REZ (Renzo) 24-hour pump 37.25%

Gate News Bot news, July 16, according to CoinMarketCap data, as of the time of writing, REZ (Renzo) is currently priced at $0.01, with a rise of 37.25% in the last 24 hours, reaching a maximum of $0.02 and a minimum drop to $0.01. The current market capitalization is approximately $47.5 million, an increase of $12.9 million compared to yesterday.

Renzo Protocol is a liquidity re-staking protocol. This protocol allows users to re-stake assets to ensure network security and unlock rewards. Currently, the total re-staking value of Renzo Protocol has reached $1.153 billion, with Ethereum accounting for $1.099 billion and Solana for $53.49 million. Renzo Protocol offers re-staked assets such as ezETH, pzETH, and ezSOL, with annualized returns of 3.03%, 2.73%, and 7.37%, respectively.

Important news about REZ recently:

1️⃣ Renzo Protocol expands support for re-staking on Solana The Renzo protocol officially expands its business scope to the Solana ecosystem and begins offering re-staking services for Solana. This strategic move not only broadens Renzo's ecosystem but also provides users with more diversified staking options. By supporting Solana re-staking, Renzo is expected to attract more Solana users to participate in its platform, thereby promoting the expansion of its user base and increasing the protocol's usage rate.

2️⃣ REZ Token Airdrop Successfully Completed The Renzo protocol successfully completed its airdrop of the native token REZ on April 30. After the airdrop, the market capitalization of the REZ token quickly rose to $289 million, reflecting the market's high recognition and positive expectations for the Renzo project. This airdrop not only increased the market visibility of REZ but also introduced a large number of new users to the protocol, laying a solid user base for future development.

3️⃣ Total re-staking value continues to rise The total re-staking value of the Renzo protocol has surpassed $1.153 billion, a further rise from the previous $1.11 billion. Among them, the re-staking value of Ethereum reached $1.099 billion, dominating the market, while the re-staking value of Solana also increased to $53.49 million. This significant rise not only reflects users' continued confidence in the Renzo protocol but also provides strong fundamental support for the price of the REZ token.

From a technical perspective, the REZ token has recently shown a strong rising trend, with the 24-hour increase expanding from the previous 24.11% to 37.25%, indicating that market buying momentum continues to strengthen. However, considering the high volatility characteristics of the cryptocurrency market, investors should remain cautious and closely monitor market changes.

This message does not constitute investment advice, and investors should be aware of market volatility risks.