{"id":183693,"date":"2021-02-20T04:49:42","date_gmt":"2021-02-20T01:49:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration\/"},"modified":"2021-02-20T04:49:42","modified_gmt":"2021-02-20T01:49:42","slug":"ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration\/","title":{"rendered":"# REN price rallies 60%, hitting a new high after recent DeFi integration"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ca8e7d6ece\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ca8e7d6ece\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration\/#Binance_Smart_Chain_integration_strengthens_RENs_use_case\" >Binance Smart Chain integration strengthens REN&#8217;s use case<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># REN price rallies 60%, hitting a new high after recent DeFi integration <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Ren (REN) price underwent a strong 65% breakout on Feb.19 as the interoperability-focused protocol saw continuing accumulation from whale wallets holding more than 1 million REN. <\/p>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\">TradingView<\/a> shows that REN rose from $0.99 on Feb. 18 to establish a new all-time high of $1.84 on Feb. 19. The move to a new high occurred as REN&#8217;s trading volume also reached $704 million over the past 24-hours. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/1e323db8-0ee8-4b46-9c5f-b33b04a556cd.png\"><figcaption style=\"text-align: center;\"><em>REN\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Attention for the protocol received a noticeable uptick at the end of January when it was announced that Dogecoin (DOGE) would be integrated with REN, enabling the trading of renDOGE in the growing DeFi ecosystem. <\/p>\n<p>Since that time the REN ecosystem has continued to expand as more top-tier projects like Filecoin (FIL) have undergone the transformation to become renFIL, which is now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/corbpage\/status\/1362395359625048067\">being considered<\/a> for addition to the AAVE ecosystem. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Binance_Smart_Chain_integration_strengthens_RENs_use_case\"><\/span>Binance Smart Chain integration strengthens REN&#8217;s use case<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>REN was trading at $0.94 on Feb. 15 before it was announced that RenBridge 2 was live and integrated with the Binance Smart Chain. Since that time, the trading volume has steadily increased as well as the total value locked on the RenVM. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/0ef80be0-ad7f-4655-a816-12e7e9e7ffe1.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on REN. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/protocol\/ren-protocol\"><em>Defi Llama<\/em><\/a><\/figcaption><\/figure>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for REN on Feb. 18, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/c8b64ea1-60cf-46fc-aba5-db1874019873.png\"><figcaption style=\"text-align: center;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ct.thetie.io\/\"><em>Cointelegraph Markets Pro<\/em><\/a><em> &#8211; VORTECS\u2122 Score (green) vs. REN price<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 score began to increase following the announcement of RenBridge 2 on Feb. 15 and reached a peak of 81 on Feb. 18, shortly before the price of REN began to spike upwards. <\/p>\n<p>The recent integration with BSC has brought renewed attention to REN which was hampered by high transaction costs on the Ethereum network. <\/p>\n<p>With decentralized finance heating up, interoperability between blockchain networks is becoming essential for a well-functioning market and REN is emerging as a key piece in cross-chain interaction. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ren-price-rallies-60-hitting-a-new-high-after-recent-defi-integration\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# REN price rallies 60%, hitting a new high after recent DeFi integration &#8221; Ren (REN) price underwent a strong 65% breakout on Feb.19 as the interoperability-focused protocol saw continuing accumulation from whale wallets holding more than 1 million REN. Data from Cointelegraph Markets and TradingView shows that REN rose from $0.99 on Feb. 18&#8230;<\/p>\n","protected":false},"author":1,"featured_media":183694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvYTFhN2ZiY2MtYmMyNy00YzRlLTllMDktNzZiM2MzNTVmNWZmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,75014,74894,74863,74860,74868,75916,74891,90505,73785],"class_list":["post-183693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-binance","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-dex","tag-ethereum","tag-ren","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/183693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=183693"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/183693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/183694"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=183693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=183693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=183693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}