RENBTC

renBTC price
RENBTC
#75

$61,675.98  

0.65% (1d)

renBTC to USD Chart

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RenBTC statistics
Market cap
$20.35M

0.65%

Volume (24h)
$36.17

0.59%

FDV
$844.84M
Vol/Mkt Cap (24h)
0.000178%
Total supply
329.92 RENBTC
Max. supply
13.70K RENBTC
Circulating supply
329.92 RENBTC
2.4085328855307346%
RENBTC to USD converter
RENBTC
USD
Price performance
24h 
Low
$61,202.09
High
$62,378.75
All-time high
Nov 16, 2021 (3 years ago)
$99,439.37
-37.98%
All-time low
Aug 05, 2023 (a year ago)
$1,846.87
+3239.48%
See historical data


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About renBTC

What Is RenBTC (RENBTC)?

RenBTC is an ERC-20 token built on the Ethereum network, pegged to Bitcoin. This means that each RENBTC can be always redeemed for one Bitcoin, and hence tends to maintain its value at close to the Bitcoin market rate.

RenBTC is minted on the Ren platform, which is an open protocol that provides everyone with access to the inter-blockchain liquidity, helping to bring assets from other blockchains to Ethereum decentralized applications (DApps). The main cryptocurrencies supported are Bitcoin (BTC), Bitcoin Cash (BCH) and Zcash (ZEC).

The renBTC token is a direct competitor of Wrapped Bitcoin (wBTC). Minting the token is a fairly straightforward process, which sees users simply send their BTC to RenVM, which then secures the asset and mints an equivalent number of renBTC tokens on Ethereum.

Unlike other Bitcoin-backed tokens, renBTC is not a synthetic token, and doesn’t rely on any liquidation mechanisms to ensure it remains pegged to the value of BTC — instead, it’s a direct supply peg, meaning there are always enough BTC in reserve to cover the circulating renBTC supply.

Redeeming renBTC is just as simple as minting it. The user only needs to send their renBTC back to RenVM (paying a small gas fee to do so) which releases the native Bitcoin to the user’s address. The renBTC tokens are destroyed, reducing the supply to match the reduced reserves.

Who Are the Founders of RenBTC (RENBTC)?

How Many RenBTC (RENBTC) Coins Are There in Circulation?

Where Can You Buy RenBTC (RENBTC)?

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