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RenQ Finance aims to empower the cross-chain asset exchange in multi-chain DEXs and this vision is pushing the RenQ price higher.
Last updated Aug 20, 2023 at 07:10 PM
Posted Aug 19, 2023 at 07:00 PM
RenQ is a DeFI platform that came on the radar last year and became one of the ambitious projects on the Solana blockchain. Since Solana is known for high scalability, RenQ finance offers high-speed transactions, a seamless and user-friendly experience on the go.
Though is just starting off, it has expanded its ecosystem to multiple projects. Currently, it offers the following DeFi main services:
RenQ Finance: Chain Asset Exchange Network
RenQ FInance Yield Farming Rewards Calculations
RenQ has laid out its plan for Q2 2025 in its whitepaper. The paper suggests that there are more projects coming and the platform can be a good investment. RenQ recently announced a hybrid multi-chain DeFi toolkit:
The cryptocurrency market is already crowded and to make your place in such a market, either the project should offer really cool features and services or spend a lot on extensive marketing to capture the audience.
Luckily in the case of RenQ Finance, it offers features that are capturing people's interest and it is already enjoying good traction. RENQ holders can participate in the governance of the platform by voting on proposals and making suggestions.
Also, RENQ holders can use the token to access various services on the platform, such as AMM, yield farming, lending and borrowing, NFT launches, etc. RENQ holders can earn more RENQ tokens by staking them in various pools or providing liquidity to the AMM protocol.
RENQ token is the native ERC-721 token of RenQ Finance based on the Solana blockchain. The current price of Renq Finance is $0.008557 with a $210,721 24-hour trading volume. On the previous day, Renq Finance decreased by 0.33%.
RenQ crypto Token: RenQ Finance Price
According to RenQ's official website, there are a total of 1,000,000,000 RENQ coins with a market cap of $8.56 million. However, these numbers are self-reported and not verified by any independent source.
It has multiple functions, such as governance, utility, and rewards. The token sale was conducted in five stages from March to May 2023, raising more than $11 million.
RenQ token reached its all-time high of $0.055 in May 2023. In the last three months, the RenQ crypto is -84.35% down from its all time high. On Jul 27, 2023, RenQ finance price touched the bottom however it recovered more than 23% from that level.
RenQ Finance Price data
To get a better understanding of RenQ crypto ROI, you can look at its historical data and take your investment decisions accordingly. RenQ stands at a very critical position where it can become a part of 1000s of other projects or mature its projects and services like multi-chain dex, RenQ wallet, and DeFi.
The potential growth of RenQ's governance token also depends on its utilities and use cases in the current and upcoming projects, market conditions, and market sentiment.
It is really hard to predict the RenQ finance price as the RenQ finance price prediction for 2023 depends on the overall crypto market direction and the role being played by the team behind the project. RenQ Finance's price and its market cap both depend more on the project's fundamentals than the technical analysis.
To predict the price of RenQ Finance, we have discussed the fundamentals like current price, trading volume, Decentralized finance projects, and other factors to predict the price. Though most of these factors favor the RenQ finance upward move, we should also look at the technical side of the token.
RenQ Finance Crypto Price Prediction
Since the RenQ Finance presale, the price of the token has been declining consistently. That, as an investor, is a concern and makes us wonder if the RenQ price is going to increase and if it is a good investment.
The current support level for Finance RenQ token is at $0.0065. According to the Fib retracement at the 6-hour chart, if the token rebounds from this level and overcomes market sell-off pressure, it could reach a high of $0.025 by the end of this year.
If you want to buy RENQ Finance crypto token, you can do so from various exchanges or swap other tokens for it using the AMM protocol on RenQ Finance platform. The top cryptocurrency exchanges for trading in Renq Finance crypto are currently LBank, BitMart, MEXC, and Coinstore.
RenQ Finance is a decentralized finance platform offering a range of products and services, such as automated market maker (AMM), yield farming, lending and borrowing, NFT launches, and more. It operates on the Solana blockchain and utilizes the zkSync Layer 2 scaling solution.