The price of Renzo (REZ) token surged by over 50% within just an hour of the announcement that it would be listed on Coinbase, one of the leading cryptocurrency exchanges. According to CoinMarketCap data, REZ was trading at approximately $0.016 before the listing news broke, but the token quickly jumped 50.87% after Coinbase shared the update on its official X account, confirming that trading for REZ would begin at 9:00 AM PT on March 6.
As of now, REZ is trading at $0.02640, with a market capitalization of $51 million. The token’s trading volume has spiked by 300% in the last 24 hours, reflecting increased investor interest following the announcement.
Renzo is a re-staking protocol that allows users to stake various crypto assets while offering features such as auto-compounding rewards and automated risk strategies. The protocol currently boasts a Total Restake Value exceeding $860 million, with the majority of funds allocated on Ethereum ($785.4 million) and Solana ($74.9 million).
Renzo’s team expressed their excitement over the listing, noting that Coinbase, with over 105 million users, is the most popular exchange in the United States and ranks among the top three globally by volume. However, they cautioned users to only deposit REZ tokens on the Ethereum network, as integrations with other networks have yet to be added. “Be sure to deposit REZ on ETH mainnet ONLY,” the team stated on X.
While Coinbase’s listing marks a significant milestone for REZ, the token is already available on several other well-known exchanges, including Binance, Gate.io, Kraken, and Kucoin.
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