Binance Announces Listing for RenBTC

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Crypto currency exchange Binance has announced that it will list RenBTC. Having already had a good week after the Binance announcement, renBTC gained momentum.

Binance, one of the largest crypto money exchanges in the world, announced that it will list the renBTC (RENBTC) coin with a statement published on its official site. It has been announced that Binance users can trade on RENBTC / BTC and RENBTC / ETH pairs.

RenBTC, whose market value is approaching $ 300 million, is the 54th most valuable crypto currency. RENBTC price, which had a record refresh just 3 days ago, has increased by over 13% in the last 7 days. With the effect of the Binance announcement, the RENBTC price has increased by 4% in the last 24 hours. The price of RENBTC is currently around 15 thousand 720 dollars, according to Etherescan data.

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What is RenBTC?

RenBTC, an Ethereum-based token, is a cryptocurrency designed in such a way that the price can be pegged to 1 BTC; In summary, the purpose of renBTC is to make Bitcoin usable in the Ethereum network. The Rhine platform behind RENBTC is an open network that makes it possible to transfer value between blockchains without the need for permission. Ren’s main product, RenVM, aims to bring interoperability to the decentralized finance (DeFi) sector.

According to Coingecko data, the volume of transactions made in one day for renBTC, whose market dominance is 0.07%, corresponds to $ 5.6 million. The supply of renBTC in circulation is 19,204 and is at its maximum. The all-time high of $ 15,991 was reached on November 6, 2020 for RenBTC, which has shown a very strong performance recently.

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Ren, which started its market life in June, has valued about 75% since then. RenBTC, currently listed on Curve Finance, 1inch Exchange, Uniswap, Huobi Global, Kyber Network, Loopring Exchange and Balancer platforms, except for Binance; It is traded on approximately 20 parities in the market.


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