Business Article
Ren Keep is up over 34% on the present time, making it the greatest gainer on Crypto.com. With a 24-hour procuring and selling volume of $299 million and a market cap of $652 million, REN has received the market’s attention. Let’s take a look at at Ren and inspect why the price is rising.
What Is Ren?
Ren aspects the RenVM, an commence protocol providing rep admission to to inter-blockchain liquidity for all dApps. In other phrases, Ren allows developers to raise BTC, BCH, ZEC, and extra to their Ethereum apps.
Surely one of Ren’s aspects is the RenBridge, making it straightforward to switch property between blockchains. Currently, RenBridge helps eight property and destinations.
Ren’s major feature is its digital machine, RenVM. It’s powered by a community of machines called Darknodes, which manufacture rewards for contributing computing energy and cupboard space. By its digital machine, RenVM solves the interoperability ache in DeFi, enabling the permissionless exchange of value between blockchains.
Why Is Ren Keep Rising?
As of late’s mountainous recordsdata for Ren is the open of VarenX, a recent horrifying-chain swapping dApp powered by RenVM.
Introducing VarenX: a recent horrifying-chain swapping dApp powered by RenVM
Swap now on https://t.co/XeGiWSq6IS$VRN $REN @renprotocol pic.twitter.com/tcWkrfUhhX
— Varen (@varenfinance) December 21, 2021
Customers can join to VarenX by strategy of MetaMask and swap their money to varied chains. The UI is the same to other DEXs adore PancakeSwap and Uniswap, making it extraordinarily straightforward to use.
According to the open, we’ve seen REN’s ticket elevate by over 33% on the present time, peaking at $0.732.
At the time of writing, REN is procuring and selling at $0.65, with a 24-hour procuring and selling volume of $304 million. Its market cap is $653 million ranking it because the 119th greatest cryptocurrency.
You may well per chance additionally take hang of REN on Binance, Coinbase Alternate, FTX, Bithumb, Kraken, Gemini, KuCoin, Uniswap, Bittrex, Poloniex, and extra.
Disclosure: Right here’s no longer procuring and selling or funding advice. Repeatedly have your analysis earlier than procuring any cryptocurrency.
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