Ren Price Prediction 2022-2030 - Invest or Not?

1. What is Ren?
2. Ren Coin Price History
3. What Key Factors Can Influence the Ren Coin Price?
4. Ren Coin Price Prediction for 2022, 2023, 2025, 2030
5. Conclusion

The popularity of crypto trading has increased significantly in recent years. When Bitcoin was introduced, the trading was carried out among enthusiasts with no intention of having profit. Back then, any kind of trade was either an exchange for services or just people excited about the new virtual currency that appeared on the market.

As Bitcoin's popularity grew, more and more cryptocurrencies began to appear on the market, and people started to think of was to profit from them. When the crypto exchanges began to appear, people realized that cryptocurrencies could be traded and invested for profit, slimier to forex trading.

While the general idea is identical, the actual process is quite different. Stocks are tied with companies, and the company's success can drive the prices up or down. With cryptocurrencies, things are quite different, and I'll get to that in a minute.

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Investors are constantly looking for an excellent opportunity for long-term investment, and Ren is the crypto people often ask about. If you're one of those that are looking to invest in Ren but don't know if it's a good option, keep reading. In today's price prediction, I'll outline what it is, look at the price history and dive into the price prediction.

What is Ren?

Ren is short for Republic Protocol, a platform that enables users to move crypto assets to other blockchain networks using smart contracts. The advantage of this is that it eliminates the risk of unwrapping or wrapping the tokens.

The Ren network is run by DarkNodes, which act as the maintainers of the network. To be eligible for the node function, you need to lock a certain amount of cryptos in a smart contract on the network. For converting one asset to another on the Ren platform, there are the RenBridges. Virtual machines carry out the conversion as they lock the tokens that the user wants to be converted and generate new coins with the same value. The original coins are kept in storage until the user requests them.

Ren Coin Price History

Not many cryptos have had a steady price change over the years. While Ren has only been around since the begging of 2018, with the expectation of the previous few months, the graph shows it is pretty flat. It is not unheard of in the world of cryptocurrencies, but as they are pretty volatile, it is a rare occurrence. Keep in mind that the price did have a lot of fluctuations, but not as big as with some of the other cryptos I've looked at in the past.

Near the end of February 2018, Ren made its first appearance on crypto exchanges (Coinbase, Binance, Huobi Global, FTX) at a price of around $0.08. The price dropped by over a half in less than two months and reached $0.03 before it began its incline. Over the course of the next month, Ren's price passed $0.12 and started plummeting down below the $0.02 mark by the end of August. From that point, the price took a slight increase and reached $0.04 at the beginning of November and started dropping. Ren ended 2018 with a price of $0.02.

The first half of 2019 was more or less uneventful. There were some ups and downs, but nothing too major. At the end of May, the price began to increase, and by August, it had reached $0.14. In about a month, it managed to drop to $0.03, and despite the few spikes and drops, it managed to end 2019 with the same value.

2020 was a different story. In the first few months, we saw a slight price increase, which seemed promising. In the second half of March, the global pandemic hit, and Ren wasn't immune to the price drop that all other cryptocurrencies saw. It went from $0.08 to $0.03 in about two weeks. The following few months the price was gradually climbing, similarly to the previous year. At the beginning of September, Ren passed the $0.05 mark and started plummeting towards the previous price. It reached $0.1 and began its increase at the end of September as it neared the end of 2020, where it passed $0.3.

As 2020 was coming to an end, and 2021 was beginning, Ren started its usual yearly increase, and by February, it hit $1.72, which was the highest it has ever been. From that point, it took a nosedive and dropped to a little over $1 before another spike of $1.34 in mid-March. That's when the price began to fall again, and today the value is $1.25.

What Key Factors Can Influence the Ren Coin Price?

Like many other cryptocurrencies, the Ren coin price depends on the platform usage and how much the coin is traded.

The Republic Protocol is a type of network that can offer quite a lot of benefits, as you can convert one token into another with ease. Despite providing tons of advantages, it is still not a technology that is used as widely as most of us would like to see it. As the network improves and introduces new conversion pairs, I believe that it will increase the popularity, which will lead to an increase in price.

Next up is trading popularity. This is something that isn't linked with the network but the actual trading. It doesn't matter if the platform is worth something to someone or not; as long as the coin gets traded, it can keep the price afloat. With that said, if the trading volume sees an increase, you should expect the price to go up as well.

Finally, there are the crypto regulations. This aspect is still not implemented, so no one can say which way it will move the prices. It boils down to the type of regulations; some of them can move the price up, while others may bring it down.

Ren Coin Price Prediction for 2022, 2023, 2025, 2030

Ren coin is in for a decent price increase over the next decade. Looking at how the price moved in the previous years, I expect it to jump significantly.

Following the yearly trend, the price should pass $0.6 around the middle of this year and reach around $0.9 by the end of it. As the rising trend isn't linear, the first half of 2023 should break the $1 mark and go back below it in the following month or so. Right around the end of the year, Ren should reach or even pass $1.6. 2024 is deemed to have a similar story as the previous years, and Ren is supposed to start breaking the $2 mark sometime that year.

Don't expect a huge jump in 2025, as sooner or later, the price is destined to have a drop, and it should either be in 2024 or 2025. Despite that, it should remain around the $2 to $3.3 range.

2030 is slightly difficult to predict, as by then, a lot of things will be different. The price will be higher than 2025 for sure, but the problem is that no one can determine by how much. A rough estimate is that it should be around $6 to $8.

Conclusion

Price predictions are not easy to make. Considering the volatility of cryptocurrencies, it can be challenging to determine a price in the near future.

Despite that, Ren is a coin that should see a decent increase in the next 9 to 10 years. One important thing to point out is that these predictions are not 100% accurate.