In 2021 Ren repeatedly hit the headlines after some substantial price runs. But Ren isn’t just another mainstream cryptocurrency hype; the project might have a crucial role to play in the ever-evolving world of DeFi.
The cryptocurrency market has changed a lot in the last two years, with DeFi Projects including exchanges, lending platforms and even insurance providers taking centre stage.
However, even as projects advance and continue to grow into a full-fledged digital financial infrastructure, interoperability still has issues.
And that is where projects like Ren come in.
REN Overview
CRYPTOCORRRENTITY Ren
TICKER SYMBOL REN
RANGO 153
PRICE $0.38170537021914264
PRICE CHANGE 24H 0.47%
PRICE CHANGE 7D 14.32%
MARKET CAPITALISATION US$ 380,851,896.48
CURRENT SUPPLY 997,764,051.017
TRADING VOLUME US$ 51,261,731.25
Ren is an ambitious platform that allows users to transfer cryptocurrency assets across different blockchains in the simplest possible terms. The advantage of such a project should be immediately apparent, as several of DeFI’s major projects are based on Ethereum. At the same time, many of the world’s most valuable cryptocurrencies, including Bitcoin, have their blockchain.
So can we expect more Ren bulls in the coming years, or are there other platforms that can do the same job, only better? In the following Ren price prediction for 2025 and 2030, we will consider the project in more depth and take a look at analysts’ predictions for its possible price movement.
Table of contents
Ren’s origins
A closer look at Ren
How does Ren work?
The REN token
Looking at Ren’s price history
Ren price predictions: 2025 – 2030
Ren price predictions for 2025
Ren price predictions for 2030
How much will REN be worth in 2030?
Conclusion: Should you invest in Ren?
Where to buy the REN cryptocurrency
Table of Contents:
REN’S ORIGINS
Ren began its life as a Republic Protocol. It was launched in 2017 by Australian developers Taiyang Zhang and Loong Wang with the original intention of providing a solution for large OTC cryptocurrency transactions. However, it changed its name to Ren in 2019 and shifted its focus to interoperability.
The core network was launched in May 2020 and originally supported a small handful of tokens, which could be “converted” into ERC-20 tokens via the Ren virtual machine.
A CLOSER LOOK AT REN
While interoperability is a major challenge facing the cryptocurrency market and is likely to become more significant as DeFi continues to grow, Ren is one of the few projects that seek to address this problem directly.
RenVM is 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, allowing them to bring that value to any Ethereum or Binance application or DeFi project.
The obvious candidate here would be Bitcoin. By leveraging RenVM, users can lock up their BTC and receive, for example, Ether at a ratio of 1:1. This would allow them to access Ethereum-based projects without selling their Bitcoin. Ren was one of the parties involved in developing Wrapped Bitcoin in 2019.
HOW DOES REN WORK?
The inner workings of a project like Ren are inevitably highly complicated and not something we can cover in great depth in this article. However, it is important to understand some key fundamentals before considering investing in Ren.
The Ren software has a proprietary virtual machine responsible for the 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 works with DarkNodes, which effectively allows the platform to handle the received tokens and mint an equivalent value of renBTC for BTC in Ethereum, without the details of the transaction being revealed.
How is this achieved? The RenVM uses zkSnarks and the shamir Secret Sharing Scheme, which shards orders so that individual nodes do not have access to the full information.
The Ren virtual machine then keeps the original BTC in storage. If the user wishes to retrieve their tokens, the process described above is done in reverse.
Users pay a small percentage of the token they convert as a fee for using the RenVM.
THE TOKEN REN
We already covered how Ren platform users pay for services with a fee taken from the cryptocurrency they transact with, so what exactly is the platform’s native token, REN, and what is it used for?
REN is the utility token that underpins RenVM, as it is used in the consensus mechanism used by dark nodes. Users seeking to operate as nodes must pledge 100,000 REN tokens as a kind of link to prevent malicious activity. Validators are rewarded with a small percentage of the liquidity that passes through the RenVM.
While writing this article, the Ren project is still governed by a development team, but eventually, it is believed that REN will become the platform’s governing token.
LOOKING AT REN’S PRICE HISTORY
REN has been widely listed and traded since March 2018. In the early days, the token was trading for around $0.07; it dropped to less than $0.03 a month later, before a slight rebound took it to just over $0.12 per token in May. However, this was the most fanfare REN has seen for a year or so.
The token remained below $0.05 for the rest of 2018 and the first half of 2019. But in August, things picked up a bit, and REN rose to approximately $0.15 per token. Unfortunately, this rally was not sustained, and the coin returned to familiar sub-five cent territory in October, where it would mostly remain until the second half of 2020.
In August, REN saw another bull, but it was more substantial in 2020. The token soared to $0.58 per token, marking a growth of approximately 1350% at the beginning of the year. REN then saw substantial volatility for the remainder of 2020 but overall remained above $0.25 and climbed to $0.42.
The token then took a big hit in the first half of 2021. In February, as the cryptocurrency market grew, REN soared to an all-time high of $1.80 and traded above $1.00 for much of March and April. However, a market-wide recession hit in the summer, sending REN down to around $0.29. However, things did not stay depressed for long and by October, the token had risen to $1.15.
REN PRICE FORECASTS: 2025 – 2030
According to our price forecasts for Ren over the next five to ten years, the REN currency is expected to have a strong upward trend in values. Therefore, it may prove a solid investment over five and ten years.
Explore our overview for long-term Ren price predictions and find out what our forecast reveals about the future price of REN.
Long-term REN price forecast 2025 to 2030
YEAR MID-YEAR YEAR-END
2025 US$ 1.23 US$ 1.54
2026 US$ 1.87 US$ 2.12
2027 US$ 2.32 US$ 2.65
2028 US$ 2.95 US$ 3.15
2029 US$ 3.56 US$ 4.12
2030 US$ 4.87 US$ 5.25
2025: The maximum expected price of REN for 2030 is $ 1.54.
2030: The maximum expected REN price for 2030 is $5.26.
REN PRICE PREDICTIONS FOR 2025
REN’s price history shows that the token has been volatile at times, even by cryptocurrency standards. That said, it seems to have established a lower price concerning price after its success in 2021. So what do analysts predict for REN’s potential over the next few years?
Our 2025 REN price prediction suggests that volatility is likely to continue, but overall the token will make some pretty impressive beans. After a big fluctuation throughout 2022, REN is expected to close the year up around 250% at $1.72. So by the time 2025 rolls around, REN could be worth as much as $5.77.
Ren price forecast by experts:
- WalletInvestor predicted that REN would reach $1.00 within a year and $4.50 within five years.
- 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 REN price of $1.45 in 2023, $4.5 in 2025 and maybe even $10 in 2030.
According to the REN 2025 price forecast, Ren will perform well in the opening and closing months of the year, with a slowdown occurring in the summer months. By the end of 2025, REN could be worth as much as $4.45.
2030 REN PRICE FORECASTS
According to Ren 2030 price forecast and long-term technical analysis, the price of REN will be worth up to $8.69 per token by the end of 2030.
Given the significant fluctuations in the price of REN, which are expected to continue, making long-term price forecasts for the token is a bit tricky. Therefore, while 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.
According to REN’s price predictions, the Ren currency will make solid gains year on year. By 2026, it is expected to trade at an average of $2.89. A year later, 2027 will see REN soar past $3.10 and by the time 2030 rolls around, the token is predicted to be worth $9.72.
Of course, this last prediction is very optimistic, and readers should note that it is out of line with the other forecasts we have seen. As such, it should be seen as a best-case scenario for REN.
How much will REN be worth in 2030?
Whenever you are looking for a new cryptocurrency to add to your portfolio, we believe it is always a good idea to consider a project’s use case and choose based on sound technical fundamentals. Ren ticks both boxes. Interoperability is a big issue in the DeFi world, and Ren is tackling this problem head-on.
The platform’s unique approach means it is perfectly designed to transfer a token’s value from one blockchain without sacrificing security or decentralisation. There is certainly a very real need for such a project, and potential investors need only look at the success of Wrapped Bitcoin to see this in action.
REN’s price predictions for 2025 and 2030 appear to be positive. While we cannot take for granted that they will be accurate, they certainly present an important vote of confidence in the platform, which has sometimes been described as one of the most undervalued tokens on the market.
On balance, we believe REN has a lot of potential as an investment. Realistically, the project is likely to grow in line with major DeFi projects, as, at the very least, it offers Bitcoin holders a way to put their tokens to work, rather than simply storing them and waiting for them to appreciate over time.
Suppose you are considering investing in Ren in 2022. In that case, we recommend you read a bit more about the platform. Perhaps check out the whitepaper on the official website to make sure you fully understand the goals and objectives of the project before committing funds.
WHERE TO BUY THE REN CRYPTOCURRENCY?
If you are looking to invest in REN, you probably already understand the basics of buying and selling cryptocurrencies. However, if you are new to the market, you should ensure you have a crypto wallet that can store REN.
