Renzo Protocol, the creator of
REZ Coin, experienced a strong debut, reaching an astounding $289M market cap immediately following its airdrop. Despite this promising start, the
REZ coin experienced headwinds after being listed on Binance, resulting in a sharp 35% plummet in value. Binance, however, continued to back Renzo, incorporating it as their 53rd Launchpool project and wanting users to farm REZ tokens, rewarding those staking BNB or FDUSD. Cryptocurrency listings and delistings from May and April 2024 included Renzo Protocol, and the coin was identified as one of four notable new cryptocurrencies to consider investing in.
Renzo capitalized on the restaking frenzy, raising $17M from Galaxy and Brevan Howard. The protocol faced criticisms from the community but made an attempt to address these with airdrop adjustments and token stabilization initiatives. Despite an incident of restaked ETH briefly crashing on Uniswap, Renzo managed to raise another $17M across two funding rounds. However, there was a significant plunge of 43% following the end of airdrop farming. Yet, major changes are still to come as there's talk of Binance's potential distribution plan for Renzo's governance token REZ.
REZ Coin News Analytics from Tue, 30 Mar 2004 08:00:00 GMT to Tue, 03 Sep 2024 11:20:50 GMT -
Rating -1
- Innovation 3
- Information 5
- Rumor 2
