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Raiden Network Token is on the rise this week.

The price of Raiden Network Token has risen by 21.02% in the past 7 days. The price increased by 0.76% in the last 24 hours. In just the past hour, the price shrunk by 0.09%. The current price is $0.0060 per RDN. Raiden Network Token is 99.93% below the all time high of $8.84.

The current circulating supply is 0 RDN.


What Is Raiden Network Token (RDN)?

Raiden Network token (RDN) is a cryptocurrency belonging to the Raiden project. The Raiden is an open-source project that uses state channel technology to scale Ethereum. The state channel technology is a process that facilitates users to transact outside the blockchain. According to the website, to carry out the process of scaling, Raiden project developed the network known as Raiden Network.

The Raiden Network is an off-chain scaling solution that functions on the Ethereum blockchain and seeks to enable economical, fast, and scalable token transfer for ERC-20 tokens. The term off-chain signifies transactions that take place outside the blockchain. The network also seeks to provide users with security, privacy, finality, and decentralization like blockchains. Thus, aiming to create an ecosystem where users can transfer tokens without a global consensus mechanism while resolving the issues that existed with the Ethereum blockchain. To operate on the network, users and clients have to pay fees for the payment channels to transfer tokens. The payment channels are the technology that facilitates off-chain transfers of on-chain tokens. These fees thus collected by the network are of two types:

  • Protocol Level Fees: These are fees collected by the network to keep payment channels working and are collected in the denomination of the transferred token.

  • Peripheral Fees: These are fees paid for the different services used by the clients on the network and are collected using RDN tokens.

The collection of these fees aims to allow the network to function properly while ensuring proper maintenance of the network. Further, to ensure a proper service framework on the network is maintained, the Raiden project introduced the cryptocurrency, the RDN token. The RDN token is a virtual currency of the Raiden Network and aims to be used for many service-related purposes on the network, which includes:

  • The token is used for making payment of peripheral fees.

  • The token is used to reward users on the network for their contributions to the network, like monitoring services, finding paths with capacity, etc.

  • The token is used for making micropayments, API (Application Programming Interface) access, and other services offered by the network.

These utilities of the RDN token seek to help in maintaining a proper operational structure for the service framework within the Raiden Network.

History of Raiden Network Token (RDN)

The Raiden Network launched its token RDN on October 18, 2017. The token has a maximum total supply of 100,000,000 RDN.

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What is the current price of Raiden Network Token?

We update our Raiden Network Token to USD currency in real-time. Get the live price of Raiden Network Token on Coinbase.

What is the market cap of Raiden Network Token?

The current market cap of Raiden Network Token is $0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Raiden Network Token?

The all-time high of Raiden Network Token is $8.84. This all-time high is highest price paid for Raiden Network Token since it was launched.

What is the 24 hour trading volume of Raiden Network Token?

Over the last 24 hours, the trading volume of Raiden Network Token is $38.34K.

What other assets are similar to Raiden Network Token?

Assets that have a similar market cap to Raiden Network Token include Pepe CEO, Dinosaureggs, IDK, and many others. To see a full list, see our comparable market cap assets.

How many Raiden Network Token are there?

The current circulating supply of Raiden Network Token is 0.

Can I buy Raiden Network Token on Coinbase?

Yes, Raiden Network Token is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy Raiden Network Token guide.