Ren (REN), the open-sourced protocol token, sees increased interest with its Multichain projects. It recently transferred all assets to
FTX debtors' wallet to bolster
DeFi liquidity due to the market slump. Ren is sparking
bullish expectations with its crossing bridge RenBridge. This feature supports
seamly interoperability between blockchains, hence can bridge almost any asset. However, RenBridge is under scrutiny for allegedly laundering $540M for crypto criminals. Attention is also on Ren Labs for successfully raising $7.5M in funding for their project 'Catalog'; a cross-chain DEX, which has surged REN price by 65%. Despite market uncertainties, REN remains an attractive token in the Crypto market, with
Alexis Ren citing cryptos like REN as viable alternatives to the Dollar Economy. Notably, an AI-Related Token, Ren Coin, surged while Maple and Ren fell. Important to note, Ren's
attempt to leverage layer-2 solutions like Polygon and Fantom has been a milestone, greatly improving
DeFi scalability. It's worth noting that transactions in the Ren Protocol have hit 10,000 BTC. The market anticipates Ren launching a new network after shutting down the current one, increasing speculation around it. Finally, with the connection to Binance and the impressive rate of adoption, the future of Ren Coin remains optimistic.
REN Coin News Analytics from Wed, 10 Aug 2016 07:00:00 GMT to Sat, 10 Aug 2024 03:23:58 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor -1
