REN Price Prediction

calendar
Mar 24, 2022
timer
6 min read
ren-price-prediction

This blog post will cover:

  • REN statistics
  • REN Roadmap
  • Crypto community about REN
  • REN Price Prediction 2022
  • REN Price Prediction 2023
  • REN Price Prediction 2025
  • REN Price Prediction 2030 
  • REN Historical Price Analysis

The idea behind the Ren protocol was to allow people to transfer their digital assets between different blockchains.
REN is the platform's native token. The REN token is used to make a deposit towards becoming a DarkNode on the Ren network, as well as to pay people who act as DarkNode operators.

REN statistics

Let's look at the statistics of the REN token on the CoinMarketCap service:

REN Roadmap

The Ren Network was founded in 2017 by software developers Loong Wang from Australia and Taiyang Zhang from Singapore. The company was originally known as Republic Protocol, but in 2019 it rebranded to Ren.

The project developers have already published an action plan for the first quarter of 2022 on the official website. Let's look at these points:

  • Darknode v0.4.9 Deployment
    The developers have prepared a new update for Darknode. New transaction type "burn and mint" will be available to users.
  • Burn-and-Mint transactions
    There will be no need to return to the original chain when bridging any of the supported assets to another blockchain.
  • Additional RenVM Assets Supported through Host 2 Host
    Listing is now managed by Ren Community Governance, meaning members can choose a new asset or token that RenVM will support.
  • H2H integration and decentralized applications
    users can create different cross-chains from exchange of native assets to LP token transferring dApps.
  • RenVM Greycore
    Developers will add an automatic update feature for Greycore nodes.
  • Non-ECDSA Blockchain Support
    Developers will consider adding support for blockchains that are outside the realm of ECDSA (such as Ripple, Cardano, etc.)
  • Ren as Layer Zero (L0)
    The development team believes that moving to General Purpose L0 is the inevitable next step for RenVM development. Therefore, developers will aim to complete the decentralized bridging and expand RenVM during 2022. Thus, third parties will be able to build and deploy their own applications with the help of this stack.

The team that works on this protocol claims that development, growth, as well as reliability is a top priority in 2022.

To sum up, developers will strive for maximum decentralization of RenVM during moving to L0.

Crypto community about REN

Crypto enthusiasts are optimistic about REN. Many people share on their accounts why the Ren Protocol is attractive to them.

Some enthusiastically expect and predict the growth of the REN token price.

REN Price Prediction 2022

  • The TradingBeasts service provides the following REN price forecast for 2022:
  • Based on WalletInvestor, we can see the following forecast for REN for 2022:

REN Price Prediction 2023

The average price of the REN token in 2023 may stay between $0.6 and $0.7. However, there are more optimistic forecasts on some other services. For example, WalletInvestor analysts believe that the maximum price in January 2023 that the token can reach is more than $1, and in December its price may rise to $1.5.

REN Price Prediction 2025

As of 01/19/2022, WalletInvestor experts suggest that as early as the beginning of 2025, the REN token may reach $2.228, and by the end of the year its price will slightly increase to $2.5. At the same time, DigitalCoinPrice analysts predict that the maximum average price per token in 2025 can reach only $1.04.

REN Price Prediction 2030 

As of 01/19/2022, the CryptocurrencyPricePrediction service makes a fairly optimistic forecast for REN price growth by 2030, it is assumed that by the end of 2030 the price may increase to $18.6 per token.

REN Historical Price Analysis

As of January 19, 2022:

All-time high - $1.83 (Feb 20, 2021)
All-time low - $0.01548 (Nov 27, 2018)

At the beginning of 2018, the price of the REN token started at $0.08. For a long time until May 2020, the price remained the same, and then began to gradually increase. At the end of July 2020, $renBTC became available on KyberSwap, so the price of the REN token increased to $0.5.

Shortly thereafter, the price of the token dropped again and reached $0.17. After the announcement of the integration of RenVM with the OpenDAO Protocol, the price began to rise, and after the addition of BinanceSmartChain, it reached an all-time high of $1.83.

This was followed by a sharp drop in price to $1, and after that to $0.27. After the collaboration with Index COOP, the price of the token increased to $1.2.

The Ren protocol shows great potential, as developers are constantly working on its extension, new updates that will be available to users very soon. This project makes it possible to transfer assets through various blockchains and makes life easier. Some experts believe that this protocol has good chances in the cryptocurrency market.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Don’t miss our new articles!

mailbox

Share on:

Related Articles

stepn-price-prediction
Price Predictionscalendar
Apr 20, 2022

STEPN Price Prediction

Learn more about the GMT price

litecoin-price-prediction
Price Predictionscalendar
Mar 29, 2022

Litecoin price prediction

What LTC price is expected this year

ethereum-price-prediction
Price Predictionscalendar
Mar 29, 2022

Ethereum price prediction

What ETH price is expected this year