Ren hit the headlines several times in 2021 following some substantial price runs. But Ren isn’t just another cryptocurrency hype train, the project could play a crucial role in the ever-evolving world of DeFi.
The cryptocurrency market has changed a great deal over the last two years or so, with advanced DeFi projects that include exchanges, lending platforms and even insurance providers taking centre stage.
Yet, even as projects become more advanced and continue to grow into a complete digital finance infrastructure, there are still issues relating to interoperability. And that’s where projects like Ren come in.
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In the simplest possible terms, Ren is an ambitious platform that allows users to transfer cryptocurrency assets across different blockchains. The advantage of such a project should be immediately apparent, as several top DeFI projects are built on Ethereum, whereas many of the world’s most valuable cryptocurrencies - including Bitcoin - have their own blockchain.
So can we expect further bulls from Ren in the coming years, or are there other platforms out there that can do the same job, only better? In the following Ren price prediction for 2025 and 2030, we’ll consider the project in more depth, as well as take a look at analysts predictions for its potential price movement.
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Ren Origins
Ren started life as the Republic Protocol. It was started in 2017 by Australian developers Taiyang Zhang and Loong Wang with the original intention of providing a solution for large OTC cryptocurrency transactions. It rebranded to Ren in 2019 and changed its focus to interoperability.
The mainnet then launched in May 2020 and originally supported a small handful of tokens, that could be ‘converted’ into ERC-20 tokens via the Ren Virtual Machine.
A Closer Look At Ren
Interoperability is already a major challenge facing the cryptocurrency market and is only likely to become more significant as DeFi continues to grow, Ren is one of the few projects that is directly seeking to address this issue.
The RenVM is effectively a bridging platform that allows users to access liquidity across different blockchains. It allows users to lock their tokens into the platform and create an ERC-20 or BEP-20 token of equivalent value, which then allows them to take that value onto any Ethereum or Binance application or DeFi project.
The obvious candidate here would be Bitcoin. By leveraging the RenVM, users can lock in their BTC and receive, say, Ether at a ratio of 1:1. This would then allow them to access Ethereum based projects without having to sell their Bitcoin. Ren was one of the parties involved with developing Wrapped Bitcoin back in 2019.
How Does Ren Work?
Inevitably, the inner workings of a project like Ren are highly complicated and not something that we can cover in any great depth in this article. However, it's important to understand a few key fundamentals before you consider investing in Ren.
Ren software has a proprietary virtual machine that is responsible for smart contract code. If a user wants to send Bitcoin to an Ethereum based project, the first step is to send their BTC to a public address generated by Ren. The RenVM is powered by DarkNodes which effectively allow the platform to handle the received tokens and mint an equivalent vale of renBTC for BTC on Ethereum, without the details of the transaction being revealed.
How is this achieved? The RenVM uses zkSnarks and the Shamir Secret Sharing Scheme, which fragments orders so individual nodes do not have access to the full information.
The Ren virtual machine then holds the original BTC in storage. If the user wants to retrieve their tokens, then the process outlined above is performed in reverse.
Users pay a small percentage of the token they convert as a fee for using the RenVM.
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The REN Token
We’ve already seen how users on the Ren platform pay for services with a fee taken from the cryptocurrency they transact with, so what exactly is the platform’s native token, REN, used for?
REN is the utility token that underpins the RenVM, as it is used in the consensus mechanism used by the Dark Nodes. Users looking to operate as nodes must commit 100,000 REN tokens, as a kind of bond to prevent malicious activity. Validators are rewarded with a small percentage of the liquidity that passes through the RenVM.
At the time of writing, the Ren project is still governed by a development team, but eventually it is thought that REN will become the governance token of the platform.
Looking At Ren’s Price History
REN has been fairly widely listed and traded since March 2018. In the first few days, the token was changing hands for around $0.07, though it dropped to less than $0.03 less than a month later, before a mild upswing took it to just over $0.12 per token in May. However, this was the most fanfare that REN was to see for a year or so.
The token generally remained below $0.05 for the remainder of 2018 and the first half of 2019. But in August, things picked up a little and REN climbed to roughly $0.15 per token. Unfortunately, this uptick didn’t hold and the coin was back into familiar sub-five cents territory by October, where it would mostly stay until the latter half of 2020.
It was again in August that REN saw another bull - but it was more substantial in 2020. The token soared to $0.58 per token - marking growth of roughly 1350% on the beginning of the year. REN then saw substantial volatility for the remainder of 2020, but generally remained above $0.25 and climbed as high as $0.42.
The token then saw great success in the opening half of 2021. As the cryptocurrency market boomed, REN soared to an all-time high of $1.80 in February, and traded above $1.00 for much of March and April. A market-wide downturn struck in the summer however, sending REN down to around $0.29. Things didn’t stay depressed for long though and by October, the token had climbed up to $1.15.
Read Also: How To Trade Ren With $100
Ren Price Predictions: 2025 - 2030
According to our Ren price predictions for the next five to ten years, the REN coin is estimated to have a strong uptrend in values. It can prove to be a solid investment in the next five and ten years.
Explore our overview for long-term Ren price predictions and find out what our forecast reveals about the future REN price.
Long Term REN Price Prediction 2025 to 2030:
| Year | Mid-Year | Year-End |
|---|---|---|
| 2025 | $1.23 | $1.54 |
| 2026 | $1.87 | $2.12 |
| 2027 | $2.32 | $2.65 |
| 2028 | $2.95 | $3.15 |
| 2029 | $3.56 | $4.12 |
| 2030 | $4.87 | $5.25 |
2025: Maximum expected price of REN by 2030 is $1.54.
2030: Maximum expected price of REN by 2030 is $5.26.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ren Price Predictions For 2025
REN’s price history shows that the token has been pretty volatile at times - even by cryptocurrency standards. That being said, it seems to have established a bottom-floor with regards to price after its success in 2021. So what are analysts predicting for REN’s potential over the next few years?
Our REN price prediction for 2025 suggests that the volatility is likely to continue but overall the token will make some pretty impressive grains. After a great deal of fluctuation across 2022, REN is expected to close the year up by around 250% at $1.72. By the time 2025 arrives, REN could be worth as much as $5.77.
Ren price prediction by Experts:
- WalletInvestor predicted that REN will hit $1.00 in on year and $4.50 five years from now.
- CoinArbitrageBot predicts that REN will be worth $0.75 in exactly one year and $1.50 in three years.
- CoinSwitch gives a prediction of a $1.45 REN price in 2023, $4.5 in 2025, and perhaps even $10 in 2030
As per REN price prediction 2025, Ren will perform well in the opening and closing months of the year, with a downturn occurring in the summer months. By the end of 2025, REN could be worth up to $4.45.
Ren Price Predictions For 2030
According to Ren price prediction 2030 and long-term technical analysis, the price of REN will be worth as much as $8.69 per token by the very end of 2030.
Given the significant fluctuations in REN price, which are expected to continue, making longer-term price predictions for the token is a little tricky. Whilst we have included a couple of REN price predictions for 2030 below, we should point out that these should be seen as suggestive only - they should not inform your investment choices.
As per REN price predictions, the Ren coin will be making solid gains year on year. By 2026, it is expected to be trading at an average of $2.89. A year later, 2027 will see REN soar past $3.10 and by the time 2030 comes around, the token is predicted to be worth $9.72.
Of course, this last prediction is highly optimistic and readers should note that it is out of line with the other forecasts we have looked at. As such, it should be seen as the best possible scenario for REN.
What will REN be worth in 2030?
In terms of price, Ren has an outstanding potential to reach new heights. It is forecast that REN will increase in value. According to experts and crypto analysts, Ren can hit the highest price of $9.70 in 2030.
Don't Miss: Ren Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: Should You Invest In Ren?
Whenever you are looking for a new cryptocurrency to add to your portfolio, we feel it is always a good idea to consider a project's use case and choose based on solid technical fundamentals. Ren ticks both of these boxes. Interoperability is a big deal in the world of DeFi and Ren is addressing this issue head on.
The singular focus of the platform means it is perfectly designed to facilitate the transfer of a token’s value from one blockchain to another, without sacrificing security or decentralisation. There certainly is a very real need for such a project and potential investors only need to look at the success of Wrapped Bitcoin to see this in action.
The REN price predictions for 2025 and 2030 all seem to be positive. Whilst we cannot take it for granted that they will pan out to be accurate, they certainly present a major vote of confidence in the platform, which has at times been described as one of the most undervalued tokens on the market.
All things considered, we feel that REN has a lot of potential as an investment. Realistically, the project is likely to grow in line with the major DeFi projects as, at the very least, it offers Bitcoin holders a way of putting their tokens to work, rather than simply storing them and hoping they appreciate over time.
If you are considering investing in Ren in 2022, we’d recommend a little further reading on the platform - perhaps check out the whitepaper on the official website to make sure you fully understand the project’s aims and objectives before committing funds.
Where To Buy REN Cryptocurrency
If you’re looking to invest in REN, then it’s likely that you already understand the fundamentals of buying and selling cryptocurrency. If you are new to the market, however, then you’ll need to make sure you have a crypto wallet that can store REN.
It’s also important for both beginned and more experienced investors to find a reliable broker that lists the REN token. Fortunately, eToro has added REN to its books. This is good news for new investors as eToro is one of the top platforms for retail investment and has a solid reputation in the industry.
To open an account, you will need to supply some details and complete verification in accordance with regulatory rules, but this process can usually be completed in just a few minutes, after which you’ll have access to the cryptocurrency market and be able to buy and sell several top tokens.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
What is Ren?
Ren is an advanced blockchain project that seeks to address the issue of interoperability within the market. To support the growth of DeFi, Ren provides a platform wherein users can effectively convert their tokens and use them on other blockchains. For example, users can deposit Bitcoin and receive RenBTC tokens to use on the Ethereum blockchain, giving them access to many top DeFi projects without needing to sell off their BTC.
Is REN safe?
Ren utilises DarkNodes and advanced cryptography to ensure that it is completely secure. When users deposit their tokens into the protocol, the transaction is effectively ‘broken up’ so that no single node can access the full details. This means users can use the platform with confidence, as they would any other blockchain platform.
How much will Ren be worth in 2025?
According to the latest updates, the REN future price analysis is expected to be $4.40 at least in 2025. Ren will be able to achieve the maximum price of $5 before 2025 ends.
Can I buy the REN token?
The REN token forms an essential component of the wider Ren project and can be traded on the open market just as most cryptocurrencies can be. If you’re interested in investing in REN, then we’d suggest checking out eToro, as the platform currently lists the token and is known for having a highly accessible trading platform.
What are Ren price predictions for 2030?
Most REN price predictions for 2030 point to significant growth, but they tend to vary on exactly how much. For example, we believe REN can reach $5 by 2025, whilst Coin Price Forecast has it no higher than $6.
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