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REN Price Forecast Ahead of 2021

REN Price overview and forecast Ahead of 2021

August 11, 2021 | 

2381 Views | 

Jesus Guzman | 

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REN is a decentralized exchange platform that allows traders to sell high-value assets without significantly affecting the price of the assets. The platform has provided a solution to the quickly growing cryptocurrency market, and it has attained an all-time high of $1.83. Its all-time low price is $0.01539.

How Does REN Work?

REN is used to exchange large amounts of cryptocurrencies. For example, you can use it to trade 2000 Bitcoin on the dark pool, and this will connect you to other orders. Since the transactions are made over decentralized nodes, no one will have any information regarding the orders. The system was founded by Loong Wang and Taiyang Zhang, but it works as a peer-to-peer community.

How Does REN Work? - By interactivecrypto

REN Price Analysis

The REN current price is $0.457609, and the cryptocurrency has a market cap of $456,661,043. The average return on investment of REN is +469.99%. The platform has been in use since 2018 and had an initial price of around $0.08, and after about two months, the price of REN dropped to $0.03. In August of 2018, the price had decreased to under $0.02. The year ended with a REN/USD price of $0.02.

By the end of May 2019, the value of the coin had begun to rise significantly, and it reached $0.14 by August of the same year. The year ended with a REN/USD value of $0.03. The Covid-19 pandemic started in 2020, and it dropped the value of the coin to $0.03 in March. The value of the coin would vary between $0.03 and $0.58 for the rest of the year, and it would settle at $0.3212 by the end of 2020.

So far, the highest REN coin price was recorded on 19th February 2021, and this was $1.7294. Since February, the price has been falling steadily, but it has not gone below the introductory price of the coin. At the moment, the coin has a circulating supply of 997,763,051 REN coins, and the maximum supply is 1,000,000,000 REN coins.

By the end of 2021, the price is expected to reach the mark of $0.463899. This value will reach $0.6193 by 2022 if historical trends continue.

Should You Buy REN in 2021?

Cryptocurrencies have become extremely important in the world today. Coins like Bitcoin and Litecoin have attained unimaginable market caps over the past few months. Even when they stabilized, the prices still remained very high. Since Ren REN is used to trade cryptocurrencies, its importance has risen along with other cryptocurrencies.

REN Price Forecast According to Wallet Investor

According to Wallet Investor, REN is an excellent long-term investment that should be held for a minimum of one year. The website notes that the coin has a long-term earning potential of +100.07 in a year. By the end of 2021, the coin will have a minimum price of $1.5 and a maximum price of $1.8. Wallet Investor predicts that the price will rise to $2.74 by the end of 2022 and $4 by the end of 2023. The algorithm predicts that the value of the coin will keep rising until at least 2026, at which point it will have a price of $7.26.

REN Price Forecast According to Digital Coin

Digital Coin has a more conservative prediction for the price of REN. It predicts that the coin will maintain its bullish trend throughout the year, ending 2021 with a value of $1.08. By the end of 2022, the RENUSD price will be $1.26 according to Digital Coin. It will increase to $1.44 by the end of 2023 and will keep rising until at least 2026, at which point it should have a value of $2.5.

REN Price Forecast According to Cryptopolitan

The algorithm at Cryptopolitan predicts that the REN/USD will reach a maximum price of 0.507842 by the end of 2021. The minimum forecast price of the coin at the end of the year is 0.4316658. Analysts on the site forecast that the price may rise more gradually but may hit a price of $3 to $5 within the next few years. As such, REN would still be an excellent investment option.

REN Price Forecast According to Trading Beasts

At Trading Beasts, the price of the Republic Protocol is expected to reach a maximum price of $0.7767832 by the end of 2021. The expected minimum price by the end of the year is $0.5271332. In 2022, Trading Beasts forecasts that the value of the REN will reach a minimum of $0.4648179 and a maximum of $0.6835557. By the end of 2023, the value should rise further to $0.7992732, marking a change of about 38.06%. The algorithm predicts that the price should keep rising in 2024 to a maximum of $1.0308820.

Why Does REN Have Value?

CoinMarketCap has noted that REN is close to the top 100 most valuable cryptocurrencies, and this was achieved in a very short period. The value of the currency has been rising gradually over the years, and this is because cryptocurrency solves a major pain point in the market. It mainly helps major traders move large amounts of Bitcoin and other altcoins without altering the prices of the market. The platform is peer-to-peer, meaning it does not have any regulations.

Where Can I Buy a REN Wallet?

REN produces its own digital wallet, so you will have to download it on its own website. With this wallet, you will be able to buy and store the currency on your device. You can get a dedicated hardware wallet, which you can use to store the currencies securely on your computer. There are also high-security mobile wallets that can be used to store several cryptocurrencies.

Is REN a Good Long-Term Investment?

Yes, most reputable forecasting algorithms predict that the price of the cryptocurrency will keep rising until at least 2026. For the best returns, you should hold the currency for at least a year. Since the market changes every day, you should monitor the REN price prediction every day and adjust your investment decisions accordingly. Also, remember to use risk-management tools to prevent major losses and maximize potential profits.

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