REN prices rise 65% after Catalog launches. It also brings a cross-chain DEX onto its blockchain

Ren, a decentralized finance project like Ren, pumped in 2021. However they finished the year exactly where they started. High fees on Ethereum ( ETH) caused decreased activity for many protocols. DeFi was forced to take a backseat and be replaced by more popular sectors such as nonfungible tokens.

It appears that the downtrend is on the verge of reverse after recent global events have highlighted the benefits DeFi and holding assets beyond the traditional financial system. The REN price rose 69% this week, from $0.247 on February 24 to $0.418 on March 3, a daily low.

REN/USDT 4-hour chart. Source: TradingView

The potential price reversal of REN is due to three factors: the launch of its first Layer-One Application Catalog, VarenX on Polygon, and several new partnerships and integrations with REN and Ren Virtual Machine (RenVM).

Catalog Launches

Catalog, the first application to be built on the Ren blockchain, was the most significant development in the REN project’s recent history.

According to Ren, Catalog is a “Metaversal”, or cross-chain decentralized exchange (DEX), that allows users to swap assets across networks at minimal cost.

Catalog’s liquidity mechanism will tap into both native asset pools and liquidity across third party DEXes. This will allow Ren to support a broad range of projects without worrying too much about liquidity constraints.

Catalog also offers zero fees for gas and low flat-rate trading fees. This allows you to make passive income from crypto stored in your account. You don’t need to participate in liquidity pools or stake in them. Future plans include the possibility to connect a bank account to allow easy withdrawals and deposits.

VarenX launches on Polygon

The integration of VarenX DeFi’s VarenX hub onto the Polygon network was another development that accelerated REN’s momentum.

VarenX has been limited to the Ethereum network. This makes it difficult for VarenX gain traction.

VarenX has been able to offer gasless transactions because of the low fees associated with Polygon. Its “FreeWei” feature fronts gas costs for users and allows them to cross-chain without any charges.

Related: REN price at Risk of 50% Drop after a Bearish Trading Pattern Shows Up

Integrations and partnerships

Ren’s outlook has also been improved by a number of partnerships and integrations, which have strengthened its cross-chain ties.

Ren has partnered with Kava recently to join the Kava Pioneer Program. This will see RenVM deployed on Kava Network Ethereum cochain on March 8.

Notable developments include a partnership between DappBack and Vesta Finance, a renBTC Integration with Vesta Finance, and the listing and exchange of REN on Voyager.

VORTECS(tm), data from Cointelegraph Markets Pro started to detect a bullish outlook on REN on February 25, before the recent price increase.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS™ Score (green) vs. REN price. Source:

Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for REN climbed to the green zone on February 25, and hit a peak of 81 just 56 hours later, before the price rose 35.8% in the following three days.

These views and opinions are the author’s and do not necessarily reflect those of You should do your research before making any investment or trading decision.

Opinion writer on 7trade7