Reserve Rights (RSR) traded 1.1% lower against the US dollar during the twenty-four hour period ending at 21:00 PM Eastern on May 24th. Over the last seven days, Reserve Rights has traded 28.1% higher against the US dollar. Reserve Rights has a total market cap of $94.56 million and approximately $147.71 million worth of Reserve Rights was traded on exchanges in the last day. One Reserve Rights coin can now be purchased for approximately $0.0064 or 0.00000022 BTC on cryptocurrency exchanges.
Here’s how similar cryptocurrencies have performed over the last day:
- BITCOIN ADDITIONAL (BTCA) traded 1.7% higher against the dollar and now trades at $29,661.87 or 0.99994937 BTC.
- Binance USD (BUSD) traded 0.1% lower against the dollar and now trades at $1.00 or 0.00003370 BTC.
- Crypto.com Coin (CRO) traded up 5% against the dollar and now trades at $0.41 or 0.00001075 BTC.
- Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
- DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
- Dai (DAI) traded 0.1% higher against the dollar and now trades at $1.00 or 0.00003373 BTC.
- THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 BTC.
- Polygon (MATIC) traded 2.2% higher against the dollar and now trades at $0.66 or 0.00002221 BTC.
- yOUcash (YOUC) traded up 0% against the dollar and now trades at $0.50 or 0.00001686 BTC.
About Reserve Rights
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 possible to buy alternative cryptocurrencies such as Reserve Rights directly using US dollars. Investors seeking to trade Reserve Rights should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Reserve Rights using one of the aforementioned exchanges.
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