{"id":216031,"date":"2021-04-01T01:00:00","date_gmt":"2021-03-31T22:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ren-price-rallies-40-after-adding-luna-sol-and-ftm-to-its-ecosystem\/"},"modified":"2021-04-01T01:00:00","modified_gmt":"2021-03-31T22:00:00","slug":"ren-price-rallies-40-after-adding-luna-sol-and-ftm-to-its-ecosystem","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ren-price-rallies-40-after-adding-luna-sol-and-ftm-to-its-ecosystem\/","title":{"rendered":"# Ren price rallies 40% after adding LUNA, SOL and FTM to its ecosystem"},"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-6a3ab590d8129\" 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-6a3ab590d8129\" 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-40-after-adding-luna-sol-and-ftm-to-its-ecosystem\/#REN_price_soars_as_its_ecosystem_expands\" >REN price soars as its ecosystem expands<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ren-price-rallies-40-after-adding-luna-sol-and-ftm-to-its-ecosystem\/#Signs_of_rising_fundamentals\" >Signs of rising fundamentals\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ren price rallies 40% after adding LUNA, SOL and FTM to its ecosystem <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The cryptocurrency sector has emerged as a hot topic on the global stage in 2021 thanks in large part to the growth of decentralized finance and non-fungible tokens which have caught the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public\u2019s attention.\u00a0<\/p>\n<p>Throughout the sector there is a need for interoperability between networks as many of the most popular projects are on siloed blockchain networks and high Ethereum fees prevent developers and investors from interacting across chains. <\/p>\n<p>One project focused on solving this project is Ren, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1377287663917662216\">revealed<\/a> on March 31 that Solana and Fantom had become the latest tokens supported by the interoperability-focused protocol.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">March Development Update<\/p>\n<p>1\u20e3 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FantomFDN?ref_src=twsrc%5Etfw\">@FantomFDN<\/a> on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/RenVM?src=hash&amp;ref_src=twsrc%5Etfw\">#RenVM<\/a> Testnet <br \/>2\u20e3 Ren Bridge 2 Open-Sourced and Forkable <br \/>3\u20e3 Native Fee Tracking <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Z02gXAL4Yd\">https:\/\/t.co\/Z02gXAL4Yd<\/a><\/p>\n<p>\u2014 Ren (@renprotocol) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1377287663917662216?ref_src=twsrc%5Etfw\">March 31, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>These additions mark the third new token supported by the protocol over the past week, which has coincided with a\u00a040% rally in the price of REN as community members from the newly supported tokens discover a newfound interest in the Ren ecosystem. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/2cde07ca-8c20-4c99-aeae-bea057a609e6.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\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>As more NFT and DeFi projects continue to emerge on separate blockchain networks, the need for projects like Ren is likely to increase as the cryptocurrency ecosystem as a whole looks for ways to increase its interconnectedness.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"REN_price_soars_as_its_ecosystem_expands\"><\/span>REN price soars as its ecosystem expands<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>2021 got off to a hot start for Ren thanks to the explosion in growth of decentralized finance and the protocol\u2019s ability to bring tokens from other blockchains onto the Ethereum (ETH) network where a majority of the active decentralized <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications exist. <\/p>\n<p>Momentum for Ren really started to build on Jan. 26 after it was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1354107079167004674\">announced<\/a> that Dogecoin (DOGE) could be transacted on the Ethereum network through the renDOGE bridge. <\/p>\n<p>The announcement of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1356545097681281025\">partnership<\/a> with Alameda research on Feb. 2 followed by the protocol\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1362451722506039298\">integration<\/a> with the Binance Smart Chain on Feb. 18 helped push Ren to an all-time high of $1.84 on Feb. 19 before the overall market correction that began on Feb. 20 dropped the price back below $1. <\/p>\n<p>Following the downturn, Ren has continued to expand its ecosystem through integrations with DeFi protocols like 1inch (1INCH), PancakeSwap (CAKE) and BadgerDAO (BADGER), as well as through the addition of new cross-chain assets including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1371488635850268674\">Digibyte<\/a> (DGB), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1376611854525554693\">Terra<\/a> (LUNA), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/renprotocol\/status\/1377287663917662216\">Solana<\/a> (SOL) and Fantom (FTM).<\/p>\n<p>A collaboration that was formed with Polkadot (DOT) back in June 2020 has also been paying off for Ren of late as DeFi projects like the Acala network prepare to launch on the Polkadot network once the upcoming parachain auctions are complete. <\/p>\n<p>According to the most recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/renproject\/ren-ecosystem-update-7e9561ce265f\">ecosystem update<\/a>, the RenVM surpassed $3 billion in total volume at the end of February and has paid out over $5,500,000 to node holders since its inception. The team has also released an update for Ren Bridge 2, which is now fully open-source and can be accessed on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/github.com\/renproject\/bridge-v2\">GitHub<\/a>. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Signs_of_rising_fundamentals\"><\/span>Signs of rising fundamentals\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alongside the recent integration with multiple DeFi platforms and the addition of Solana, Fantom and Luna to the Ren ecosystem, the\u00a0VORTECS\u2122 Score, an algorithm comprised of current and historical market sentiment, trading volume, recent price action and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity, has risen as high as 78 over the past week as fundamentals for the project improve. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/757f421d-82b1-4f67-aa6b-c04b5c97ca66.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. REN price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score flipped green on March 26 and has remained in this zone for a majority of the time since then. Previous backtesting of the Markets Pro system has shown that higher VORTECS\u2122 scores hint that the current market conditions are similar to conditions in the past when the asset rallied over the next several days. <\/p>\n<p>With the momentum of nonfungible tokens starting to wane, traders could soon be looking to rotate into the next hot sector and there are signs that activity on DeFi platforms is again on the uptick. <\/p>\n<p>As blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> increases its presence in the mainstream financial markets, Ren is one altcoin investors are clearly watching due to the fact that interoperability will remain a major focus in helping to unify what is currently a disjointed cryptocurrency ecosystem. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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-40-after-adding-luna-sol-and-ftm-to-its-ecosystem\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ren price rallies 40% after adding LUNA, SOL and FTM to its ecosystem &#8221; The cryptocurrency sector has emerged as a hot topic on the global stage in 2021 thanks in large part to the growth of decentralized finance and non-fungible tokens which have caught the general public\u2019s attention.\u00a0 Throughout the sector there is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":216032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMmI0OTI1NjctOWI1Mi00NDg5LTkxOTktNzliYTMyMGM1YzI1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,74863,74860,74868,74891,90505,92498,73785],"class_list":["post-216031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-ethereum","tag-ren","tag-solana","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/216031","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=216031"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/216031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/216032"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=216031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=216031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=216031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}