REZ crypto rallies 60% following Coinbase listing, what is REZ?

GRESS CRYPTO increased by 60% after being listed on Coinbase. What is REZ and heads for more potential gains?

According to Coingecko data, Renzo (Ground floor) rallied to an intra -day summit of $ 0.032, more than 145% higher than its lowest point of this year. Altcoin’s market capitalization was based on $ 63 million, while its daily negotiation volume has more than doubled compared to almost $ 281 million.

The GRESS gains have been accompanied by an increase in demand from derivative traders. According to Correglass data, an open interest in its long -term market jumped 92% to a summit of $ 42 million. However, weighted financing rates are more distant from negative territory because most merchants seem to bet on a potential short -term price drop.

Most of the earnings today came after GERS recently obtained a registration on Jamming On the Ethereum network (Token ERC-20). Altcoin has gathered since the exchange announced its list.

On March 5, it increased by more than 41% after Coinbase revealed that it would list Renzo. Since then, the token has rallied more than 82% and reached a monthly summit of $ 0.032 on March 7.

The rally was supported by an increased whale activity, the number of large holders of holders is between 10,000 and 100 million crazy token in the last 24 hours, while the number of daily active addresses on the network has increased in the last 2 days.

Analysts believe GRESS could maintain its bullish trajectory as long as it holds above the key support range from 0.01674 to $ 0.01724.

Technical indicators also have an optimistic perspective for Altcoin, probably supporting more to come.

On the price table at 1 day / USDT, the 92.86% Aro -Up indicator and aroma down to 28.57% confirm high purchase pressure, which indicates a dominant upward trend. The MacD and Signal lines moved upwards, presenting the potential of a bullish reversal, which could lead to more gains in the coming days.

Sales concerns to be forged

However, the rally could suddenly end due to the pressure of the sale. During writing, GRES had lost some of the gains of the last day, but increased by 41.5%.

Some members of the community are concerned During a potential sale by VC Funds and the Renzo team, which currently holds 51.6% of the total supply of Altcoin.

Registration on a major crypto exchange such as Coinbase or Binance generally leads to a significant increase in the price of related assets. However, they tend to cope with an average drop after such lists.

As Crypto.news reported it earlier, after his previous registration On Binance, GRESS fell 43% in one day.

What is Crypto?

Founded in 2023, Renzo, based in the United States, is a revocation protocol that allows users to play a variety of cryptographic assets while offering features such as automatic composition rewards and automated risk management.

GRESS, which serves as a native token and governance, can be enriched by gluttony, allowing holders to obtain various services actively validated and to obtain additional rewards.

In addition to Coinbase, GRES is available on several major cryptography exchanges, notably Binance, Gate.io, Kraken and Kucoin, among others.