Ren (REN) Ren Protocol enables users to transfer assets betwe | Crypto Great | Bitcoin | DeFi

Ren (REN)

Ren Protocol enables users to transfer assets between blockchains without relying on centralized entities.

Last month, the Ren protocol surpassed $10 billion in volume in just under two years. This is a healthy indicator of usage growth on the protocol despite market volatility. It’s what gives us conviction to continue holding Ren for crypto’s next bull cycle.

Impressively, Ren Protocol achieved this colossal sum from just seven supported assets. Once host-to-host (H2H) assets launch on the Ren protocol, we project volume will surge even higher. As we wrote in our January issue, H2H is a new feature that allows Ren to support and bridge almost any asset on any blockchain.

This will allow users to bridge assets between host chains without having to release them first, and will lower both transfer time and fees for users.

RenBridge is even safer now with URL persistence and transaction history, to mitigate orders getting lost in transit. A persistent URL is an address online that causes a redirection to another web resource. Last year we saw a record $14 billion in crypto assets stolen, and with its increased focus on security we expect users to flock to Ren.

Additionally, if you used Renbridge anytime before March 1 you’re eligible to receive 50 million $CAT tokens in your metaversal accounts on Catalog.

In last month’s issue we explained why Catalog could become one of crypto’s biggest spot exchanges.

The first quarter of 2022 has been busy for Ren. As the team continues to build and release products, usage will follow and the price will rise as crypto enters its next bull cycle.