Coin overview
REN overview
About REN
Whitepaper
Coin-related
Price calculator
Price history
Price prediction
Technical analysis
Coin buying guide
Crypto category
Profit calculator
Trade-related
Buy/Sell
Deposit/Withdraw
Spot
Margin
USDT-M futures
Coin-M futures
Trading bots
Copy trading
Earn
Pre-market
Coin updates
Ren news
Ren flash
Events Calendar
ICO
Airdrop
Other products
BRC-20 prices
Crypto directory
Crypto encyclopedia
Crypto glossary
![Ren](https://img.bitgetimg.com/multiLang/coinPriceLogo/50a92b2f42eed8a06f52bdeb939f38811710262952795.png)
Ren priceREN
Ren price calculator
More cryptocurrencies calculator >Ren price live data summary
What is the highest price of REN?
What is the lowest price of REN?
Ren price prediction
When is a good time to buy REN? Should I buy or sell now?
What will the price of REN be in 2025?
What will the price of REN be in 2030?
Ren ratings
About Ren(REN)
What Is Ren?
Ren is a decentralized Automated Market Maker (AMM) operating on the Solana blockchain. It stands out in the DeFi space by directly integrating with Serum, Solana's largest decentralized exchange (DEX), to facilitate its swap system. Launched in February 2021, Ren quickly gained traction due to its unique approach to addressing common DeFi challenges, such as slow transaction speeds and high costs, particularly evident in Ethereum-based AMMs. By leveraging the Solana blockchain, Ren offers a solution characterized by speed and affordability, making it a significant player in the burgeoning DeFi landscape.
The platform's integration with the Solana ecosystem and Serum DEX enhances its liquidity, a crucial factor for any AMM. This integration allows Ren to access a broader range of liquidity sources, improving the trading experience for its users. The growing interest in DEXs and the AMM model, as seen in platforms like Uniswap, Aave, and SushiSwap, underscores the potential and importance of Ren in the DeFi space.
Resources
Official Website: https://renprotocol.org/
How Does Ren Work?
Ren Virtual Machine (RenVM) is a powerful solution that performs private computations over a decentralized network. RenVM operates as a trustless custodian of cryptocurrencies, ensuring that every tokenized asset on its network is backed by an equivalent amount of the original asset. This system employs several advanced technologies to maintain privacy and security:
- Shamir’s Secret Sharing: This cryptographic method splits sensitive data into multiple parts, distributed among various network participants. This process not only conceals private keys within the RenVM network but also safeguards them from potential vulnerabilities.
- Secure Multiparty Computation (sMPC): This algorithm allows code to run without revealing its inputs or outputs, fostering private data sharing among different entities. It's a pivotal feature for maintaining privacy in data transactions.
- Byzantine Fault Tolerance (BFT): This algorithm enables the Ren network to function effectively, even if some nodes fail. It enhances the reliability of the blockchain by preventing system failures and false transactions.
- Hyperdrive: RenVM's consensus mechanism, which processes transactions rapidly, achieving confirmations in a remarkably short time. This mechanism is based on a high-speed, low-latency gossip protocol, offering scalability for cross-chain interactions.
Additionally, Ren introduces the concept of Darknodes, which are decentralized nodes that contribute to the network's security and efficiency. These nodes require a bond of REN tokens to operate, creating a stake in the network's ongoing health and integrity.
What Is REN Token?
REN is the native token of the Ren ecosystem. It has a total supply capped at 1 billion tokens. The token serves multiple purposes within the Ren network:
- Staking for Darknodes: To operate a Darknode, participants must lock a significant amount of REN tokens, which helps secure the network.
- Transaction Fees: While users don't need to hold REN to access the platform, the token is used to pay transaction fees and compensate Darknode operators.
- Governance and Incentives: Holding REN tokens can also involve participating in governance decisions and earning rewards for contributing to the network's stability and growth.
What Determines Ren’s Price?
The price of Ren, like many cryptocurrencies, is influenced by a complex interplay of factors, pivotal in the volatile and dynamic world of blockchain and digital assets. One of the primary drivers is market demand, which is closely tied to the utility and adoption of the Ren protocol. As Ren facilitates seamless and secure cross-chain transactions, its increasing use in the burgeoning DeFi (Decentralized Finance) sector can significantly boost demand. This demand is often reflected in the trading volume of REN tokens across various cryptocurrency exchanges. Furthermore, the success of RenVM (Ren Virtual Machine) in providing interoperability solutions between isolated blockchain networks also plays a crucial role. As more assets are tokenized and transferred via RenVM, the intrinsic value of the REN token is likely to rise, reflecting its growing utility in the ecosystem.
Another critical factor in determining Ren's price is the broader sentiment in the cryptocurrency market. Like other digital assets, REN is subject to market trends, investor sentiment, and regulatory news, which can cause price fluctuations. Additionally, the fixed supply of REN tokens – capped at 1 billion – introduces a scarcity factor, often a key consideration in asset valuation in the crypto space. The staking mechanism for operating Darknodes also impacts the price, as it locks a significant portion of the total supply, potentially reducing market circulation and creating upward pressure on the price. Moreover, strategic partnerships, integrations with popular DeFi platforms, and technological advancements within the Ren ecosystem can further influence investor confidence and, consequently, the token's market value. As the blockchain and cryptocurrency landscape continues to evolve, Ren's position as a facilitator of cross-chain liquidity and privacy-preserving transactions will remain central to its valuation in the market.
For those interested in investing or trading Ren, one might wonder: Where to buy REN? You can purchase REN on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.
Ren price performance in USD
Ren price history in USD
Ren market information
REN to local currency
Crypto calculatorHow to buy Ren(REN)
![Create Your Free Bitget Account](/price/_next/static/media/HTB_step1.fc7a3f4a.png)
Create Your Free Bitget Account
![Verify Your Account](/price/_next/static/media/HTB_step2.2d71969a.png)
Verify Your Account
![Buy Ren (REN)](/price/_next/static/media/HTB_step4.449f78aa.png)
Buy Ren (REN)
Trade REN perpetual futures
After having successfully signed up on Bitget and purchased USDT or REN tokens, you can start trading derivatives, including REN futures and margin trading to increase your income.
The current price of REN is $0.03428, with a 24h price change of +3.58%. Traders can profit by either going long or short onREN futures.
Join REN copy trading by following elite traders.
Ren news
See more![XRP May Not Surge After the End of the Ripple vs. SEC Case](https://img.bitgetimg.com/multiLang/image/social/2d313863589977e3f166b0b38ea4d7f91722665177081.png)
Buy more
FAQ
What is the current price of Ren?
What is the 24 hour trading volume of Ren?
What is the all-time high of Ren?
Can I buy Ren on Bitget?
Can I get a steady income from investing in Ren?
Where can I buy Ren with the lowest fee?
Where can I buy Ren (REN)?
Trade
Earn
REN/USDT
SpotREN/USDT
MarginCopy trading
Related assets
![share](/price/_next/static/media/share.a152cde6.png)
REN Social Data
In the last 24 hours, the social media sentiment score for REN was 3, and the social media sentiment towards REN price trend was Bullish. The overall REN social media score was 0, which ranks 822 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with REN being mentioned with a frequency ratio of 0.01%, ranking 419 among all cryptocurrencies.
In the last 24 hours, there were a total of 229 unique users discussing REN, with a total of REN mentions of 54. However, compared to the previous 24-hour period, the number of unique users increase by 3%, and the total number of mentions has decrease by 27%.
On Twitter, there were a total of 0 tweets mentioning REN in the last 24 hours. Among them, 0% are bullish on REN, 0% are bearish on REN, and 100% are neutral on REN.
On Reddit, there were 2 posts mentioning REN in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% .
All social overview
3