Reserve Rights Token (RSR) spikes after hitting key milestone
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Reserve Rights Token (RSR) price continued soaring this week as investors continue focusing on tokenization. It peaked at $0.013 on Tuesday, 720% above its lowest level in 2023. This makes it one of the best-performing tokens in the market.
Reserve Rights Token chart
Reserve Rights has done well because of continued inflows in its ecosystem and the hopes that tokenization will continue doing well. In a statement, the developers noted that the ecosystem’s reserves had jumped to over $102 million.
These inflows continued on Wednesday. According to DeFi Llama, the total value locked (TVL) in the ecosystem jumped to more than $105 million. This is a notable performance since Reserve Rights started the year with $35 million in assets.
This trend is happening as more big companies embrace the concept of tokenisation. In a statement on Wednesday, HSBC, the biggest European bank, said that it was moving to the Real World Assets (RWA) industry as it launched its gold tokens.
HSBC is not the only major company to embrace this technology. Last week, we wrote that Blackrock announced that it was making investments in the industry. The company is working with Securitize to tokenize its assets. It also launched a fund with $100 million in USDC deposits.
Other large companies like ANZ, JPMorgan, Barclays, and the London Stock Exchange (LSE) have announced initiatives in the industry. Swift, the organisation that connects banks, is also working with Chainlink to grow its tokenisation business.
Reserve Rights is a growing blockchain platform in the tokenisation industry. It rums the RToken Factory Contracts, which creates currencies that are backed by ERC20 collateral. The most popular tokens in the ecosystem are eUSD, ETH+, bsdETH, and hyUSD.
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