Ren (REN) More Explosive Growth 2021
The REN project is another fundamentally sound DeFi project that is poised for major growth in 2021. A decentralized protocol that allows for users to transfer cryptocurrencies from one blockchain ecosystem to another. This project already has major utility being used on a daily basis and will only continue to grow with the growth of DeFi and the overall cryptocurrency market.
Currently the USD pairing is in price discovery and trading at all time highs. However, REN still has yet to hit a new price discovery against its Bitcoin pairing. This indicates that REN still has a lot more room to grow.
Another factor to consider is that REN currently has a circulating supply of 995,363,051 REN and only a max supply of 1,000,000,000 REN. REN is getting closer to reaching it's max supply which will also play a role in price increase this year. Also the according to the analytics firm Santiment has recently reported that whale accumulation for REN skyrocketed in Januarys which also indicates the increasing demand for REN.
Our next stop for REN is at Fibonacci level 0.5 at 2925 Satoshi. Once we fully break past the 0.382 expect a runup to test 2925 Satoshi. Keep REN on your radar this year for 2021. As always much peace and love!
Currently the USD pairing is in price discovery and trading at all time highs. However, REN still has yet to hit a new price discovery against its Bitcoin pairing. This indicates that REN still has a lot more room to grow.
Another factor to consider is that REN currently has a circulating supply of 995,363,051 REN and only a max supply of 1,000,000,000 REN. REN is getting closer to reaching it's max supply which will also play a role in price increase this year. Also the according to the analytics firm Santiment has recently reported that whale accumulation for REN skyrocketed in Januarys which also indicates the increasing demand for REN.
Our next stop for REN is at Fibonacci level 0.5 at 2925 Satoshi. Once we fully break past the 0.382 expect a runup to test 2925 Satoshi. Keep REN on your radar this year for 2021. As always much peace and love!
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Ren & Other Whale Accumulation: dailyhodl.com/2021/0...tics-firm-santiment/