached a high of $11 on September 2023. However, after peaking, the crypto came under heavy selling pressure which means some entity was about to dump it in the market and had planned this long before.

About ERC-20 Coins

ERC-20 cryptocurrencies are a type of digital asset based on the Ethereum blockchain. ERC-20 stands for Ethereum Request for Comment 20, which is a technical standard used for issuing tokens on the Ethereum network. This standard defines a common list of rules that an Ethereum token has to implement, ensuring that this type of token will behave predictably in the Ethereum ecosystem. This predictability allows for the token’s seamless interaction with various services, wallets, and smart contracts that also adhere to the standard.

Key Features of ERC-20 Tokens

  1. Interoperability: The standardization ensures that ERC-20 tokens can easily interact with other smart contracts and decentralized applications (dApps) on the Ethereum blockchain.
  2. Uniformity: It provides a standardized set of instructions for all tokens within the ecosystem, including how tokens are transferred and how users can access data about a token.
  3. Efficiency: ERC-20 tokens can be created more easily compared to creating a completely new coin with its blockchain, which saves developers time and resources.
  4. Smart Contracts: Tokens based on the ERC-20 standard are implemented as smart contracts and executed on the Ethereum Virtual Machine (EVM), leveraging the security and functionality of the Ethereum network.