The price of Renzo (REZ) token has pumped over 50% within just an hour after the leading crypto exchange Coinbase announces its upcoming listing.
As per Coinmarketcap data, REZ token was trading near $0.016 prior to the listing announcement while it jumped 50.87% as soon as Coinbase posted on X, noting its trading will begin on 9:00 AM PT on 6 March.
REZ is currently trading at $0.02640 with a market cap of $51 million. Its trading volume has increased 300% in the past 24 hours.
Renzo is a re-staking protocol that enables to stake a wide range of crypto assets while offering features such as auto-compounding rewards and automated risk strategies. It currently has a Total Restake Value of over $860 million on Ethereum ($785.4) and Solana ($74.9M).
“With over 105 million users, Coinbase is by far the most popular exchange in the U.S. and top 3 in the world by volume,” said Renzo team on their official X handle. They also warned users to only deposit REZ tokens on Ethereum network as other network integrations have not been added yet. “Be sure to deposit REZ on ETH mainnet ONLY,” said the team.
Although Coinbase is not the only exchange enabling trading for REZ token as it is available on several popular crypto exchanges already – including Binance, Gate.io, Kraken, Kucoin and others.
Also Read: XRP Price Could Skyrocket to $222, Analyst Predicts
