Reserve Rights token RSR jumps 136% amid SEC chair news

Reserve Rights token RSR increased by 136% in the last 24 hours, becoming the leader among the top 100 cryptocurrencies by market capitalization, and its price reached $0.02518, the highest level since the beginning of 2022.

According to market data from Crypto.news, the price of Reserve Rights (RSR) increased sharply on December 3, reaching $0.02518. The ERC-20 token, which works as an over-collateral asset of Reserve stablecoins or RTokens and for governance, traded at the lows of $0.00933 earlier in the day.

The gains came as RSR trading volume increased by over 3,100% in 24 hours to over $1.26 billion and market capitalization increased by 130% to over $1.17 billion. Reserve Protocol launched the RSR token in May 2019 with a highly successful initial exchange offering.

Why did RSR price increase today?

The RSR token is up more than 177% in the past week and over 300% in the last 30 days. These gains come amid a broader market rally since early November, while RSR holders are celebrating the bullish trend triggered by the latest news on the U.S. Securities and Exchange Commission.

On December 3, reports emerged that President-elect Donald Trump had reached out to former SEC commissioner Paul Atkins.

Specifically, Trump is said to have chosen Atkins to be the next SEC chairman, taking over from Gary Gensler. Even though there was no official statement, the market’s reaction to the rumors was great.

If you open CoinMarketCap and wonder why $RSR is pumping in so much money, it’s because the new SEC chairman, Paul Atkins, is an advisor. @reserveprotocol.

This news is crazy.

Did you think $2.1 was just my stupid vision?

You will see. You will soon understand.
I will explain.

You?
👇… pic.twitter.com/7NpdGJUkNE

— TENET (@TENET1st) December 3, 2024

The RSR token reached an all-time high of $0.1189 in April 2021.

According to DeFiLlama, the total value of the Reserve Protocol locked has increased from $14 million in November 2023 to over $276 million.