An Ethereum (ETH)-based liquid staking token is hovering in value after the highest US-based crypto alternate platform Coinbase introduced help for the altcoin.
In a brand new thread, Coinbase says it’s including help for liquid staking protocol Renzo (REZ), a venture that goals to streamline the method of staking Ethereum and different digital belongings.
“Coinbase will add help for Renzo (REZ) on the Ethereum (ERC-20 token) community… Buying and selling will start on or after 9AM PT on 6 March, 2025, if liquidity circumstances are met. As soon as adequate provide of this asset is established buying and selling on our REZ-USD buying and selling pair will launch in phases.”
Information of the addition despatched REZ flying, because the digital asset went from a low of $0.0170 on March fifth to a peak of $0.0243 only a day later. REZ has since stabilized in value and is buying and selling for $0.0204 at time of writing, a 20.5% acquire on the day.
Liquid restaking is when merchants use digital belongings they’re already staked and additional stake them on a special platform, enhancing their earned reward in addition to the protocol’s safety and liquidity.
Different notable digital belongings obtainable for restaking through the protocol embrace Solana (SOL), Jito (JTO), and EigenLayer (EIGEN), in response to the venture’s official webpage.
“Renzo is a restaking protocol that abstracts and manages AVS methods for Liquid Restaking Tokens (LRTs), making Ethereum and Solana restaking ezpz and accessible to everybody.
The merchandise ezETH, pzETH, and ezSOL function interfaces to the EigenLayer, Symbiotic, and Jito Community ecosystems, respectively. Renzo’s mission is to make restaking straightforward and accessible to everybody.”
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Value Motion
Comply with us on X, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate internet marketing.
Featured Picture: Shutterstock/Sample Developments