- Ren: A Quick Overview
- Ren: Pioneering Mastermind For DeFi
- Ren Price Prediction: Price History And Technical Analysis
- Ren Price Prediction: Experts’ Opinions
- Is Ren A Good Investment? When To Buy?
- Final Thoughts
We researched Ren with in-depth technical analysis, and here is what we found in our Ren price prediction to guide you with investment plans.
The crypto space is ever evolving, adding new revolutionising innovations to the industry to lure more investors. Ren is one of them, as its protocol allows traders a peer-to-peer private exchange that enables buying and selling any cryptocurrency on any blockchain network. Our Ren price prediction will guide you with appropriate investment opportunities for Ren along with its future developments, future prices and on-chain analysis.
Ren: A Quick Overview
It is easy if you want to transfer one cryptocurrency from a wallet to another wallet on the same network; however, there is much difficulty while transferring different cryptocurrencies to different networks. For example, cryptocurrencies on the Ethereum blockchain were unable to interact with cryptocurrencies built on another network (Bitcoin, Litecoin) on the same blockchain. Here comes the Ren protocol, as it makes it easy to transfer different cryptos to different blockchain networks.
Ren protocol was founded and developed by Taiyang Zhang and Loong Wang in 2017, and the REN coin first went live on the market in 2018. Ren has stopped users from converting tokens into wrapped versions and allows decentralised finance projects to include different assets in their offerings. Users can now transfer different assets to various networks without converting them to wrapped versions such as Wrapped Ethereum (wETH) for Ethereum. Let’s find out Ren’s current market details to better clarify our Ren price prediction.
| Cryptocurrency | Ren |
| Ticker Symbol | REN |
| Price | $0.1168 |
| Price Change 24h | +2.42% |
| Market cap | $116,499,000 |
| Circulating Supply | 999,037,500.36 REN |
| Trading Volume | $11,589,218 |
| All time high | $1.83 |
| All time low | $0.01548 |
| REN ROI | +46.33% |
Ren: Pioneering Mastermind For DeFi
Ren is an open-source protocol that ensures end-to-end encrypted transactions between different assets on different networks. Ren (REN) is the native and governing token of the Ren protocol. Ren serves its services and applications based on zero-knowledge proof (zk-SNARK).
The whitepaper of Ren states, “building, deploying, and running general purpose privacy-preserving applications using zkSNARK and newly developed secure multi-party computation protocol. It makes it possible for any kind of application to run in a decentralised, trustless and fault-tolerant environment, similar to blockchains but with the distinguishing feature that all application inputs, outputs and state remain a secret even to the participants running the network.”
Let’s learn about the functional layers of the Ren protocol.
- Zero-Knowledge Layer: The zero-knowledge layer enables various transactions on the blockchain network. Ren utilises this layer to store and transfer crypto assets with complete confidentiality on the network.
- Interoperability Layer: The interoperability layer is a part of the zero-knowledge layer, allowing quick execution of trading tokens through different blockchains. In simple words, this layer acts as a way to transfer tokens across the network.
- Dark Pool Layer: The dark pool layer enables traders to conduct private transactions by placing open orders and does not require sharing order prices. Instead, the layer matches the order with another party and executes the trade.
The Ren protocol allows you to store Bitcoin and other assets through a dedicated smart contract, where you can receive your preferred crypto assets and spend them smoothly. This smart contract is referred to as CFD (Contract For Difference). The primary platform where Ren operates its services is called RENVM, i.e., Ren Virtual Machine. All transactions that take place on Ren get an advantage of RENVM. RENVM’s primary goal is to expand existing dApps and provide a stable business structure.
Ren has partnered with OpenDAO to bring on-chain liquidity to the platform. Ren alliance includes impactful partners including Zilliqa, Power Ledger etc. According to our Ren price prediction, it seems that Ren is in no mood to stop here as the protocol is continuously looking forward to making new partnerships, which will significantly push Ren’s price to the North.
Ren Price Prediction: Price History And Technical Analysis
Ren has had a remarkable price history since its launch and has brought fruitful returns to investors. Before moving on to Ren price prediction, it is essential for you to know about Ren’s price history to get an idea about its potential and our Ren price prediction. However, it is to be noted that price history does not guarantee our Ren price prediction.
At the time of launch in 2018, Ren started its trading journey at $0.0798. Like other cryptocurrencies during its launch, Ren also gathered the market’s interest and attention, and its price jumped to $0.9145 within a single day. However, the buzz was limited for a short period as Ren quickly fell and traded below $0.04877 in March 2018.
The coin traded in the $0.5 range for the next few weeks before starting a bull run to a high of $0.1049 on 3 May 2018. However, after a profitable journey in 2018, Ren dropped to its all-time low of $0.01548 on 27 November 2018, wiping out the investment plans of many investors.
Ren spent most of the time trading below $0.04 in 2019. However, Ren’s price was encouraging in 2020 as it again surged. The last four months of 2020 had a bull run as Ren traded above $0.20 and ended the year at $0.3213. In 2021, Ren crossed the $1 mark and touched an all-time high of $1.83 on 20 February. However, Ren gradually fell and traded below $0.5 in August. In 2022, the market crash led cryptocurrencies to plummet, and Ren was no exception as it quickly dropped from $0.54 to $0.3.
According to CoinMarketCap, Ren is currently trading near $0.12 with a market cap of $116 million. According to our Ren price prediction, the Bollinger band’s upper limit is $0.2. If this resistance level breaks, then Ren can initiate a fresh bull run up to the next resistance level of $0.31. Conversely, the Bollinger band’s lower limit is $0.08, a crucial support for our Ren price prediction. If Ren drops below this support level, it can touch the bottom line and trade near $0.03. EMA-20 and EMA-50 indicate a further bearish movement with a minor retracement upward. RSI also trades below the 50 level, indicating a rapid drop soon.
By the end of 2022, Our Ren price prediction indicates a price range between $0.12 to $0.14. In 2023, Ren’s price is expected to jump and reach $0.18. By 2025, Ren is projected to acquire more partnerships and bring valuable innovations to the network, and it can lead Ren to $0.4. Our Ren price prediction shows that Ren can cross the most anticipated $2 mark as it can trade with a maximum price of $2.13.
Ren Price Prediction: Experts’ Opinions
According to Wallet Investor’s Ren price prediction, the coin might reach a maximum trading price of $0.479 and a minimum price of around $0.000001 by the end of 2022. According to Ren price prediction, Ren can drop in the future, and its value can be 0.
Trading Beast’s Ren price prediction states that the coin would touch a maximum price of $0.6030750 and the lowest price of $0.4100910 by the end of 2022. Ren’s future looks promising and can bring overwhelming ROI for investors.
Is Ren A Good Investment? When To Buy?
From our Ren price prediction, we can conclude that Ren is definitely an excellent investment option with the potential to boom in the future. Ren has been the talk of the town, and it will surely rise depending on its fundamentals and developments. Our Ren price prediction indicates $0.08 after the retracement as an excellent investment opportunity for a long-term return.
Final Thoughts
According to our Ren price prediction, the upcoming years will change the fortune of the Ren community with a promising result. The contribution of RENVM aims to bring more developments and contributions to the blockchain network, creating a smooth bull run in the future. Ren price prediction expects that Ren will surpass its all-time highs in the near future, skyrocketing to bring a wave in the crypto sphere. However, our Ren price prediction advises investors to conduct experts’ opinions and analysis before investing in crypto’s volatility.
