REN

RenREN

Rank #61
Token
On 60,066 watchlists

Ren Price (REN)

$0.5523
10.43%

0.00001759 BTC

0.0004323 ETH

Low:$0.5523
High:$0.6204
24h
REN  Ren RENPrice: $0.5523 10.43%
Market Cap
$488,780,862
10.43%
Fully Diluted Market Cap
$552,346,382
10.43%
Volume
24h
$109,617,588
2.40%
Circulating Supply
884,917,287 REN
88%
Max Supply
1,000,000,000

Ren Chart

 

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About Ren

Ren price today is $0.552346 USD with a 24-hour trading volume of $109,617,588 USD. Ren is down 10.43% in the last 24 hours. The current CoinMarketCap ranking is #61, with a market cap of $488,780,862 USD. It has a circulating supply of 884,917,287 REN coins and a max. supply of 1,000,000,000 REN coins.

The top exchanges for trading in Ren are currently Binance, Huobi Global, OKEx, HBTC, and Dsdaq. You can find others listed on our crypto exchanges page.

What Is Ren (REN)?

Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms.

Formerly known as Republic Protocol, Ren launched RenVM, its virtual machine mainnet, in May 2020, having completed a $34 million initial coin offering (ICO) in 2018.

The protocol’s native token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes.

Ren aims to expand the interoperability, and hence accessibility, of decentralized finance (DeFi) by removing hurdles involved in liquidity between blockchains.

Who Are the Founders of Ren?

Ren was founded by Taiyang Zhang, its CEO, in 2017. Initially called Republic Protocol, Ren was first announced in January 2018, with Zhang explaining its initial use case as a “decentralized dark pool.”

Zhang himself has existing experience in the cryptocurrency space, having also co-founded crypto hedge fund Virgil Capital.

Prior to that, Zhang co-founded Neucode, a software and web development startup, in 2014. Jaz Gulati, Neucode’s other co-founder, now works as a software developer for Ren.

What Makes Ren Unique?

Ren is a complex platform with multiple use cases, but it is ultimately designed to overcome barriers to entry and investment for DeFi projects.

As a plug-in, it allows DeFi projects to bring foreign cryptocurrency assets such as Bitcoin (BTC) and Zcash (ZEC) to their offerings. More broadly, users can in essence swap any token between any two blockchains without middle steps such as using so-called “wrapped” versions of tokens, for example Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).

RenVM is a network of virtual computers making up a virtual machine. The machines powering the network which makes up RenVM are called Darknodes.

Ren charges various fees for internal operations, but most do not go towards direct profitability, instead being paid to miners. As an ERC-20 token, REN also attracts varying gas fees to power transactions.

Find out more about Chainlink here.

Find out more about Cosmos here.

New to cryptocurrency? Find all the answers you’re looking for with Alexandria, CoinMarketCap’s dedicated education resource.

Check out Alexandria’s Deep Dive Into RenVN.

How Many Ren (REN) Coins Are There in Circulation?

REN has a fixed supply cap of 1 billion (1,000,000,000) tokens. Ren conducted a presale and public token sale in 2018, during which a total of 60.2% of the supply was sold to investors.

Ren has a reserve fund which was originally allocated 19.9% of the total supply, while another 9.9% was allocated internally to advisors, the team and its founders. Team tokens came with a two-year lock-up period, with a six-month lock-up for advisor allocations.

Another 10% of the REN supply is specifically intended for activities such as partnerships and development.

REN is an ERC-20 standard token.

How Is the Ren Network Secured?

RenVM is a byzantine fault-tolerant protocol that facilitates ECDSA threshold key generation and signing via secure mutli-party computation (sMPC). This allows RenVM to securely manage (ECDSA) private keys on different blockchains, making it possible to shift tokens between these blockchains (i.e interoperability).

The network is currently in phase sub-zero in its pathway to decentralization, for more information on RenVM’s pathway to decentralization, please refer to Ren’s Wiki

Where Can You Buy Ren (REN)?

REN is a freely-tradable token and has a presence on various major exchanges. Of these, Binance and Huobi Global have the largest volume as of October 2020. Pairs include cryptocurrency, fiat and stablecoins.

Crypto newbie? Read our easy guide to buying Bitcoin and other cryptocurrencies.

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REN

Ren

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REN Price Statistics

Ren Price Today
Ren Price$0.5523
Price Change24h$-0.05758

10.43%

24h Low / 24h High
$0.5528 /
$0.6204
Trading Volume24h$109,617,588.27

2.4%

Market Dominance0.05%
Market Rank#61
Ren Market Cap
Market Cap$488,780,862.36

10.43%

Fully Diluted Market Cap$552,346,382.31

10.43%

Ren Price Yesterday
Yesterday's Low / High
$0.5696 /
$0.6366
Yesterday's Open / Close
$0.6295 /
$0.5736
Yesterday's Change

8.87%

Yesterday's Volume$107,868,689.78
Ren Price History
7d Low / 7d High
$0.5265 /
$0.7780
30d Low / 30d High
$0.2788 /
$0.7780
90d Low / 90d High
$0.2316 /
$0.7780
52 Week Low / 52 Week High
$0.02781 /
$0.7780
All Time High
Jan 20, 2021 (6 days ago)
$0.7780

29%

All Time Low
Nov 27, 2018 (2 years ago)
$0.01539

3487.96%

Ren ROI

592.7%

Ren Supply
Circulating Supply884,917,287 REN
Total Supply999,999,633 REN
Max Supply1,000,000,000 REN

Ren Markets

No Data