A little-known cryptocurrency, Renzo (REZ), has seen a massive price jump after Coinbase announced it would list the token.
Coinbase Adds Renzo Support
Coinbase, one of the biggest cryptocurrency exchanges in the US, revealed plans to add support for Renzo (REZ), an Ethereum-based liquid restaking token. Trading is expected to begin on March 6th, 2025, provided sufficient liquidity is available. The announcement focused on the REZ-USD trading pair, which will launch in phases.
REZ Price Explodes
The news sent REZ’s price skyrocketing. In just one day, the token went from $0.0170 to a high of $0.0243 – a significant increase. While the price has settled slightly, it’s still up over 20% from its pre-announcement level.
What is Liquid Restasking?
Liquid restaking is a process where users stake their already-staked assets on another platform. This boosts rewards and improves the security and liquidity of the underlying protocol. Renzo simplifies this process, making it more accessible to everyone. Besides Ethereum, Renzo supports other cryptocurrencies like Solana (SOL), Jito (JTO), and EigenLayer (EIGEN) for restaking.
Renzo’s Mission: Easy Restasking
Renzo aims to make restaking simple and user-friendly. Their platform offers tools like ezETH, pzETH, and ezSOL, which act as interfaces to different blockchain ecosystems.
Disclaimer: Investing in cryptocurrencies is risky. Do your own research before investing any money. This information is not financial advice.
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