renBTC (RENBTC) Achieves Market Cap of $17.62 Million

renBTC (RENBTC) traded 8.2% lower against the U.S. dollar during the one day period ending at 7:00 AM Eastern on July 5th. renBTC has a total market capitalization of $17.62 million and $336.99 worth of renBTC was traded on exchanges in the last day. One renBTC token can now be purchased for $53,416.30 or 0.96803328 BTC on popular exchanges. During the last week, renBTC has traded 15.4% lower against the U.S. dollar.

Here is how other cryptocurrencies have performed during the last day:

• KILT Protocol (KILT) traded 5.4% lower against the dollar and now trades at $0.18 or 0.00000326 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 2.7% against the dollar and now trades at $0.0115 or 0.00000021 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

renBTC Profile

renBTC launched on May 26th, 2020. renBTC’s total supply is 330 tokens. The Reddit community for renBTC is https://reddit.com/r/renproject and the currency’s Github account can be viewed here. renBTC’s official website is renproject.io. The official message board for renBTC is medium.com/renproject. renBTC’s official Twitter account is @renprotocol and its Facebook page is accessible here.

According to CryptoCompare, “RenVM implements universal interoperability using the tokenised representation model. However, it introduces several advances that aim to solve many of the technical and economic problems in existing models.

RenVM was created to replace the role of the trusted custodian with a decentralised custodian. This decentralised custodian is implemented using the RZL MPC algorithm, which can generate and manage ECDSA private keys without exposing them (not even to the machines that power RenVM). This improves on WBTC and imBTC by removing the need to trust a centralised custodian.

renBTC (RENBTC) is a one for one representation of BTC on Ethereum via RenVM.”

Buying and Selling renBTC

It is usually not possible to buy alternative cryptocurrencies such as renBTC directly using US dollars. Investors seeking to acquire renBTC should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy renBTC using one of the aforementioned exchanges.

RENBTC/USD price chart by TradingView