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Home News REN price rallies 60%, hitting a new high after recent DeFi integration.-

REN price rallies 60%, hitting a new high after recent DeFi integration.-

Key Concepts (and relevance score)

Summary (IA Generated)

Ren (REN) price underwent a strong 65% breakout on Feb.

19 as the interoperability-focused protocol saw continuing accumulation from whale wallets holding more than 1 million REN.

Data from Cointelegraph Markets and TradingView shows that REN rose from $0.

99 on Feb.

18 to establish a new all-time high of $1.

The move to a new high occurred as REN’s trading volume also reached $704 million over the past 24-hours.

Attention for the protocol received a noticeable uptick at the end of January when it was announced that Dogecoin (DOGE) would be integrated with REN, enabling the trading of renDOGE in the growing DeFi ecosystem.

[.

] 94 on Feb.

15 before it was announced that RenBridge 2 was live and integrated with the Binance Smart Chain.

] VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for REN on Feb.

18, prior to the recent price rise.

] As seen in the chart above, the VORTECS™ score began to increase following the announcement of RenBridge 2 on Feb.

15 and reached a peak of 81 on Feb.

18, shortly before the price of REN began to spike upwards.

The recent integration with BSC has brought renewed attention to REN which was hampered by high transaction costs on the Ethereum network.


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