Feb 20, 2021 07:05 UTC
Feb 20, 2021 at 07:05 UTC
REN price spikey to a novel all-time high soon after its new integration with Binance Smart Chain.
Ren price experienced a strong 65% escape on February 19 as the interoperability attentive protocol saying ongoing accumulation from whale wallets holding more than 1M REN.
Data from TradingView & Cointelegraph Markets displays that REN rose from $0.99 on February 18 to create a new all-time high of $1.84 on February 19. The move to a novel high happened as REN’s trading volume also touched $704M over the previous 24-hours.
Consideration for the protocol received an obvious uptick at the finish of Jan. when it was proclaimed that DOGE would be united with REN, allowing the trading of renDOGE in the rising DeFi ecosystem.
Meanwhile, that time the REN ecosystem has sustained to enlarge as more top-tier projects such as Filecoin have undergone the alteration to become renFIL, which is present-day being measured for addition to the AAVE ecosystem.
Binance Smart Chain addition fortifies REN’s use case
REN was trading at $0.94 on February 15 before it was proclaimed that RenBridge 2 was live & combined with the Binance Smart Chain. Meanwhile that time, the trading volume has progressively enlarged as well as the total value protected on the RenVM.
As understood in the chart above, the VORTECS
The current incorporation with BSC has carried rehabilitated courtesy to REN which was disadvantaged by high transaction costs on the ETH network.
With DeFi heating up, interoperability between blockchain networks is flattering vital for a well-functioning market & REN is developing as an important piece in cross-chain communication.