Panjang
REN is ready to go up
Last week, REN / BTC hit a rough patch after a strong start to the year. REN is used for ‘wrapping’ assets on Ethereum and is pretty popular.
REN is needed to create a ‘darknode’, which wraps BTC, BCH, and ZEC, bringing them to the Ethereum network. Darknodes earn fees and with the wrapped BTC (or other asset) holders have it both ways: they keep their Bitcoins while also interacting with DeFi and earning fees on various platforms.
Over $540 million worth of Bitcoin is now wrapped with REN.
To see if REN’s rally would continue in the short-term, we’ve asked the following question on Cindicator’s Hybrid Intelligence platform:
“The cryptocurrency Ren (REN/BTC) settled at 0.00001839 BTC at 08:03 AM UTC at the binance exchange on Monday, January 25. In your opinion, will REN/BTC trade above 0.00002181 BTC (+18.59%) at any time before February 8?”
Assurance: 74%
So Hybrid Intelligence believes that REN will go up over the next two weeks.
This is not unrealistic given that in BTC terms, REN is still far from its August all-time high or even its October levels.
REN is needed to create a ‘darknode’, which wraps BTC, BCH, and ZEC, bringing them to the Ethereum network. Darknodes earn fees and with the wrapped BTC (or other asset) holders have it both ways: they keep their Bitcoins while also interacting with DeFi and earning fees on various platforms.
Over $540 million worth of Bitcoin is now wrapped with REN.
To see if REN’s rally would continue in the short-term, we’ve asked the following question on Cindicator’s Hybrid Intelligence platform:
“The cryptocurrency Ren (REN/BTC) settled at 0.00001839 BTC at 08:03 AM UTC at the binance exchange on Monday, January 25. In your opinion, will REN/BTC trade above 0.00002181 BTC (+18.59%) at any time before February 8?”
Assurance: 74%
So Hybrid Intelligence believes that REN will go up over the next two weeks.
This is not unrealistic given that in BTC terms, REN is still far from its August all-time high or even its October levels.
Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.