Cryptocurrency investment analysts using @ lookonchain on Twitter shared their analysis conclusions about the recent surge in the price of Ren Protocol (Ren) and the situation of tokens.
The secret blockchain researcher @ lookonchain shared the reason behind the shocking 40% increase in the price of the Ren protocol (Ren) on Twitter. In less than three hours, the tokens of key spot exchanges jumped from US $0.1 to almost US $0.14.
Therefore, Ren Protocol's Ren performs best among the top 150 properties in CoinMarketCap. The investment analyst believes that the rumor that Binance, the largest cryptocurrency ecosystem, is likely to acquire Ren Protocol (Ren) is the key fuse of this trend.
Its followers shared a video with Kyros Labs, Binance Ventures, BNB Chain and Alameda Research on November 24, 2022, which verified the Binance acquisition theory.
As of the printing time, REN's price is being adjusted: on the key spot trading platform, REN changed hands at 0.1273 dollars, increasing by 25% within 24 hours.
Ren protocol (Ren) is one of the earlier DeFi protocols in Web3. It was released in 2017 as a United Nations agreement. The Ren protocol (Ren) opens up many important definitions of Web3, including "dark pool" and B2B liquidity solutions.
As mentioned above, the elite team of Ren Agreement (Ren) has already shared a statement, telling customers that with the bankruptcy of Alameda Research, it has only enough capital to operate for five weeks.
Alameda acquired the Ren Agreement (Ren) in 2021.
In order to save the development trend, Ren's technical engineer announced an additional round of equity financing, and then decided to decentralize the processing steps and promote them by the community.