Reserve Rights (CURRENCY:RSR) traded 5.7% lower against the dollar during the 24-hour period ending at 9:00 AM E.T. on June 11th. Over the last week, Reserve Rights has traded 15.3% lower against the dollar. Reserve Rights has a market capitalization of $406.28 million and approximately $37.03 million worth of Reserve Rights was traded on exchanges in the last 24 hours. One Reserve Rights coin can currently be purchased for $0.0309 or 0.00000082 BTC on popular cryptocurrency exchanges.
Here’s how similar cryptocurrencies have performed over the last 24 hours:
- Chainlink (LINK) traded 5.1% lower against the dollar and now trades at $23.12 or 0.00061778 BTC.
- Binance USD (BUSD) traded down 0% against the dollar and now trades at $1.00 or 0.00002672 BTC.
- Polygon (MATIC) traded 5.5% lower against the dollar and now trades at $1.35 or 0.00003619 BTC.
- THETA (THETA) traded down 6% against the dollar and now trades at $8.38 or 0.00022387 BTC.
- DREP (DREP) traded 21% lower against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded down 19.5% against the dollar and now trades at $1.96 or 0.00003399 BTC.
- Dai (DAI) traded down 0% against the dollar and now trades at $1.00 or 0.00002675 BTC.
- Aave (AAVE) traded down 4.1% against the dollar and now trades at $313.51 or 0.00837727 BTC.
- PancakeSwap (CAKE) traded 3.5% lower against the dollar and now trades at $17.24 or 0.00046072 BTC.
- FTX Token (FTT) traded down 1.2% against the dollar and now trades at $32.73 or 0.00087451 BTC.
Reserve Rights Profile
According to CryptoCompare, “The Reserve Protocol holds the collateral tokens that back the Reserve token. When new Reserves are sold on the market, the assets used by market participants to purchase the new Reserves are held as collateral. This process keeps the Reserve collateralized at a 1:1 ratio even as supply increases. At times, the Reserve Protocol may target a collateralization ratio greater than 1:1. When this is the case, scaling the supply of Reserve tokens requires additional capital in order to maintain the target collateralization ratio. To accomplish this the Reserve Protocol mints and sells Reserve Rights tokens in exchange for additional collateral tokens. Collateral tokens are somewhat volatile. While we may be able to select a portfolio with minimal downside risk, the reality is that drops in the collateral tokens' value will happen. When this happens, the Reserve Protocol will sell newly minted Reserve Rights tokens for additional collateral tokens and add them to the backing. “
Buying and Selling Reserve Rights
It is usually not currently possible to purchase alternative cryptocurrencies such as Reserve Rights directly using US dollars. Investors seeking to acquire Reserve Rights should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Reserve Rights using one of the aforementioned exchanges.
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