Why is Reserve Rights (RSR) crypto gaining attention?

June 21, 2022 06:43 AM PDT | By Rupam Roy

Why is Reserve Rights (RSR) crypto gaining attention? — Image source: © Kviztln | Megapixl.com

What is Reserve Rights (RSR) crypto?

Reserve Rights creates decentralized digital payment solutions, including robust collateral backing for crypto transactions.

It aims to provide a reliable financial system in regions with poor banking infrastructure and hyperinflation. The Reserve protocol interacts with RSV and RSR tokens and a portfolio of tokenized real-world assets held by smart contracts to back RSV.

RSR token is an ERC-20 token that serves two primary functions: to ensure adequate Reserve stablecoins through staking and govern them via proposing and voting on changes.

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The RSR token holders can decide to stake on any Reserve stablecoins or divide their RSR tokens through staking on multiple Reserve stablecoins. The RSR token was launched in 2019 after an initial exchange offering (IEO) on the Huobi Prime platform. The token is available for trading on several crypto exchanges like Binance, Huobi Global, OKEx, etc.

The Reserve protocol was founded by Nevin Freeman and Matt Elder.

The Reserve protocol’s RSR update went live on June 18. As of June 17, the protocol had 636,764 Reserve App users who use RSV-backed stablecoins.

It also announced the launch of its Discord server on June 8. Reserve said its ecosystem would soon be managed by the entire community, not just the core team.

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Reserve Rights (RSR) crypto price and performance Data Source: CoinMarketCap.com

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Bottom line:

The RSR token was priced at US$0.00873 at 8:29 am ET on June 21, up 30.25%, while its volume for the trailing 24 hours skyrocketed 260.71% to US$130.92 million. It has a market cap of US$129.17 million, and its fully-diluted market cap is over US$872.76 million.

The token has a maximum and total supply of 100 billion, and its current circulating supply is around 14.80 billion. It returned gains of 31.07% in the last seven days while increasing 93.92% in the last 30 days.

The RSR crypto saw the highest price of US$0.01189 and the lowest price of US$0.004691 in the last 30 days.

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