The largest cryptocurrency exchange in the US, Coinbase, announced the addition of the Reserve Rights (RSR) token to its listing, giving the token new growth opportunities.
Addition of RSR to Coinbase Listing
Reserve Rights (RSR) has been recently added to Coinbase's listing roadmap, marking a significant step for the largest US-based crypto exchange. This addition concerns the version of RSR operating on the Base network, a layer-2 blockchain developed by Coinbase itself.
Features of Reserve Rights and the Base Network
The Reserve Rights project can be described as a DeFi token aiming to overcollateralize stablecoins (RTokens) through staking and governing their structure via proposals and votes. The Base network, developed by Coinbase, forms the backbone for RSR's operations, offering new functionalities and integration opportunities.
Market Dynamics and RSR Prospects
The RSR token, launched prior to 2020, is currently trading 94% below its all-time high. As of now, RSR has a market capitalization of $357 million, with its peak market cap reaching $1.4 billion last April.
The inclusion of Reserve Rights in Coinbase's listing may spark renewed interest in the token, opening up new market opportunities.
