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

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


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 $1.84 on Feb. 19. The move to a new high occurred as REN’s trading volume also reached $704 million over the past 24-hours.

REN/USDT 4-hour chart. Source: TradingView

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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.

Since that time the REN ecosystem has continued to expand as more top-tier projects like Filecoin (FIL) have undergone the transformation to become renFIL, which is now being considered for addition to the AAVE ecosystem.

Binance Smart Chain integration strengthens REN’s use case

REN was trading at $0.94

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