Rage Crypto rose by 60% after being listed on the coinbase. What is Rez, and is it moving towards more possible profit?
According to COINGECKO data, Renzo (REZ) ralled a higher high level of $ 0.032 more than 145% from its lowest point this year. Altcoin’s market cap was seated in $ 63 million, while its daily trading volume exceeded double the previous day.
Rage was the advantage of increase in demand from derivative traders. According to data from Coinglass, open interest in its futures market rose 92% to high levels of all time of $ 42 million. However, weighted funding rates have fallen further into the negative area as most traders bet on potential short -term prices.
Most of today’s benefits were recently achieved by Rage after today Entry Ethereum (ERC-20 token) on the coinbase on the network. The AltCoin is a rally since the exchange.
On 5 March, it exceeded 41% after the coinbase, with the first time it was revealed that it would list the Rainjo. Since then, tokens have held more than 82% rallies and hit the monthly high $ 0.032 on 7 March.
In the last 24 hours, the rally has been supported to increase whale activity with the number of big holders between 10,000 and 100 million token spiking, while the number of daily active addresses on the network has been increasing in the last 2 days.
Analysts faith As long as it stays above the major support limit of $ 0.01674 to $ 0.01724, Rez can maintain its rapid trajectory.
Technical indicators also present a rapid approach to Altcoin, possibly supporting further more benefits.
On the 1-day/USDT price chart, Aroon UP indicators at 92.86% and Aroon at 28.57% confirm the strong purchase pressure, indicating a major uptrend. The MACD and signal lines have moved upwards, which presents a rapid reversal ability, which may lead to more profit in the coming days.
Worrying about selling loom
However, the rally may suddenly end due to sales-side pressure. While writing, the raz had lost some benefits of the previous day, but was 41.5%above.
Some are members of the community Connected Potential selling-closes by VC Funds and Renjo team, which currently conducts 51.6% of the total supply of ultcoin.
The listing on a major crypto exchange such as coinbase or benns usually leads to a significant increase in the price of the respective property. However, they face an average drop after such a listing.
As Crypto.news said earlier, after its previous list on Binance, Rez fell 43% within a day.
What is Raz Crypto?
Established in 2023, the US-based Renjo is a re-running protocol that gives users a share to various types of crypto assets, offering features such as auto-compound rewards and automated risk management.
REZ, which acts as original and governance tokens, can be rested through Eigenlayer, allowing holders to secure various actively valid services and earn additional awards.
In addition to the coinbase, REZ is available on several major crypto exchanges, including binance, gate.io, kraken, and kucoin, others.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
