REN Blasts Above $1 Again on Whale Accumulation and Uptick in Usage Leading Up to Surge

Profile picture
brianq
Feb 16, 2021


Ren had been one of the quieter altcoins for much of 2021, as far as major top 100 crypto projects are concerned. Even with prices rising rapidly, it was managing to fall down the market cap ranks as January was coming to a close. But a few metrics foreshadowed that it could push its way above $1.00 for the first time:



1M+ Token Holder Whales

Even though Ren's price was moving up as 2021 kicked off, it was mostly just following the path of other ERC-20 tokens. But right as January ended, the amount of 1m+ addresses spiked, indicating something was brewing.



Daily Active Addresses

The amount of unique addresses interacting on the REN network has climbed steadily. This was particularly true when things really spiked in mid/late January, and throughout the past couple weeks.



Network Growth

The amount of daily new REN addresses has been quite staggering. Particularly over the past 4 weeks.

REN
Profile picture
brianq
Feb 16, 2021

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

0

Assets from this insight

Ren logo

RenREN

$ 1.14

11.14%in last 7d

Conversations (0)