Transferring currencies from one digital wallet to another isn’t that hard. However, it’s much harder to transfer different currencies from one blockchain infrastructure to another. Cryptocurrencies built of one blockchain ecosystem, like Ethereum, aren’t able to interact with non-Ethereum tokens (Bitcoin, Litecoin, etc.) on the same blockchain.
As a result of these lapses, there is a need for a new peer-to-peer private exchange that provides a solution in the cryptocurrency space by allowing traders to buy or sell any cryptocurrency on any blockchain. The new peer-to-peer exchange will let investors trade any token without needing any middlemen while enjoying an unmatched privacy level.
What Is Ren Crypto?
Ren is an open-source protocol designed to ensure the confidential transfer of values between different public blockchains. Basically, Ren provides financial liquidity to various blockchain platforms. Ren is an ecosystem for building, deploying, and running general-purpose, privacy-preserving applications and moving averages using a secure multiparty computation protocol.
It makes it possible for any application to run in a decentralized protocol, trustless, and fault-tolerant environment similar to blockchains but with the distinguishing feature that all application inputs, outputs, and states remain a secret to the participants running the network.
The Ren Company’s main product is RenVM which enables decentralized financial interoperability. The project’s main goal is to expand existing dApps and create entirely new business cases with support levels within the decentralized world.
Ren (REN) is the internal token of the Ren ecosystem. Ren coin (REN) is the internal token of the Ren ecosystem.
What Ren offers
The Ren team founded Ren blockchain technology in 2017 as the Republic Project before rebranding as Ren in 2019.
Its founders, Tiayang Zhang and Loong Wang, were software engineers in the financial markets that wanted to make crypto exchange built on different blockchain networks more liquid and easily traded without going through a centralized exchange.
What makes Ren different?
Instead of buying BTC and ETH separately, Ren protocol lets you store your Bitcoin in a type of smart contract, in which you will then receive an equivalent quantity of BTC or crypto asset to use how you want. The contract is a type of CFD (Contract For Difference) that pay different investor price based on their investment.
For example, you could buy Ethereum price-based altcoins or lend your ERC20 token out for interest. Meanwhile, your bitcoin remains stored as a type of collateral through the Ren smart contract.
If you want to unlock your funds such a Bitcoin, you have to pay a fee in REN tokens, which is how the Ren network is maintained. Just like how Ether is the coin that fuels the ETH platform, Ren tokens are the coin that makes the Ren platform work.
At the same time, Ren champions itself as a privacy-oriented platform. It lets users collateralize their existing crypto to access other blockchain tokens without leaving a trace on a decentralized finance ledger.
According to the Ren whitepaper, users can store and transfer tokens without revealing the transaction amounts or their wallet balances. Currently, Ren can transfer Bitcoin, Bitcoin Cash, ZCash, BTC, and Dogecoin onto the Ethereum blockchain.
Ren Market Dynamics
This comprehensive Ren price prediction and technical analysis provide a better insight into the current situation, future expectations concerning the price of Ren. It will help readers understand what’s going on in the crypto market right now, adjust the trading strategy accordingly, make calculated investment and trading decisions in the future. This could be informed if the trader can identify important resistance using the relative strength index, forecast the price direction using buying or selling pressure in the current crypto market.
Ren is a non-mineable token presently priced at 0.351400 USD and has a market capitalization of $350 614 407, which puts it at 81st position in the global cryptocurrency rating. The currently available supply of Ren is 997 763 051 tokens.
It is important to grasp the projected changes in supply of the native token to properly calculate future market cap, hence the future price or forecast of the cryptocurrency under review, thereby enabling you to get a reasonable REN price prediction. Most traders come to the cryptocurrency ecosystem and more particularly, the REN community searching for digital assets that promise high and extremely high returns, which is achieved, among other things, through volatility inherent to this space.
And even though the capability of most cryptocurrencies to showcase tremendous gains has been hampered by recent crises, they remain the point of attraction for those who see this platform as a good current investment alternative to stocks, Forex, and other traditional markets.
The data allows us to assess the overall strength of the trend, which, in turn, provides means for a more precise REN price forecast and predicts the shifts in supply and demand that play a decisive role in price changes in both the immediate and distant future.
To better understand recent REN market fluctuations and the REN cryptocurrency, we introduce the Ren price projection to clearly depict the present price dynamics and offer some hints at the possible scenarios of future price action.
Volatility and Price Action
Volatility represents an essential aspect of crypto trading. Crypto Rating always proceeds from a range of factors when analyzing the price of Ren and offering short, medium, and long-term price projection using our proprietary algorithm that successfully incorporates artificial intelligence and, specifically, data.
According to the various technical analysis from Ren, trading volume for the past 24 hours is 26 584 183 USD that constitutes an increase from the previous day.
The current tendencies about changes in the average trading volume reveal the increasing demand for REN tokens on the backdrop of the decreasing supply of the corresponding cryptocurrency.
At Cryptopolitan, we do our best to provide accurate price predictions that support a wide range of digital coins like REN. Our analysis concludes a plausible maximum supply data, maximum price, average price and a minimum price. Infact, our use of some of the most commonly used indicators ensures we get approximately correct forecasts and enable traders get reward earnings.
We update our predictions daily, working with historical data, opening price, closing price and using a combination of linear and polynomial regressions.
However, no one can predict the prices of the cryptocurrency market with total certainty; thus, it is crucial to understand that the following price predictions serve merely as a suggestion of possible price development and are not intended to be used as investment advice.
REN price forecast by Cryptopolitan
Ren Price Prediction 2022 – 2030 (Minimum price, maximum price level& Average price )Source : Cryptopolitan
At our Cryptopolitan Price Prediction department, the team found out that the price of REN coin was slated to rise within the next 5 years and would trade in sync with the overall cryptocurrency market. The prediction projected an average trading price of less than $1 throughout 2022; and yet another gradual rise towards $4 by the year 2030.
The analysis predicts that the maximum price of REN crypto could reach 0.6395827 USD (+88.61%) per coin during August 2022 and is projected to be at the level of 0.6537557 USD (+92.79%) per coin by the end of December 2023
This forecast is bullish. Answering the question about if REN is a good investment, TradingBeasts say a resounding yes.In the 2022 REN price predictions perspective, the price of Ren is predicted to reach 0.5078421 USD with a reduction to 0.4919464 USD by the end of 2022.
REN Price Predictions 2022
Analysts predicts that the maximum price of REN crypto could reach 0.6395827 USD (+88.61%) per coin during August 2021 and is projected to be at the level of 0.6537557 USD (+92.79%) per coin by the end of December 2021.
This forecast is bullish. Answering the question about if REN coins are a good investment, we can conclude this as a resounding yes. In the current price predictions perspective, the price of Ren is predicted to reach 0.5078421 USD with a reduction to 0.4919464 USD by the end of 2022.
REN Price Prediction 2025 – 2030
Furthermore, the analysts went on to make another REN price prediction for the next 5 years, starting from 0.367355 USD as of today’s price to 1.3741941 USD. REN is an advantageous investment, and its price may reach the mark of 0.46389988 USD (+36.81%) per coin by the end of 2022.
It will go up to $0.6193778 by 2022 and continue its growth in 2023-2024. Based on this forecast, REN is a profitable long-term investment.
As it can be clear from the analysis cited above, Ren’s projections are rather contradictory but bullish. There is no universal consensus either about positive or negative future REN price movements.
Indeed, the possible future growth depends on various factors: announcements, new technological solutions of the Ren projects, the crypto environment in general, legal position, etc. We kindly remind you that it is essential to do your own research before investing in any cryptocurrency.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decis