Ren (REN) Uprises to 66% In A Week Following The Launch Of Greycore Testnet
- REN has surged up to 66% in price value within a week.
- It is an open-protocol which enables the value movement between blockchains.
- On September 13, REN announced that Greycore is live on Testnet.
Over the past few months, the crypto market has seen both bullish and bearish runs with significant highs and lows. Moreover, mainstream cryptocurrencies have also hit its all-time high during the bullish trend. Along with that some other meme-currencies like Shiba Inu, Small Love Potion and some more coins have also skyrocketed in price value. On the other hand, some well-known crypto-assets experienced downtrend during the same period of time.
Thus the trading chart of these cryptocurrencies totally depend on their own advancement in the ecosystem. As a matter of fact, investors also play a major role in the price charts of cryptocurrencies. Besides, it has become usual that at one time the crypto market will be bullish and other times it will present a bearish trend. Since the market went down for the past week, some altcoins did not follow that way. One such coin is Ren, which has surged to 66% within a week and 31% up in the last 24-hours.
Ren (REN) is an Ethereum token that enables Ren to transmit cryptocurrencies from blockchains by means of the open protocol. Ren wants the blockchains, including Ethereum, to include popular assets such as Bitcoin and Zcash, enabling these assets to participate in a multi-chain decentralized funding ecosystem.
Current Market Status
At the time of writing, the trading price of REN is $1.14 with a trading volume of $757,459,543 in the last 24-hours. According to Coinmarketcap, the price value of REN has surged to 66% in a week and 31% up in the past 24-hours. The current circulating supply of REN is 997,764,051 and holds 97th rank.
The chart depicts the bullish pattern over the past week. The trading price of REN has surged from $0.71 to $1.15 within seven days. The 30-day statistics displays that the price of REN has surged over 120%. Besides, REN is available in top exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, and FTX.
RenVM Greycore in Testnet
Ren protocol has announced that RenVM Greycore is live on Testnet on September 13. RenVM Testnet will use Greycore, a set of nodes run by DeFi, as a semi-decentralized validator set. Ren’s team focuses on safety for user funds and that results in integration of Greycore concept. It ensures the safety of users’ funds while moving RenVM to a decentralized and reliable protocol that stands the test of time at the same time.
As of the recent updates, the live of Greycore Testnet might be the reason for the surge in price value of REN in the past week. However, users expect more price hikes considering the advancements in the network. With the on-going developments in the ecosystem investors can see highs in near future.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
