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↘ Renzo Coin: Garnering Investment and Expectations Amid Market Volatility

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Renzo Coin: Garnering Investment and Expectations Amid Market Volatility
Renzo Protocol, a liquid restaking provider, has gained significant attention in the cryptocurrency sphere. It raised $17M from notable investors such as Galaxy and Brevan Howard capitalizing on the restaking frenzy. Post a Binance listing, Renzo's REZ was impacted by market headwinds and saw a sharp decline. The ezETH also got depegged due to the end of an airdrop farming window. Despite these challenges, Renzo managed to reach $150m volume after its airdrop. Binance, acknowledged the potential of the platform, naming it as the 53rd Launchpool project and allowed staking of BNB and FDUSD to earn REZ. However, the price of REZ faced a setback after the airdrop and Binance listing. Renzo also introduced details about REZ Tokenomics and ezPoints claiming. As a response to community backlash, Renzo took decisive action by adjusting the airdrop. They also raised an additional $3.2M to take liquid restaking mainstream on EigenLayer. Furthermore, Binance Labs invested in EigenLayer, contributing to Renzo's liquid restaking services. Renzo debuted at $289M market cap with REZ's launch. Eventually, it had to navigate a slight market crash on Uniswap.

Renzo Coin News Analytics from Mon, 15 Jan 2024 08:00:00 GMT to Fri, 12 Jul 2024 07:00:00 GMT - Rating -2 - Innovation 6 - Information 5 - Rumor -4

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Renzo Coin - News Analyzed: 1,058