Ren (REN) price underwent a strong 65% breakout on February.19 equally the interoperability-focused protocol saw continuing accumulation from whale wallets holding more than 1 one thousand thousand REN.

Data from Cointelegraph Markets and TradingView shows that REN rose from $0.99 on Feb. 18 to institute a new all-time loftier of $i.84 on Feb. 19. The move to a new loftier occurred as REN'southward trading book also reached $704 meg over the past 24-hours.

REN/USDT four-hour chart. Source: TradingView

Attention for the protocol received a noticeable uptick at the end of Jan when information technology was announced that Dogecoin (DOGE) would be integrated with REN, enabling the trading of renDOGE in the growing DeFi ecosystem.

Since that time the REN ecosystem has continued to expand every bit more top-tier projects similar Filecoin (FIL) accept undergone the transformation to get renFIL, which is now beingness considered for addition to the AAVE ecosystem.

Binance Smart Chain integration strengthens REN'southward utilize case

REN was trading at $0.94 on Feb. fifteen before information technology was announced that RenBridge 2 was live and integrated with the Binance Smart Concatenation. Since that time, the trading volume has steadily increased as well as the full value locked on the RenVM.

Total value locked on REN. Source: Defi Llama

VORTECS™ data from Cointelegraph Markets Pro began to find a bullish outlook for REN on Feb. 18, prior to the contempo price rise.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and electric current market conditions derived from a combination of data points including market sentiment, trading volume, contempo price movements and Twitter activity.

Cointelegraph Markets Pro - VORTECS™ Score (green) vs. REN price

Equally seen in the chart above, the VORTECS™ score began to increment following the announcement of RenBridge 2 on February. 15 and reached a peak of 81 on Feb. eighteen, presently before the price of REN began to spike upwards.

The recent integration with BSC has brought renewed attention to REN which was hampered by loftier transaction costs on the Ethereum network.

With decentralized finance heating upwards, interoperability between blockchain networks is becoming essential for a well-functioning market place and REN is emerging as a key piece in cantankerous-chain interaction.