Ren Price

Ren (REN) Live Price Chart

Ren Price Live Data

The current price of Ren is $0.06531, with a 24-hour trading volume of $ 123,980. Ren has experienced a +3.45% change in the past 24 hours, and its USD value has increased by +9.96% over the past 7 days. The circulating supply of Ren is 1.00B REN and its current market cap stands at 65.36M USD, up --% in the past 24 hours. Ren ranks #261 in market capitalization.

Ren(REN) Info

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About REN

What Is Ren (REN) Crypto?

RenvM is a decentralized crypto asset custodian that can transfer crypto assets from one blockchain to another in a secure, scalable, and convenient manner. Ren aims to be a universal interoperability protocol where dApps running on any blockchain can work with native assets of other blockchain ecosystems.

Unlike wrapped tokens such as WBTC and WETH, Ren is a decentralized custodian for higher security when transferring tokens. The RZL MPC algorithm ensures that ECDSA private keys are generated and managed without exposing them, even to the RenVM machines and Darknodes that comprise the Ren network.

Users can mint or burn pegged assets in any quantity without compromising the overall user experience. Smart contracts can be directly called, and such processes can be completed within a single transaction, further improving the system’s efficiency.

REN is the native token of the Ren network and is used as a bond to run a Darknode. Any user wishing to operate a Darknode must deposit 100,000 REN tokens as a bond to demonstrate good behavior within Ren’s decentralized network.

How Does RenVM Work?

Ren’s decentralized network comprises thousands of independent Darknodes, each of which must bond 100,000 REN tokens to commit to good behavior. Darknodes are shuffled into non-overlapping groups called shards periodically.

Each shard uses Ren’s RZL MPC algorithm to generate a secret ESCDA private key, and this information is unknown to the Darknodes that are members of the shard themselves. Each shard contains at least 100 Darknodes and uses the secret ECDSA private key to sign transactions and transfer assets from one blockchain to another.

Darknodes receive fees from Ren’s users who perform token transfers using its infrastructure. The fees are paid in the token being transferred instead of Ren using its native token, $REN, as an incentive.

The fees paid by users are adjusted using algorithms based on the demand for such services on the Ren network. The algorithm ensures that the total value of REN bonded by all Darknodes always remains higher than the total value of assets locked in RenVM.

History of Ren Protocol

Ren was initially known as Republic Protocol and was founded by Taiyang Zhang and Jaz Gulati in 2017. Its first product RenEX - a decentralized dark pool, went live in January 2018.

Following an ICO in 2018 that raised $34 million in funding, the project’s developers launched RenVM virtual machine mainnet in May 2020. Since then, the team has been working on generalizing its technology using zkSNARK for higher security.

Within a year of its launch, RenVM supported over ten blockchains, including Bitcoin, Bitcoin Cash, DigiByte, Dogecoin, Filecoin, and Zcash. RenVM also enjoyed native integrations with several leading DeFi protocols through the period, such as Curve Finance, wBTC Cafe, MyEtherWallet, DeFi Bridge, OpenDAO, Varen Finance, and Badger Bridge.

In 2021, RenVM expanded to more blockchain ecosystems, including Fantom, Avalanche, Polygon, Solana, Arbitrum, and more. In June 2022, the developers introduced Redbridge 3.0 to let users bridge BTC, stablecoins, and generic tokens and support bridging renASSETS between different supported blockchains. Notable integrations through 2022 include support for Optimism, Kava, and Moonbeam.


How can I buy Ren (REN)?

Buying REN on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Ren (REN) for more information.

How much is 1 Ren (REN) worth?

KuCoin provides real-time USD price updates for Ren (REN). Ren price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time REN to USD exchange rates.

Is Ren Cryptocurrency a Good Investment?

REN token is a good crypto asset in your portfolio, especially if you wish to invest in projects in DeFi and blockchain interoperability areas. The rising demand for DeFi services across blockchains could spur the need for services like RenVM, making its native token a valuable investment.

The REN token price could strengthen as RenVM expands to support more blockchain networks and crypto assets. Additionally, integrations with more DeFi protocols and bridges can increase Ren crypto’s value among investors, boosting the REN price statistics.

As the developers innovate and implement more features that make RenVM easier and more attractive to use, the price of REN crypto could climb higher in the market. This would directly result from increased on-chain activity as more DeFi traders use Ren’s services for cross-chain asset transfers.

What Is the REN Crypto Price Prediction?

Although we cannot offer an accurate REN token price prediction over time, we could recommend critical factors driving the most price action and volatility in $REN. These include:

Level of Adoption

Higher use of the Ren network to transfer crypto assets across blockchains could increase the value of REN crypto. This could also happen when Ren announces future integrations with more blockchain networks and projects.

Future Developments

As Ren’s developers upgrade the protocol to make it more user-friendly, cost-effective, and secure, it could pull users away from competitors and increase the activity level on its network. This could increase the demand for $REN among Darknodes and investors, increasing the appeal of holding REN tokens.

Market Outlook

A favorable outlook towards the crypto market and DeFi could also play an essential role in driving bullish moves in REN price. The price of REN crypto could increase amid a risk-on mood among global investors. However, bearish sentiment in the crypto market could cause sell-offs that weaken the REN network price.

How to Use REN Token

REN, an ERC-20 token issued on Ethereum, is the native token of the Ren network and has the following use cases:

Work Token

REN is required as a bond to operate a Darknode and participate in the operations of the RenVM network. Every user wishing to run their Darknode must acquire and bond 100,000 REN tokens into an Ethereum smart contract before registering on the network.

Crypto Asset to Trade and HODL

Trade Ren against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell REN against other crypto assets or hold it long-term if you believe in the future potential of the Ren project. Review the current price of Ren crypto, REN current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the REN price chart before trading Ren cryptocurrency in the market.

Earn Passive Income on KuCoin

You can also grow your crypto portfolio by holding REN using the KuCoin Crypto Lending service. Head here to lend liquidity in REN to our platform and earn daily interest over seven days, 14 days, or 28 days.

What Is RenBridge?

RenBridge is an Ethereum-based dApp that lets users mint BTC, ZEC, and BCH as ERC-20 tokens on the network. The tokens can be minted as renBTC, renZEC, and renBCH. The RenBridge dApp can also allow users to convert these ERC-20 tokens into native BTC, ZEC, and BCH using the Ren network conveniently.

RenBridge charges fees for the minting and burning of tokens and network fees paid to miners of the respective blockchain. The network fees are dynamic and change based on the network congestion level. In addition, the dApp also charges ETH gas fees for operating on the Ethereum network.

How to Earn as a Darknode on Ren

You can run a Darknode on Ren’s decentralized network and contribute to the protocol’s operations of enabling cross-chain asset transfers. You can also earn rewards paid in the respective crypto you help transfer directly from the network’s users.

To become a Darknode, you must bond 100,000 REN tokens and lock them in an Ethereum smart contract. This amount is collateral to attest to your good behavior on the network.

Ren charges fees whenever users mint or release a digital asset from a Guest Chain or a Host Chain. The rewards generated are then equally distributed among active Darknodes during a specific period (Epoch).

How Many Ren Coins Are There?

Out of the max supply set at 1,000,000,000 REN tokens, the circulating supply of REN as of March 2023 is just above 999,000,000 tokens.

What is the all-time high price of Ren (REN)?

The all-time high price of Ren (REN) is $1.82. The current price of REN is down 0.96% from its all-time high.

What is the all-time low price of Ren (REN)?

The all-time low price of Ren (REN) is $0.01547. The current price of REN is up 3.22% from its all-time low.

How much Ren (REN) is there in circulation?

As of 12 8, 2023, there is currently 1.00B REN in circulation. REN has a maximum supply of 1.00B.

What is the market cap of Ren (REN)?

The current market cap of REN is $65.36M. It is calculated by multiplying the current supply of REN by its real-time market price of $65.36M.

How do I store Ren (REN)?

You can securely store your Ren in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your REN include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.