REN Coin Crypto Fires, Here's Its Performance Today June 4 2024

Todaysgist.com, Jakarta Ren Coin Crypto is an open network protocol built to provide interoperability and liquidity between various blockchain platforms.

REN Previously known as Republic Protocol, Ren launched RenVM, its mainnet virtual machine, in May 2020, after completing an initial coin offering (ICO) worth USD 4 million or around IDR 59.2 billion in 2018. REN's utility crypto token is called REN Coin

In trading Tuesday (4/6/2024) REN Coin recorded quite poor performance. Based on data from Coinmarketcap, the price of REN Coin is IDR 1,147 with a 24-hour trading volume of around IDR 194.9 billion. REN Coin must have weakened 2.07 percent in the last 24 hours.

Meanwhile, the current Coinmarketcap ranking is 541. REN Coin has a market capitalization of around IDR 1.14 trillion. To date, there has been a circulating supply of 999 million REN Coins out of a maximum supply of 1 billion REN Coins.

The protocol's native token, REN, REN Coin serves as a bond for the nodes running RenVM power, known as Darknodes. Ren aims to expand the interoperability and accessibility of decentralized finance (DeFi) by removing the barriers involved in liquidity between blockchains.

Who is the Founder of Ren?

Ren was founded by Taiyang Zhang, in 2017. Originally called Republic Protocol, Ren was first announced in January 2018, with Zhang describing its initial use case as a “decentralized dark pool”.

Zhang himself has experience in the cryptocurrency field because he co-founded the crypto investment manager, Virgil Capital. Previously, Zhang founded Neucode, a startup in software and web development, in 2014. Jaz Gulati, co-founder of Neucode, now works as a software developer for Ren.

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