Convert and Swap Ren REN to United States Dollar USD
REN/USD: 1 Ren equals $0.0289 USD
Ren (REN) is not tradable on Coinbase.
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Last update: 8:04 AM, December 23, 2024
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Ren is falling this week.
The current price of Ren is $0.0289 per REN. With a circulating supply of 999,330,480.362 REN, it means that Ren has a total market cap of $28,924,259.85. The amount of Ren traded has risen by $117,394.51 in the last 24 hours, which is a 7.14% increase. Additionally, in the last day, $1,644,187.61 worth of REN has been traded.
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About Ren
Ren (REN) is an Ethereum token that powers Ren’s open protocol for transferring cryptocurrencies between blockchains. Ren aims to bring popular assets like Bitcoin and Zcash to blockchains including Ethereum, making it possible for these assets to participate in a multi-chain decentralized finance ecosystem.
Ren (REN) is an open protocol designed to enhance interoperability and liquidity between different blockchain platforms. The protocol's native token, REN, serves as a bond for those running nodes, known as Darknodes, which power RenVM, Ren's virtual machine mainnet. Ren's primary objective is to improve the accessibility of decentralized finance (DeFi) by eliminating the challenges associated with liquidity between blockchains. It achieves this by allowing DeFi projects to incorporate foreign cryptocurrency assets into their offerings and enabling users to swap any token between any two blockchains without the need for intermediary steps.
Ren operates through RenVM, a network of virtual computers that collectively form a virtual machine. The computers that power the network making up RenVM are referred to as Darknodes. Ren charges various fees for internal operations, but most of these do not contribute to direct profitability and are instead paid to miners. As an ERC-20 token, REN also incurs varying gas fees to power transactions. RenVM employs a Byzantine fault-tolerant protocol that facilitates ECDSA threshold key generation and signing via secure multi-party computation (sMPC), enabling it to securely manage (ECDSA) private keys on different blockchains and shift tokens between these blockchains.
Ren is designed to overcome barriers to entry and investment for DeFi projects. As a plug-in, it enables DeFi projects to incorporate foreign cryptocurrency assets, such as Bitcoin and Zcash, into their offerings. More broadly, it allows users to swap any token between any two blockchains without the need for intermediary steps, such as using "wrapped" versions of tokens. This functionality aims to enhance the interoperability of the DeFi space, making it more accessible and user-friendly.
Ren was founded by Taiyang Zhang in 2017 and was initially known as Republic Protocol. The project was first announced in January 2018, with Zhang outlining its initial use case as a "decentralized dark pool." Ren launched RenVM, its virtual machine mainnet, in May 2020, following a successful initial coin offering (ICO) in 2018 that raised $34 million. Zhang has a background in the cryptocurrency space, having co-founded crypto hedge fund Virgil Capital. Prior to that, he co-founded Neucode, a software and web development startup, in 2014.
How Ren and United States Dollar differ
Ren (REN) and the US Dollar (USD) are two distinct forms of currency, each with its own unique characteristics and uses. Ren is a digital asset, part of the burgeoning world of cryptocurrencies, and is the native token of an open protocol that aims to enhance interoperability and liquidity between different blockchain platforms. It operates through RenVM, a network of virtual computers that form a virtual machine, and its primary objective is to improve the accessibility of decentralized finance (DeFi) by eliminating the challenges associated with liquidity between blockchains. On the other hand, the US Dollar is a traditional fiat currency, issued and regulated by the US government, and is used for a wide range of transactions, from buying a cup of coffee to international trade. Unlike Ren, the value of the US Dollar is not determined by market demand but by monetary policy set by the Federal Reserve. While Ren seeks to enable users to swap any token between any two blockchains without intermediary steps, the US Dollar operates within a centralized banking system. The key differences between Ren and the US Dollar highlight the contrast between the innovative, decentralized world of cryptocurrencies and the established, centralized world of traditional fiat currencies.
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REN to United States Dollar conversion tables
The exchange rate of Ren is decreasing.
The current value of 1 REN is $0.03 USD. In other words, to buy 5 Ren, it would cost you $0.14 USD. Inversely, $1.00 USD would allow you to trade for 34.57 REN while $50.00 USD would convert to 1,728.72 REN, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 29.41%. Meanwhile, in the last 24 hours, the rate has changed by 2.42%, and that the the highest exchange rate of 1 REN to United States Dollar was $0.0411 USD and the lowest 24 hour value was 1 REN for $0.0282 USD. This time last month, the value of 1 REN was $0.05 USD, which is a 38.87% increase from where it is now. Looking back a year, Ren has changed by $0.07 USD. That means that in a single year, the value of Ren has shrank by 41.15%.
REN to USD performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
$0.0297 USD | -2.42% | $0.0407 USD | -29.41% | $0.0476 USD | -38.87% | $0.0686 USD | -41.15% |
REN to USD
Amount | Today at 8:04 am |
|---|---|
0.5 REN | $0.0145 |
1 REN | $0.0289 |
5 REN | $0.1446 |
10 REN | $0.2892 |
50 REN | $1.4462 |
100 REN | $2.8923 |
500 REN | $14.4615 |
1,000 REN | $28.9231 |
USD to REN
Amount | Today at 8:04 am |
|---|---|
0.5 USD | 17.29 REN |
1 USD | 34.57 REN |
5 USD | 172.87 REN |
10 USD | 345.74 REN |
50 USD | 1,728.72 REN |
100 USD | 3,457.44 REN |
500 USD | 17,287.22 REN |
1,000 USD | 34,574.45 REN |
Today vs. 24 hours ago
Amount | Today at 8:04 am | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 REN | $0.0145 | $0.0202 | -28.51% |
1 REN | $0.0289 | $0.0405 | -28.51% |
5 REN | $0.14 | $0.20 | -28.51% |
10 REN | $0.29 | $0.40 | -28.51% |
50 REN | $1.45 | $2.02 | -28.51% |
100 REN | $2.89 | $4.05 | -28.51% |
500 REN | $14.46 | $20.23 | -28.51% |
1,000 REN | $28.92 | $40.46 | -28.51% |
Today vs. 1 month ago
Amount | Today at 8:04 am | 1 months ago | 1M Change |
|---|---|---|---|
0.5 REN | $0.0145 | $0.0238 | -39.21% |
1 REN | $0.0289 | $0.0476 | -39.21% |
5 REN | $0.14 | $0.24 | -39.21% |
10 REN | $0.29 | $0.48 | -39.21% |
50 REN | $1.45 | $2.38 | -39.21% |
100 REN | $2.89 | $4.76 | -39.21% |
500 REN | $14.46 | $23.79 | -39.21% |
1,000 REN | $28.92 | $47.58 | -39.21% |
Today vs. 1 year ago
Amount | Today at 8:04 am | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 REN | $0.0145 | $0.0343 | -57.80% |
1 REN | $0.0289 | $0.0685 | -57.80% |
5 REN | $0.14 | $0.34 | -57.80% |
10 REN | $0.29 | $0.69 | -57.80% |
50 REN | $1.45 | $3.43 | -57.80% |
100 REN | $2.89 | $6.85 | -57.80% |
500 REN | $14.46 | $34.27 | -57.80% |
1,000 REN | $28.92 | $68.54 | -57.80% |
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