Republic Protocol: Decentralized Dark Pools / Nodes
Republic Protocol was recently added to Binance exchange and is currently sitting at a 12 million dollar market capitalization.
Republic Protocol is an open-source protocol powering dark pool exchanges. REN is a utility token that provides fuel and security to the engine.
Dark pools are currently a missing infrastructure component in the crypto ecosystem and exist for the purpose of facilitating large volume trades for institutional investors that would otherwise influence market conditions if displayed on book.
As a protocol, anyone will be able to build dark pool based exchanges or integrate dark pools into their current exchange infrastructure once the Republic Protocol team releases their sdk.
Speculation:
Republic Protocol was added to Binance during peak bear market and at a very low valuation. The main net will enter a public phase in January, allowing anyone to run a node. The token exists for this purpose. Anyone holding 100k Ren reserves the right to deploy one of these nodes.
The current supply is around 600mm ren, with the rest of the tokens being locked by a long vesting period to ensure the team works towards the future. At an adjusted market cap based on the circulating supply, ren is actually sitting at a 7.5mm usd valuation.
The Republic Protocol team also announced RenVM, which will allow people to use the ren network for private compute operations.
When the public is allowed to launch Ren nodes, this will constrain the supply and increase demand for the token, leading to a potential appreciation in price.
TA:
Only limited history is available on binance, but Ren is currently sitting around ATLs usd wise.
BTC wise, Ren has just broken this falling wedge structure to the upside and is pushing into a zone of resistance. However, the volume oscillator on the bottom of the chart indicates a shift of power from bears to bulls, signalling a potential ability for the technical pattern to play out.
DYOR as always, but I believe Ren to be a solid long term play and at least a potential short term flip based on public main net launch in January and the TA presented and the TA that is not able to be displayed on Tradingview.
Other infrastructure based protocols such as ZRX are currently trading at 100mm+ valuations, and Ren has some of the most actively developed GitHubs in all of crypto.
Republic Protocol is an open-source protocol powering dark pool exchanges. REN is a utility token that provides fuel and security to the engine.
Dark pools are currently a missing infrastructure component in the crypto ecosystem and exist for the purpose of facilitating large volume trades for institutional investors that would otherwise influence market conditions if displayed on book.
As a protocol, anyone will be able to build dark pool based exchanges or integrate dark pools into their current exchange infrastructure once the Republic Protocol team releases their sdk.
Speculation:
Republic Protocol was added to Binance during peak bear market and at a very low valuation. The main net will enter a public phase in January, allowing anyone to run a node. The token exists for this purpose. Anyone holding 100k Ren reserves the right to deploy one of these nodes.
The current supply is around 600mm ren, with the rest of the tokens being locked by a long vesting period to ensure the team works towards the future. At an adjusted market cap based on the circulating supply, ren is actually sitting at a 7.5mm usd valuation.
The Republic Protocol team also announced RenVM, which will allow people to use the ren network for private compute operations.
When the public is allowed to launch Ren nodes, this will constrain the supply and increase demand for the token, leading to a potential appreciation in price.
TA:
Only limited history is available on binance, but Ren is currently sitting around ATLs usd wise.
BTC wise, Ren has just broken this falling wedge structure to the upside and is pushing into a zone of resistance. However, the volume oscillator on the bottom of the chart indicates a shift of power from bears to bulls, signalling a potential ability for the technical pattern to play out.
DYOR as always, but I believe Ren to be a solid long term play and at least a potential short term flip based on public main net launch in January and the TA presented and the TA that is not able to be displayed on Tradingview.
Other infrastructure based protocols such as ZRX are currently trading at 100mm+ valuations, and Ren has some of the most actively developed GitHubs in all of crypto.
Dagangan aktif:
Update: consolidating in triangle after wedge break to the upside... still below resistance.
Update: consolidating in triangle after wedge break to the upside... still below resistance.
Dagangan aktif:
Dagangan aktif:
Dagangan aktif:
Dagangan aktif:
Price has broken upwards through the downward channel and local resistance block.
Price is almost moving over the 200 ma/ema average.
Price has broken upwards through the downward channel and local resistance block.
Price is almost moving over the 200 ma/ema average.
Dagangan aktif:
Next resistance block hit... new strong support at 550 or so
Next resistance block hit... new strong support at 550 or so
Dagangan aktif:
Ren looks to be consolidating below the resistance block... maybe a flag formation?
Short-medium term price action seems bullish.
Ren looks to be consolidating below the resistance block... maybe a flag formation?
Short-medium term price action seems bullish.
Dagangan aktif:
Dagangan aktif:
Currently sitting on 200/50 MAs on H1. Structure is bullish. Expecting a bounce from this region.
Currently sitting on 200/50 MAs on H1. Structure is bullish. Expecting a bounce from this region.
Dagangan aktif:
Strong support at 550
Strong support at 550
Dagangan aktif:
Support tested, resistance tested.
Looks range bound for the time being. Looking for a break up or down here.
Break up would test the 660 area again... likely more. Break down would test 500 or so.
Support tested, resistance tested.
Looks range bound for the time being. Looking for a break up or down here.
Break up would test the 660 area again... likely more. Break down would test 500 or so.
Dagangan aktif:
Support has broken down. Watching 500 area (next support zone). If this breaks down, we could test 470-480
Support has broken down. Watching 500 area (next support zone). If this breaks down, we could test 470-480
Dagangan aktif:
Possibility
Possibility
Dagangan aktif:
Watching 550 zone for support again. We have broken back up.
Watching 550 zone for support again. We have broken back up.
Dagangan aktif:
Sitting right against resistance
Sitting right against resistance
Dagangan aktif:
Broken out vs USD
Komen:
Dagangan aktif:
Breaking out vs. BTC now too... not much volume. Need volume for confirmation
Breaking out vs. BTC now too... not much volume. Need volume for confirmation
Dagangan aktif:
Why you wait for volume confirmation... breakout rejected... looking at 550 as strong support.
Why you wait for volume confirmation... breakout rejected... looking at 550 as strong support.
Dagangan aktif:
Going for it again... still needs volume for confirmation or it will be rejected like last time
Going for it again... still needs volume for confirmation or it will be rejected like last time
Dagangan aktif:
Finally looks like a clean break / retest. I believe nodes will be open to the public on Jan 7, so timing makes sense.
Finally looks like a clean break / retest. I believe nodes will be open to the public on Jan 7, so timing makes sense.
Dagangan aktif:
Solid confirmation. Still range bound. Looking for a break up through this resistance block
Solid confirmation. Still range bound. Looking for a break up through this resistance block
Dagangan aktif:
USD chart break out maintained. Still need to crack second wedge resistance line
USD chart break out maintained. Still need to crack second wedge resistance line
Dagangan aktif:
Dagangan aktif:
Throwback in progress. I would suspect we test 470 sat or so
Throwback in progress. I would suspect we test 470 sat or so
Dagangan aktif:
Target of 470-480 still in play
Target of 470-480 still in play
Dagangan aktif:
Dagangan aktif:
Breaking out vs USD
Breaking out vs BTC
Breaking out vs USD
Breaking out vs BTC
Dagangan aktif:
Potential bull pennant
Potential bull pennant
Dagangan aktif:
False breakout... broke back down into wedge structure
False breakout... broke back down into wedge structure
Dagangan aktif:
And another one... let's see if it's the real deal
And another one... let's see if it's the real deal
Dagangan aktif:
Another failure. Looking like we will retest the bottom of the wedge after 2 failed attempts to break up
Another failure. Looking like we will retest the bottom of the wedge after 2 failed attempts to break up
Dagangan aktif:
Structure has clearly broken down. Looking at 430s as next buy zone
Structure has clearly broken down. Looking at 430s as next buy zone
Ren sitting on potential support at 1D 200ma (all time chart)
Further / stronger support located at 450 or so sat.