Resolv Protocol, a decentralized stablecoin ecosystem, announced its commitment to support the market by repurchasing 1.6 million RESOLV tokens.
Resolv Protocol's Response to Token Sale Rumors
In a statement on June 27, Tim Shekikhachev, customer success manager at Resolv, confirmed that the protocol’s foundation had not sold any tokens during the recent downturn. 'At current levels, we are strong buyers,' he wrote, confirming a $240,000 buyback at around $0.15 per token.
Trading Dynamics of RESOLV Token
At press time, the RESOLV token is trading at $0.1497, down 11% in the past day and 23% over the past week. Its market cap has fallen to $21.09 million, a 33% drop from its all-time high of $31.4 million reached on June 23.
Growth and Future Plans of Resolv Protocol
Launched on Ethereum and Bitcoin, Resolv recently introduced its governance and rewards token. The protocol also manages USR, a dollar-pegged stablecoin. Recent initiatives include deeper integrations with partners like ether.fi and P2P Validator. Despite market turmoil, the team remains focused on long-term value creation through product expansion.
Thus, Resolv Protocol showcases an active stance amid market instability, reaffirming its intentions for ecosystem growth and token buybacks.
