REN Moves Lower By 10.7% Today But Is Surging 340% Since July: Consider Betting On This Cheap Stock?

Today, REN price is at $0.942050 with a 24-hour trading volume of over 21 million. It is a 10.7% decrease in the last 24 hours. Interoperability has become a key theme within the crypto market as it relates to the evolution of the blockchain ecosystem. As decentralized applications (dApps) become more prevalent, the need for efficient and secure communication is also increasing. Ren (REN), a blockchain protocol that enables the decentralized exchange of assets, has started gaining momentum.
Three reasons for the price growth in REN include the steady increase in activity and the total value locked on RenVM. The price of Ethereum spiked on September 15 after the release of the Arbitration bridge. The platform is a layer-two network that enables decentralized applications to run in a fast, low-cost environment. Due to the high fees and delayed transactions times, many users have been unable to use Ethereum’s decentralized protocols (DFTs) related to nonfungible tokens (NFT). Arbitrum’s low-cost environment has made it an attractive choice for BTC holders wanting to migrate to a more robust DeFi environment.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.