RIZE Token Faces Sharp Decline After Exchange Listings
RIZE, the token for the T-RIZE real-world asset (RWA) tokenization project, experienced a significant price drop. Just one day after its debut on major exchanges, RIZE’s value fell by nearly 48%, according to CoinGecko. As of May 16, it traded at around $0.046. This drop came right after the token was listed on Kraken, a top-tier exchange, on May 15.
The token launched on Base, an Ethereum layer 2 network by Coinbase. Alongside Kraken, it also appeared on Aerodrome and Matcha (Base). The token’s price plunge may stem from early investors cashing out. Private sale participants,who received 7% of the total supply,could sell thier tokens immediately. This likely fueled the sell-off.
Key points include:
- RIZE debuted on kraken,Aerodrome,and Matcha.
- It had a circulating supply of $27 million post-launch.
- Private sale investors could sell immediately, contributing to the price drop.
Despite the initial setback, RIZE’s project, T-RIZE Group, has strong backing. It’s based in Montreal and has a $300 million tokenization deal. The token is used for governance, gas fees, and exclusive investments. It also supports federated learning, allowing data collaboration without privacy risks.
Public interest remains high, with RIZE trending on Google. This could attract new buyers, potentially stabilizing the market. Remember,such price drops are common in crypto,especially during initial listings. Early investors often sell quickly to lock in profits, causing short-term volatility.
