Wednesday, December 7, 2022

REN price gains 65% after Catalog launch brings a cross-chain DEX to its blockchain By Cointelegraph

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Decentralized finance projects like Ren pumped in 2021, only to finish the year right back where they started as high fees on (ETH) led to decreased activity for many protocols and DeFi took a backseat to more popular sectors like nonfungible tokens (NFTs).

Now, it appears as though that downtrend is in the process of reversing course after recent global events highlighted the benefits of DeFi and holding assets outside the traditional financial system. This week REN price climbed 69% from a low of $0.247 on Feb. 24 to a daily high of $0.418 on March 3.

REN/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. REN price. Source: Cointelegraph Markets Pro