An Ethereum (ETH)-based liquid staking token is soaring in price after the top US-based crypto exchange platform Coinbase announced support for the altcoin.
In a new thread, Coinbase says it’s adding support for liquid staking protocol Renzo (REZ), a project that aims to streamline the process of staking Ethereum and other digital assets.
“Coinbase will add support for Renzo (REZ) on the Ethereum (ERC-20 token) network… Trading will begin on or after 9AM PT on 6 March, 2025, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our REZ-USD trading pair will launch in phases.”
News of the addition sent REZ flying, as the digital asset went from a low of $0.0170 on March 5th to a peak of $0.0243 just a day later. REZ has since stabilized in price and is trading for $0.0204 at time of writing, a 20.5% gain on the day.
Liquid restaking is when traders use digital assets they…
