renBTC (RENBTC)
renBTC (RENBTC)
93841 3.08 %
Rank # 1206 500+ Watchlist
Low High
24H Range
Market Cap
24 Hour Trading Vol
Fully Diluted Valuation 906.03 B
Circulating 304.00
Total Supply 304.50
Max Supply 304.50
  • Ethereum ethereum-0xeb4c2781e4eba804ce9a9803c67d0893436bb27d
  • Ethereum sora-0x00438aac3a91cc6cee0c8d2f14e4bf7ec4512ca708b180cc0fda47b0eb1ad538
  Week Month Year All Time
High

05-12-2024

99774
-5.95%

05-12-2024

99774
-5.95%

05-12-2024

99774
-5.95%

05-12-2024

₹5,730,800.59
-5.54%
Low

11-12-2024

93841
0.00%

17-11-2024

4638.7743113312
1,922.97%

21-01-2024

2235.69
4,097.41%

21-01-2024

₹5,628.29
4,115.60%

RenBTC News (Renbtc News)

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

RenBTC Chart (Renbtc Chart)

RenBTC Price USD (Renbtc Price USD)

Sr. Exchange Pair Price Spread Volume Volume% Confidence Last Traded Trust Score
RenBTC Price History (Renbtc Price History)
Price Market Cap Volume Date
Coin renBTC
Comments
RenBTC Price Today (Renbtc Price Today)

RenBTC is a Bitcoin-backed ERC-20 token built on the Ethereum network. This means that each RENBTC can always be exchanged for one Bitcoin. As a result, the value of RENBTC tends to stay close to the value of Bitcoin on the market.

RenBTC is made on the Ren platform, which is an open protocol that gives everyone access to the inter-blockchain liquidity. This makes it possible for Ethereum decentralised applications to use assets from other blockchains (DApps). Bitcoin (BTC), Bitcoin Cash (BCH), and Zcash are the main ones that can be used (ZEC).

Wrapped Bitcoin's main competitor is the renBTC token (wBTC). Users send their BTC to RenVM, which then secures the asset and creates an equal number of renBTC tokens on Ethereum. This is a simple way to mint the token.

Unlike other Bitcoin-backed tokens, renBTC is not a synthetic token, and it doesn't rely on any liquidation mechanisms to stay tied to the value of BTC. Instead, it has a direct supply peg, which means there are always enough BTC in reserve to cover the amount of renBTC in circulation.

It's just as easy to spend renBTC as it was to make it. The user only needs to send their renBTC back to RenVM (and pay a small gas fee) and the native Bitcoin will be sent to their address. The renBTC tokens are destroyed, which lowers the number of tokens in circulation to match the lower reserves.

To know more about the RenBTC price prediction, install the top cryptocurrency app CoinGabbar today!

Also read: RENA Finance Rena Price USD
Frequently Asked Questions (Crypto FAQs)
The current price of renBTC (RENBTC) is USD 93841
24 Hours, High Price of renBTC (RENBTC) is USD 94676 and Low price of renBTC (RENBTC) is USD 87321
The total supply of renBTC (RENBTC) is 304.49918869 and Circulating supply of renBTC (RENBTC) is 304.00
The trading volume of renBTC (RENBTC) is 3591567 In the last 24 hours