Ren (REN) Cryptocurrency Surging Despite Getting Delisted On Coinbase Exchange
/ REN (REN) cryptocurrency defies delisting on Coinbase with a +40% surge in 24 hours. Stay updated on its remarkable comeback!
By Nilesh Hembade.
Date: 04 Nov 2023, 12:25 PM IST
In a surprising turn of events, Ren (REN), the open protocol aimed at enhancing interoperability and liquidity between various blockchain platforms, has captured the attention of the cryptocurrency market. Despite its recent delisting on Coinbase Exchange, REN’s token price has experienced a remarkable surge of +40% in the past 24 hours.
As of the time of writing, REN is trading at $0.073, demonstrating a robust market capitalization of $72 million.
Coinbase Exchange Delists REN Token:
The unexpected twist in REN’s story came with Coinbase Exchange’s announcement of the delisting of REN token, alongside four other tokens. This decision by Coinbase was made public on November 3, 2023, in the cryptocurrency community.
We have disabled trading for Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), TE-FOOD (TONE). Your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/VoDEnLThHR
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) November 3, 2023
However, what has baffled many is that despite the negative news of its delisting on a major exchange, REN’s price experienced a notable surge within the same timeframe. This surge can be attributed to a significant breakout by REN in the market today.
REN Token’s Breakout:
The primary reason behind the surge in REN’s value seems to be a clear and impactful breakout in the market. REN token broke through the downtrend resistance line today, with the price surpassing the crucial threshold of $0.05278.
This breakout has ignited renewed interest in REN, drawing attention from investors and traders alike.
The cryptocurrency market is known for its dynamic and often unpredictable nature, and REN’s recent performance exemplifies this unpredictability. As the world of digital assets continues to evolve and mature, stories like REN’s serve as a testament to the resilience and determination of blockchain projects and their communities.
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