Ren Coin (REN) is a decentralized finance project that aims to eliminate the liquidity barriers between blockchains and increase the coherence and accessibility of decentralized (De-Fi) finance projects. The local token of the Ren project, formerly the Republic Protocol, is the name of the digital currency REN.
The REN coin is required to run RenVM, the virtual machine network of the Ren project. In order to prevent malicious people from running an unlimited number of nodes in this public Darknode network, a smart contract is signed with the coin by showing a minimum guarantee of 100 thousand REN. Once the darknode is finished, the paid REN coins will be refunded. Those who manage the Darknodes that contribute to the processing power and storage network of the network in the Ren project are rewarded with cryptocurrencies in BTC, ETH, ZEC, DAI. REN coin has been the focus of attention in the cryptocurrency market with the news that it was over-bought by whales during the Bitcoin rally in the summer of 2020. Accordingly, the 10 wallets holding the most REN coins outside of the stock markets increased the amount of REN in their hands by 44% in the rally in July 2020.
1 REN coin is trading at 1.15 USD today. About 1 billion REN coins are in operation in the market, and this accounts for 100% of the total supply. With a market capitalization of 1.1 Billion USD, REN coin ranks 63rd in the market. The REN reached its historic high of $1.83 in February 2021.
While REN coin is not listed among Turkish exchanges, it can be bought and sold abroad from major exchanges such as Binance, Coinbase Pro, DigiFinex, OKEx, Gemini, Uniswap, Probit, Bithumb.