Coin overview
REZ
Ended--
Last price (USDT)
207.60K
24h total (USDT)
760.17K
Total vol (USDT)
2024-04-24 08:00:00 ~ 2024-04-30 11:30:00
Trading time (UTC+0)
2024-04-30 14:00:00
Delivery time (UTC+0)
Total supply10.00B
Resources
Introduction
Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem, securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking. The protocol abstracts all complexity from the end-user and enables easy collaboration between users and EigenLayer node operators.
Heightened Short-Term Risk Aversion: How to Play Defense Under Multiple Pressures?
Original Article Title: "Exploring Investment Opportunities in a Volatile Cryptocurrency Market: Base Protocol's Ecological Liquidity Aggregation Effect | Frontier Lab Cryptocurrency Weekly Report" Original Source: Frontier Lab Market Overview Market Summary This week, the cryptocurrency market showed a volatile downward trend, with Bitcoin continuing last week's volatile decline, and altcoins generally following the market in a volatile downward trend. The market sentiment index decreased slightly from last week's 30% to 28%, remaining in the bearish zone. Stablecoin Market Dynamics The stablecoin market overall maintained last week's upward trend, showing a synchronous rise in USDT and USDC: · USDT: With a market capitalization of $155.7 billion, a week-on-week growth of 0.32%, although it continues to maintain an upward trend, the weekly incremental funds recently fell below $1 billion for the first time, indicating a decreasing intensity of fund inflows. · USDC: With a market capitalization of $61.4 billion, a week-on-week growth of 0.33%, ending last week's downward trend and showing a slight increase. This phenomenon deserves investors' attention: Although the market capitalization of USDT continues to rise, it only increased by $5 billion this week, ending the previous six weeks of over $10 billion weekly growth, indicating a decreased intensity of funds entering the market, mainly from non-U.S. users. Since USDT has a more diverse range of use cases, the actual funds entering the crypto market may be less than $5 billion; the market capitalization of USDC saw an increase this week, reflecting the re-entry of funds, mainly from U.S. investors. Although only $2 billion entered this week, the inflow amount is not large, but this signal needs to be continuously monitored. Market Performance Divergence This week, the cryptocurrency market showed significant structural differentiation: Bitcoin maintained a volatile downward trend, while altcoins experienced a sharp decline. This differentiation reflects the risk-averse nature of capital concentration in relatively safe assets in an uncertain environment, with Bitcoin's status as crypto's "safe haven" being evidenced. Geopolitical Risk Escalation · Escalation of Middle East Conflict: The conflict between Israel and Iran continues to escalate, with the U.S. military deployment around Iran intensifying. Market concerns about direct U.S. involvement in the conflict are increasing. · Risk Transmission Mechanism: Geopolitical tensions directly impact risk assets through a path of decreased risk appetite, with cryptocurrencies being at the forefront as high-risk assets. Particularly, meme coins with relatively poor liquidity are more vulnerable to such impact. Monetary Policy Expectation Shift · Fed's Stance Turning Hawkish: While this week's interest rate meeting maintaining the 4.5% rate met expectations, the meeting minutes revealed a subtle shift in policymakers' attitude. · Sharp Cut in Rate Cut Expectations: The number of officials favoring no rate cuts increased to 7, and the 2025 rate cut expectation reduced from two cuts to one. This shift directly hit the market's expectations of loose liquidity. · Economic Expectation Adjustment: The Fed simultaneously lowered its growth forecast and raised its inflation forecast, exacerbating market's worries about "stagflation" and further deepening the market's pessimism. Policy Favorable Factors · Positive Legislative Progress: The "GENIUS Act" passed by a large margin in the U.S. Senate, providing policy support for the development of the cryptocurrency industry. · Stablecoin Market Outlook: Treasury Secretary Bennett expects the stablecoin market to reach $37 trillion by the end of 2029, injecting confidence into the long-term development of the cryptocurrency ecosystem. · Limited Sentiment Boost: Despite the presence of policy positives, under the dual pressures of geopolitical risks and monetary policy tightening, the uplifting effect of positive factors is relatively limited. · Investment Strategy Recommendation: Proceed with caution · Escalating Risk Aversion: With the continued escalation of Middle East geopolitical crisis, there is a possibility of further escalation in global risk aversion, which will continue to suppress risk assets. · Increased Market Vulnerability: Amidst multiple uncertain factors, the cryptocurrency market's volatility and fragility have significantly increased, and the risk of flash crashes cannot be ignored. · Cautionary Strategy Recommendation: Investors should maintain a high level of caution, focus on the evolving dynamics of geopolitical events, manage positions appropriately, and guard against sudden risk events causing significant impacts on the portfolio. Market Outlook In the upcoming week, the cryptocurrency market will continue to face severe challenges. The further escalation of the Middle East geopolitical conflict and the possibility of U.S. military intervention will persistently elevate global risk aversion. Combined with the strengthened hawkish stance of the Fed leading to expectations of monetary policy tightening, Bitcoin is expected to struggle in balancing between its safe-haven properties and risk asset characteristics, while meme coins may face greater selling pressure and liquidity drought risks. Under the pressure of key technical support testing, cautiousness of institutional funds, and the potential further escalation of retail panic sentiment, there is a risk of flash crashes and chain reactions in the market. Investors should adopt a defensive strategy, strictly control positions and leverage, closely monitor geopolitical dynamics and key economic data, and guard against sharp market volatility triggered by unexpected events. Next Week Forecast Pick Bullish Pick: AERO AERO: Ecosystem Leader Valuation Reassessment and Strategic Opportunity Analysis under the Coinbase Integration of Base Chain DEX Catalyst Over the weekend, at the 2025 Cryptocurrency Summit, Coinbase's VP of Consumer Product Management, Max Branzburg, announced that Coinbase will be integrating the DEX on the Base Chain into its main application, with future apps embedding DEX trading. · Foundational Impact of Liquidity Integration · Liquidity Infrastructure from Platform Scale Effects As a leading industry exchange, Coinbase boasts over 100 million registered users and 8 million monthly active trading users, with customer assets totaling $4280 billion. This massive user base and asset scale provide unparalleled liquidity sources for the Base Chain DEX. When these users directly access the Base Chain DEX through the Coinbase main application, it will lead to a scalable liquidity import effect. · Structural Advantage of Institutional Funds Data shows that institutional client trading volume on the Coinbase platform has been steadily increasing, reaching 82.05% ($256 billion) in Q1 2024, while retail trading accounts for only 18%. This institution-dominated trading structure means that funds entering the Base Chain have greater stability and larger single-trade volumes, which is conducive to increasing the DEX's trading depth and reducing slippage. · Competitive Edge from Market Concentration Aerodrome, as the largest DEX project in the Base ecosystem, accounts for approximately 60% of the entire Base ecosystem DEX trading volume. According to liquidity aggregation effects, new liquidity will flow preferentially to the platform with the highest trading volume and best depth. Aerodrome's market leadership position makes it a primary recipient of Coinbase liquidity. DEX Trading Volume Distribution in the Base Chain (Data Source: https://dune.com/x_drome_analytics/base-dex-landscape) Aerodrome Beneficiary Economic Model Analysis Tokenomics Positive Feedback Loop Mechanism Incentive Structure for Revenue Distribution Aerodrome adopts a 100% revenue distribution mechanism: veAERO holders receive 100% of the fees and bribe rewards from their voting pools, while LPs receive 100% of AERO emission incentives. This design ensures that the growth of protocol revenue directly translates into increased returns for token holders. · Stake-Driven Supply Contraction As Coinbase liquidity import boosts Aerodrome's trading volume and revenue, veAERO holders' APY will significantly increase. The high yield will incentivize more users to stake AERO as veAERO, reducing the circulating supply of AERO, creating a supply-demand imbalance driving a price increase positive feedback loop. · Governance Weight Value Realization veAERO holders determine the allocation of AERO emissions through voting, with this governance weight more pronounced in a high liquidity environment. As protocol revenue grows, the economic value of governance rights will attract more long-term investors to participate in staking. · Technical Architecture Scalability Advantage · Efficiency Improvement through Multiple Technology Integration Aerodrome combines Curve/Convex's tokenomics, Uniswap v3's concentrated liquidity provider (clAMM), and optimized Solidly codebase. This technological fusion ensures that the platform can efficiently handle large-scale liquidity, providing users with better trade execution performance. · Capital Efficiency Competitive Advantage clAMM technology achieves capital-efficient exchanges, providing lower slippage and better price execution under the same liquidity conditions. With Coinbase liquidity injection, this technological advantage will be further amplified, consolidating Aerodrome's competitive position in the Base ecosystem. · Scalability Long-term Safeguard Aerodrome's technical architecture has good scalability, able to accommodate large-scale fund inflows without compromising system stability. This provides a technical foundation for its long-term benefits from Coinbase integration. · On-chain Data Analysis Aerodrome TVL (Data Source: https://defillama.com/protocol/aerodrome) From the chart, we can see that Aerodrome's TVL reached a low point in early April, followed by a rapid rebound, now standing at $1 billion with a rebound rate of 56%. Aerodrome Trading Volume (Data Source: https://defillama.com/protocol/aerodrome) From the chart, it is evident that Aerodrome's trading volume experienced a significant surge after Coinbase integrated a DEX on the Base chain into its main application. The trading volume surge aligns closely with Coinbase's trading hours, with peak volumes concentrated from Monday to Friday, while weekends show a noticeable decrease in trading volume, indicating a clear flow of funds from Coinbase into Aerodrome. Aerodrome Project Revenue (Data Source: https://defillama.com/protocol/aerodrome?dexVolume=false&tvl=false&revenue=true) From the chart, it can be seen that Aerodrome's project revenue also experienced a rapid increase following Coinbase's integration of a DEX on the Base chain into its main application, aligning with the trading volume surge and Coinbase's trading hours. Base Ecosystem Projects Ranked by Revenue (Data Source: https://defillama.com/chain/base) From the above graph, it can be seen that Aerodrome's project revenue ranks first among all projects on the Base chain, with daily revenue fluctuating around $500,000 (daily average around $600,000). Base Ecosystem DEX projects ranked by trading volume (Source: https://defillama.com/chain/base) From the above graph, it can be seen that Aerodrome's trading volume has far exceeded that of Uniswap, reaching $525 million (daily average trading volume around $600 million), ranking first among DEX projects in the Base ecosystem. AERO Token Holdings Addresses (Source: https://dune.com/thechriscen/aerodrome-analysis) From the above graph, it can be seen that the number of AERO token holding addresses has seen a rapid increase after Coinbase announced the integration of the Base chain's DEX into its main application, indicating that this policy has promoted user holdings of the AERO token. Summary From the analysis of Coinbase integrating the Base chain DEX policy, it can be seen from on-chain data that theoretical analysis aligns closely with actual data, verifying the real effectiveness of the bullish scenario: post integration policy announcement, Aerodrome's trading volume surged to a daily average of $600 million, surpassing Uniswap; project revenue remained at the top of the Base chain, reaching a daily average of $600,000; TVL rebounded by 56% exceeding $1 billion; AERO's holding addresses grew rapidly, with the data showing a clear Coinbase transaction time feature directly confirming the influx of funds effect. Bearish Targets: ALT, REZ ALT: Token Unlock Risk Warning and Price Downtrend Analysis Under Triple Pressure Project Fundamental Analysis AltLayer, as a decentralized Elastic Rollup-as-a-Service (RaaS) protocol, focuses on providing scalable layer-two solutions for blockchain applications. The project demonstrates a certain level of innovation and practical value at the technical level, but currently faces the main challenge of unfavorable market conditions. Market Deterioration Factors The current Ethereum ecosystem as a whole is showing weakness, with increasing doubts in the market about Layer-2 solutions. The main issue revolves around Layer-2 being seen as the root cause of hindering the development of the Ethereum ecosystem, leading to a significant fragmentation of market liquidity. This negative market sentiment has directly impacted the market performance and capital inflow of all Layer-2 related projects, including AltLayer. Project Utilization and Attention Decline Due to the overall cooling down of the Layer-2 track, AltLayer's actual utilization as an RaaS project is significantly insufficient, leading to a notable decrease in market attention and capital infusion. This vicious cycle further weakens the project's fundamental support and market confidence. Token Unlocking Pressure Analysis · Unlocking Scale and Time Points: On June 25th, 195 million ALT tokens will be unlocked, accounting for 1.95% of the total locked amount, making the unlocking scale relatively large. · Unlocking Recipients Structure: According to the whitepaper's linear unlocking chart, the main beneficiaries of this unlocking are investment institutions and the project team, who typically have a strong incentive to cash out. Summary Taking into account the triple pressure of deteriorating market conditions, declining project attention, and large-scale token unlocking, the ALT token faces significant downward price risk. Potential selling pressure from institutions and teams may trigger a chain reaction in a low-liquidity market environment, significantly impacting the token price negatively. REZ: Analysis of Price Downside Risk Resulting from Fundamental Deterioration and Large Unlock Project Fundamentals and Positioning Renzo, as a liquidity re-staking protocol based on the EigenLayer ecosystem, aims to simplify complex staking mechanisms for end users and facilitate quick collaborations with EigenLayer node operators and Active Validation Services (AVS). The project relies on EigenLayer's innovative infrastructure in its technical architecture, presenting certain ecosystem value and application prospects. External Environment Pressure Analysis · Overall Weakness of the Ethereum Ecosystem: The current performance of the Ethereum ecosystem continues to be weak, directly affecting the overall activity and capital inflow of the Ethereum DeFi ecosystem. · Staking Market Contraction: The ETH staking rate has dropped to 28.35%, reflecting a lack of confidence in staking rewards. This downward trend directly impacts the Restaking track's fundamental demand, causing related projects to lose market attention and financial support. ETH Staking Fund Flow (Data Source: https://dune.com/hildobby/eth2-staking) Project Operation Data Deterioration TVL Sharply Shrinks: Renzo's TVL plummeted from $18.3 billion at the beginning of the year to $9.45 billion, a nearly 50% decrease, reflecting continuous outflows of funds and severe lack of market confidence. Renzo's TVL (Data Source: https://defillama.com/protocol/renzo?revenue=false&devMetrics=false&devCommits=false&tvl=true&fees=false) Income Continues to Decline: The project's daily average income has remained around $5,000, showing a continuous downward trend, indicating a significant decline in user activity and protocol usage. The continuous deterioration of income data directly reflects a continuous decrease in market users' frequency of using the Renzo protocol, forming a negative feedback loop. Renzo Project Income (Data Source: https://defillama.com/protocol/renzo?revenue=true&devMetrics=false&devCommits=false&tvl=false&fees=false) Token Unlock Risk Assessment · Unlock Scale and Structure: On June 29, 4.23 billion REZ tokens will be unlocked, accounting for 4.24% of the total lockup amount. Considering the current total circulation rate is only 32.63%, this unlock will significantly increase the market's circulating supply. · Unlock Recipients' Risk: According to the whitepaper's linear unlock plan, this unlock mainly involves investment institutions and the project team, which have strong motivations for cashing out and selling pressure in the current market environment. · Market's Limited Absorption Capacity: In a context of low Restaking track heat and few participants, the daily trading volume of REZ tokens is only around $2.25 million, and the market's capacity to absorb the increase in a large token supply is severely insufficient. Daily Trading Volume of REZ Token (Data Source: Coingecko) Summary Renzo is facing challenges including a deteriorating macro environment, continuously worsening fundamental data, and a large token unlock. Against the backdrop of a weak performance in the Ethereum ecosystem with both project TVL and revenue declining, the centralized unlock of 4.23 billion REZ tokens may trigger significant selling pressure, leading to a significant negative impact on the token price. Market Sentiment Index Analysis TOTAL3 (Data Source: TradingView) The market sentiment index decreased slightly from 30% last week to 28% this week. BTC fell by 0.78% this week, ETH fell by 0.97%, and TOTAL3 rose by 0.73% this week. Altcoins are overall in a bearish zone, maintaining a level of panic. Overall Market Theme Overview Data Source: SoSoValue Based on weekly return rate statistics, the PayFi track performed the best, while the AI track performed the worst. · PayFi Track: XRP, BCH, XLM, and LTC have a relatively large share in the PayFi track, accounting for a total of 99.09%. Their weekly price changes were: -3.41%, 12.35%, -8.96%, -3.12% respectively. It can be seen that projects in the PayFi track had mixed price movements, with projects showing a downward trend outperforming others, thus making the PayFi track the best performer. · AI Track: TAO, FET, RENDER, WLD, VIRTUAL, and FARTCOIN have a relatively large share in the AI track, accounting for a total of 91.63%. Their weekly price changes were: -10.79%, -7.96%, -14.59%, -12.28%, -17.68%, -20.83% respectively. It can be seen that the average price drop of projects in the AI track was higher than other tracks, hence making the AI track the worst performer. Next Week's Crypto Major Events Preview · Monday (June 23rd) NFT NYC 2025 held in New York, USA · Tuesday (June 24th) Federal Reserve Chair Powell delivers semiannual monetary policy testimony to the House of Representatives · Friday (June 27th) US May Core PCE Price Index; US June University of Michigan Consumer Sentiment Final Summary This week, the cryptocurrency market saw a structural decline amid multiple negative factors. The market sentiment index slightly decreased from 30% to 28%, entering the bearish zone. While the stablecoin market maintained its growth trend, the incremental funds in USDT fell below the $1 billion threshold for the first time, reflecting a significant weakening in fund inflows. The slight recovery of USDC implies tentative entry of US funds. Geopolitical risks, hawkish Fed stance, and fundamental divergence in various tracks collectively constitute the three-fold pressure facing the current market. In the current market environment, investment strategies should focus on precise identification of structural opportunities and effective risk avoidance. AERO, as the leading DEX in the Base ecosystem, benefited from the Coinbase integration policy catalysis. On-chain data verified a significant improvement in its trading volume, revenue, and TVL, representing a typical case of seeking policy-driven growth in a highly uncertain market. Looking ahead to the coming week, investors should closely monitor Powell's monetary policy testimony on June 24th, the core PCE data on June 27th, and the latest developments in the Middle East geopolitical situation. These key events will directly impact market risk appetite and liquidity expectations. It is advisable to adopt a "defense first, selection second" strategy. While strictly controlling positions and leverage, focus on high-quality targets with policy catalysts and fundamental improvements. Stay highly vigilant of projects facing substantial unlocks, and seek robust investment returns through precise risk management and opportunity identification in a challenging market environment. Original Article Link
A major whale transferred 4,000 ETH to a CEX two hours ago
According to on-chain analyst AiYi, LRT staking whale 0x346 deposited 4,000 ETH into a centralized exchange (CEX) two hours ago, valued at $9.14 million. This batch of ETH was redeemed from Renzo a year ago, then deposited into StakeStone, and withdrawn again two hours ago. The cost basis was approximately $2,310 per ETH, so if sold now, it would result in a loss of $216,000.
Renzo and Concrete Form Strategic Partnership to Launch Institutional Restaking Vaults on Eigenlayer
Renzo Protocol has announced a strategic partnership with DeFi vault infrastructure provider Concrete to jointly launch a suite of customized restaking vault products for institutional users, named Flow Vaults. This framework combines Renzo’s restaking capabilities on EigenLayer with Concrete’s institutional-grade smart contracts and operational systems, providing asset issuers, institutional investors, curators, and networks with a one-stop, configurable access path to EigenLayer. The product supports automated execution, AVS rebalancing, and reward management, and integrates audit-level transparency, compliant node operators, and a whitelist mechanism. The two parties also plan to expand to non-ETH collateral assets, introduce neutral and cross-chain strategy vaults, and roll out innovative features such as time-locked restaking bonds.
RootData: REZ to Unlock Tokens Worth Approximately $3.86 Million in One Week
According to ChainCatcher, citing token unlock data from the Web3 asset data platform RootData, Renzo Protocol (REZ) will unlock approximately 398.17 million tokens at 8:00 AM (GMT+8) on June 24, with an estimated value of around 3.86 million US dollars.
Reinventing Crypto Incentives: How Nudge Is Building the Google Ads of Web3
Incentivizing real users, capital, and liquidity has long been one of crypto’s biggest challenges. While airdrops sparked early momentum for many protocols, they’ve proven unsustainable in the long term, often attracting mercenary users with little alignment to project goals. But what if there were a smarter, KPI-driven way to reward user behavior that actually supports ecosystem growth? Enter Nudge, a crypto-native reallocation marketplace that combines the scalability of adtech with the transparency of onchain rewards. Positioned as the “Google Ads for crypto,” Nudge helps protocols incentivize meaningful asset movement—without the inefficiencies of traditional airdrops. Users earn predictable rewards for reallocating their assets and holding them over time, while protocols drive measurable, sustainable adoption. In this interview, we spoke with Markus Maier – Founder of Nudge, and we explored how Nudge works under the hood, why it’s gaining traction across the industry, and how it’s reshaping the future of crypto incentives. What inspired the creation of Nudge? Nudge was born out of a simple observation: capital in crypto is highly mobile, but the way protocols incentivize users is inefficient and extractive. Most reward programs either pay for mercenary liquidity or fail to measure real, lasting impact. We saw a gap – there was no platform that let protocols pay for capital movement with precision. That inspired Nudge: a reallocation network where protocols reward users not for adding more money, but for moving their capital strategically. It’s the first incentive engine that aligns users’ yield with protocols’ growth KPIs. How does Nudge technically ensure users are rewarded only after fulfilling campaign conditions (e.g., 7-day hold period)? Every campaign is permissionlessly deployed using our Campaign Builder. Protocols define a reallocation rule (e.g., move $1,000 from Aave to Morpho), a holding period (e.g., 7 days), and a reward budget. The lifecycle is as follows: Setup: Protocol launches a campaign and deposits funds into a smart contract escrow. User Participation: A user signs a transaction that proves a qualifying reallocation (e.g., stablecoin out of Protocol A, into Protocol B). Time Lock: Funds are only eligible if they stay put for the full hold period. Nudge monitors this using time-based checkpoints and snapshots. Payout: Once verified, the reward is claimable This approach prevents gaming, avoids custodial risk, and ensures rewards are only paid for net-new, sticky TVL. What makes Nudge a more sustainable alternative to traditional airdrops for protocols? Nudge offers a more sustainable alternative to traditional airdrops because it is built around precision, performance, and programmability. Unlike conventional airdrops, which often distribute tokens indiscriminately to anyone who meets basic criteria—regardless of their long-term engagement or value to the protocol—Nudge allows projects to set specific KPIs that align with meaningful user behavior. For example, protocols can choose to reward only users who hold tokens for at least seven days or who bring in net-new capital above a certain threshold. This results in no wasted spend, as rewards are only distributed when users actually meet the desired outcomes. Additionally, Nudges are fully programmable, meaning protocols can adjust the reward parameters, target specific user behaviors, and control risk exposure. This level of control and accountability creates a more efficient and targeted approach to user acquisition and retention, making Nudge far more sustainable than traditional, one-size-fits-all airdrops or blind liquidity mining strategies. You describe Nudge as the “crypto-native version of Google Ads.” What does that mean? Google Ads lets businesses pay for high-intent traffic. Nudge lets protocols pay for high-intent capital movement. For protocols: It’s targeted user acquisition — but instead of clicks or installs, you’re buying TVL that sticks. For users: You get rewarded not for holding or farming passively, but for switching providers — from one L1, L2, stablecoin, or restaking service to another. We’re turning capital allocation into a performance marketing channel — with attribution, targeting, and incentives. You just launched the Reallocation Network. What core problem does it solve? It solves the inefficiency of capital acquisition. Until now, protocols paid users for new deposits — often attracting mercenaries who leave the moment rewards dry up. The Reallocation Network flips that: Users get rewarded for shifting capital (from the competition), not adding more. Protocols get sticky TVL, only if users hold and qualify. It’s a new incentive layer built for capital composability — designed for today’s fractured, multi-chain world. Can you walk us through a real-world example of how a protocol might use Nudge to incentivize capital reallocation? A liquid restaking protocol like Renzo could launch a Nudge campaign with the following terms: Users who reallocate from EtherFi’s eETH to ezETH qualify $10k budget with a 1% instant reward for reallocating (plus 10x Nudge Points ) Rewards unlock if they hold for 7 days or more (=52% APY) This lets Renzo target rival TVL with surgical precision, while users enjoy better restaking terms and an added Nudge bonus. How does the “Fat User Thesis” inform the design and economics of your platform? The “Fat User Thesis” posits that in the Web3 ecosystem, value should increasingly accrue to active users rather than solely to protocols or applications. This perspective challenges traditional models like the “Fat Protocol Thesis,” suggesting that users who actively reallocate their capital across platforms are pivotal in driving the ecosystem’s growth. Nudge’s platform is designed to operationalize this thesis by providing programmable incentives—termed “Nudges”—that reward users for reallocating their assets, liquidity, and activity within the Web3 space. By doing so, Nudge aims to redistribute value from protocols and dApps directly to users, fostering a more user-centric and sustainable economic model in the decentralized ecosystem. You’ve emphasized that users don’t take on additional risk — how do you ensure that? Let me clarify – we are thinking in risk profiles per category. At Nudge, we operate on the principle that in crypto, the token is the product. Switching from one token to another within the same category—like moving from one stablecoin to another or from one staking provider to another—should be a risk-neutral action. Our platform is designed to reward users for these reallocations, ensuring they maintain the same underlying risk-category exposure while benefiting from better yields or services. Of course, we always encourage users to conduct their own research. But fundamentally, Nudge aims to make capital movement within equivalent risk profiles both safe and rewarding. How does the Campaign Builder work for protocols? The Campaign Builder allows any protocol to easily launch and manage a campaign through a streamlined self-serve interface. Protocols can define custom reallocation rules, such as specifying a source and destination token, and set clear key performance indicators, like a minimum transaction size or required holding period. Once these parameters are set, the campaign can be funded using any ERC-20 or native token of choice. The platform also provides real-time performance tracking, giving protocols full visibility into how the campaign is progressing. The entire process takes less than 10 minutes to complete, and every user interaction, known as a Nudge, is fully verifiable and transparent, ensuring trust and accountability throughout the campaign lifecycle. Which asset classes or crypto sectors are you prioritizing first — and why? We are currently prioritizing six risk-matched verticals that we believe represent the most strategic opportunities in the current market environment. These include stablecoins, staking, restaking, Layer 1 chains, Layer 2 roll-ups, and decentralized exchanges/lending protocols. Our focus on these sectors is driven by their high capital intensity and the fact that they tend to be highly competitive, making them ideal for capital reallocation. Stablecoins, for example, are foundational to liquidity and transaction efficiency across the entire crypto ecosystem. Staking and restaking offer compelling yield opportunities while reinforcing network security. Meanwhile, L1 and L2 infrastructures continue to attract robust developer activity and ecosystem growth, serving as the backbone for decentralized applications. Lastly, DEXs and lending protocols are essential pillars of decentralized finance, facilitating permissionless trading and access to capital. Together, these sectors provide both defensive resilience and strong upside potential in the evolving Web3 landscape. With backing from major players like Coinbase Ventures and Brevan Howard, what’s your roadmap post-launch? With strong backing from industry leaders such as Coinbase Ventures and Brevan Howard, our post-launch roadmap is focused on expanding both our reach and functionality across the Web3 ecosystem. One of our key next steps is to roll out cross-chain campaigns beyond Ethereum mainnet, including integrations with ecosystems like Avalanche, BNB Chain, and Solana. These expansions will allow us to engage a wider user base and tap into diverse liquidity pools. We’re also introducing innovative features such as Nudge Points and Loyalty Vaults, which are designed to reward long-term participation by allowing users to accumulate multipliers over time. This gamified approach not only encourages retention but also strengthens user engagement across multiple touchpoints. On the institutional side, we’re developing an Institutional Reallocation Desk tailored for DAOs and crypto treasuries. This will enable more efficient capital deployment and help optimize treasury flows within the Web3 space. Ultimately, our goal is to build the foundational incentive infrastructure that powers the movement of capital throughout Web3. What we’ve launched is only the beginning — we’re laying the groundwork for a more connected, efficient, and user-aligned decentralized economy.
Ethereum Liquidity Re-staking Protocol TVL Rebounds to Around $10 Billion
According to DefiLlama data, the current TVL of Ethereum liquidity restaking protocols is $10.338 billion, with the top five protocols by TVL being: -ether.fi TVL is $6.782 billion, with a 7-day increase of 0.55%; -Kelp TVL is $1.343 billion, with a 7-day decrease of 1.18%; -Renzo TVL is $753 million, with a 7-day decrease of 0.77%; -Mantle Restaking TVL is $515 million, with a 7-day decrease of 3.63%; -Mellow LRT TVL is $327 million, with a 7-day increase of 1.76%;
A whale reportedly dumped 2,924 ETH five hours ago, with a potential loss of $4.46 million if sold
PANews, April 26 – According to AI Yi monitoring, a whale that entered the LRT market at its initial high reportedly offloaded 2,924 ETH (approximately $5.24 million) five hours ago, potentially incurring a $4.46 million loss if sold. The address had accumulated ETH between April 2 and April 13, 2024, retrieving it from Renzo and depositing it into a CEX six hours ago. The purchase price was $3,322, while the deposit price was $1,794, indicating ETH has depreciated by nearly 46% over the year.
A whale is suspected of selling 2924 ETH
according to on-chain analyst Ai (@ai9684xtpa), a whale who entered the market at the early high point of the bull market is suspected to have sold 2924 ETH 5 hours ago, worth about $5.24 million. If all sold, it would result in a loss of $4.46 million. The address bought ETH at an average price of $3322 between April 2 and 13, 2024, and only withdrew and recharged to Binance from Renzo six hours ago, when the recharge price was $1794. In one year, ETH has depreciated by nearly 46%.
RootData: REZ to unlock tokens worth about $5 million in one week
According to ChainCatcher News and token unlock data from the Web3 asset data platform RootData, Renzo Protocol (REZ) will unlock approximately 39.817 million tokens valued at about $5 million at 8:00 AM on April 24, East 8th Zone Time.
Mike Novogratz’s Galaxy Ventures Fund on track to raise $180m for crypto startups
Billionaire Mike Novogratz’s Galaxy Ventures Fund I LP is on track to raise up to $180 million by June to back early-stage crypto and blockchain startups, with a focus on payments and stablecoins. According to unnamed sources cited in an April 17 Bloomberg report , the fund has already surpassed its initial $150 million target and is expected to close with between $175 million and $180 million. The final close is scheduled for the end of June. Galaxy has not made the figures public, and a spokesperson declined to comment. Galaxy Ventures Fund I invests in early-stage companies building infrastructure and financial tools for the crypto economy. Its current portfolio includes synthetic dollar issuer Ethena, stablecoin-focused DeFi protocol M^Zero, layer-1 blockchain Monad, asset tokenisation chain Plume, and Renzo, which supports Ethereum restaking via EigenLayer. The fund had its first close in June 2024, when Galaxy Asset Management announced it had raised $113 million . At the time, the firm said the venture fund would target startups building crypto protocols, software, and financialized applications. “This fund will strengthen our commitment to fostering innovation in the digital asset space,” Galaxy’s global head of asset management, Steve Kurz, said in a July press release, “enabling us to back visionary startups and gain unparalleled insights into the emerging technologies that will shape both our company and the future of finance.” Led by general partners Will Nuelle and Mike Giampapa, the fund aims to build a portfolio of around 30 investments focused on helping institutions and startups participate in the onchain economy. Galaxy’s venture operations were previously moved under its asset management division before the launch of this fund. Its strong fundraising progress comes despite broader headwinds in the sector, where crypto VC activity has been slow to recover. In Q1 2025, U.S. crypto venture deals fell 22% year-on-year to roughly $1.3 billion, according to Pitchbook. Much of the capital has shifted to artificial intelligence, which absorbed 58% of global VC dollars during the same period. A February report from the analytics firm highlighted just how cautious the market has become. Despite Bitcoin hitting $100,000 in late 2024, median crypto VC deal sizes had dropped nearly 90% since 2018. At the time, PitchBook’s Robert Le said the days of raising capital with just a white paper were long gone, with today’s founders needing “a significant amount of traction or something else other than a technical white paper.” Nevertheless, Le hoped for a rebound in 2025 and projected over $18 billion in venture capital to flow into crypto.
Everclear, the Pantera Capital-backed interoperability protocol, launches mainnet
Cross-chain settlement protocol Everclear has launched its mainnet, according to a Tuesday announcement. The move comes after a period of rapid growth for the network, which has hit $125 million in monthly volume. In addition to launching a "full mainnet," the team says it is rolling out multiple start-of-the-art features. This includes intent protocols, a system that enables users to automate transactions, and intents-based bridges, to make swapping assets between blockchains easier. Everclear, previously known as Connext , is a blockchain interoperability protocol designed to address crypto fragmentation. It was rebranded last year amid a "strategic pivot" to launch its "clearing layer" for intent-based bridges using the Arbitrum Orbit-based rollup chain. The network acts as a backend liquidity hub to simplify cross-chain transaction settlements by matching opposing transaction "intents." In other words, Everclear abstracts away the complexities of interacting with multiple blockchains and enables users to engage with different applications seamlessly, regardless of the underlying chain. It aims to facilitate interactions with any dapp across any blockchain and asset with minimal fees and latency under 10 seconds. For instance, a partnership with Renzo protocol enabled seamless restaking of staked ETH derivatives across chain, leading to over $1 billion in total value locked. Everclear, initially launched in 2017, is backed by leading investors, including Pantera Capital, Polychain, 1kx, Hashed and Consensys. The initial protocol was an Ethereum Foundation grant recipient for research related efforts approximately seven years ago. Editor's note: Updates headline to remove Ethereum Foundation, which was an early supporter of the project that became Everclear but not a contemporary backer.
The TVL of the Ethereum liquidity re-staking protocol has dropped to around $6.5 billion
According to a report by Golden Finance, DefiLlama data shows that the current TVL of Ethereum liquidity restaking protocols is $6.543 billion. The top five protocols by TVL are: - ether.fi with a TVL of $4.164 billion, experiencing a 7-day decrease of 11.07%; - Kelp with a TVL of $893 million, experiencing a 7-day decrease of 10.22%; - Renzo with a TVL of $487 million, experiencing a 7-day decrease of 7.08%; - Mantle Restaking with a TVL of $388 million, experiencing a 7-day decrease of 9.11%; - Mellow LRT with a TVL of $196 million, experiencing a 7-day increase of 10.90%.
The giant whale qklpj.eth transferred 6595.8 ETH to CEX, worth about 12 million US dollars
PANews reported on April 5 that according to on-chain analyst Ember’s monitoring, the whale qklpj.eth transferred 6,595.8 ETH (US$12 million) withdrawn from Renzo to CEX. The whale received 6,329.8 ezETH withdrawn by recasting on March 29 and immediately applied for redemption into ETH. After receiving the 6595.8 ETH redeemed, he transferred it to CEX.
REZ crypto soars over 35% ahead of Bithumb listing
REZ crypto surged by as much as 38% today, ahead of its upcoming listing on South Korea’s Bithumb exchange. According to crypto.news data, Renzo ( REZ ) hit an intraday high of $0.022 on April 1, lifting its market cap to nearly $43 million. While the token was rallying, its daily trading volume dipped 17% to around $114 million, showing signs of trading activity cooling off after the initial hype. The pump came shortly after Bithumb announced it would be listing REZ on its Korean Won market. Trading is scheduled to go live at 4:00 PM KST on Tuesday, April 1, 2025. Deposits and withdrawals will only be available on the Ethereum network, and they’ll open roughly two hours after the announcement. REZ will debut at an initial price of 24.73 KRW (about $0.016), with 33 confirmations needed before deposits are processed. Bithumb will also put some temporary controls in place. For the first five minutes after launch, no buy orders can be placed. Sell orders, meanwhile, must stay within a -10% to +100% range from the base price. Automated trading will only be activated after the first trade is executed. As always, with listings, it’s important to watch the price action closely. It’s common for coins to pump ahead of a major listing due to the hype, only to see a sharp sell-off shortly after going live. As previously reported by crypto.news, Elixir (ELX) spiked nearly 68% to an all-time high of $0.726 before its Bithumb listing on March 11 but lost most of those gains within the next day. Still, some analysts think REZ might have more room to run. Michaël van de Poppe highlighted in a March 31 X post that REZ has been bouncing hard and showing signs of strong momentum. If the current uptrend holds and it manages to break above the $0.027 resistance level, he believes it could rally as high as $0.07 in the coming weeks. Echoing a similar view, fellow analyst Crypto_Jobs also noted a key support zone around $0.0165. As long as REZ stays above that level, the outlook remains bullish, he added. REZ is the native token of Renzo Protocol, a liquid restaking platform built on Ethereum. It serves as an interface to EigenLayer, enabling users to participate in restaking with more flexibility and composability. Last year in August, the project expanded its liquid restaking solution to the Jito ecosystem on Solana. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Renzo Protocol officially expands to Base chain, opening a new chapter in ecological layout
On March 22, Renzo Protocol announced that its ecosystem has rapidly expanded to the Base chain, marking a new stage in its development. The official summarized the important progress of the first phase, including REZ's listing on Coinbase, REZ's support for bridging to the Base chain, and the launch of the Base chain's native re-staking function. Officials said that more ecological functions and integrations are coming soon, and Renzo's layout on Base has just begun. Renzo is EigenLayer's Liquid heavy-staking token (LRT) and strategy manager. It is an interface to the EigenLayer ecosystem that ensures active verification services (AVS) and provides higher returns than ETH staking. The protocol abstracts all complexity from end users and allows easy collaboration between users and EigenLayer node operators. REZ is the governance token of the Renzo protocol, supported by the Liquid heavy-staking token ezETH.
REZ has risen and broken through 0.015 USDT, with a 24-hour increase of 25.41%
Bitget market data shows that REZ has risen and broken through 0.015 USDT, currently quoted at 0.01767 USDT, with a 24H increase of 25.41%.
A certain user retrieved 7912 ezETH mistakenly transferred to the Renzo contract address
According to Odaily Planet Daily, as monitored by the remnants, a user (qklpj.eth) who mistakenly transferred 7912 ezETH (worth about 27.96 million USD at that time) to the Renzo contract address last June has successfully retrieved the funds 9 hours ago. The Renzo protocol project party destroyed the wrongly transferred ezETH and recast an equivalent amount of tokens in qklpj.eth's address. Mr. X has now normally redeemed ETH. It is reported that this user paid a 20% handling fee for this, of which 80% (6329 ezETH) was returned to him, 10% (791 ezETH) flowed into Renzo DAO Treasury, and another 10% went into multi-signature address:0xC5e . Currently, the price of ezETH has significantly shrunk; these assets are now worth approximately $12.39 million.
Over $1 Billion in Investor Tokens Set to Enter Crypto Market: Details
Over $1 billion in tokens from ETHFI, ZRO, and GRASS are set to be unlocked in the coming months. ETHFI and LayerZero will release $550 million tokens within the next year. Projects like REZ and SPEC are also set to release large emissions. The crypto market is set for significant shifts as major projects like Etherfi (ETHFI), LayerZero (ZRO), and Grass (GRASS) prepare for large-scale token unlocks. Data from Tokenomist indicates that over $1 billion worth of investor-held tokens will enter circulation across multiple projects, potentially influencing price stability and market trends. ETHFI and ZRO Tokens Lead Major Releases Etherfi and LayerZero are set to release $274 million and $276 million worth of tokens, respectively. This influx could significantly impact token prices and overall market sentiment. Since these unlocks will happen relatively quickly, they could exert significant short-term pressure on their respective market. Other notable releases, the GRASS and Morpho (MORPHO) projects, have over $700 million in investor emissions set to be released. However, the unlock would happen over a much longer timeline—more than a year from now. While the extended schedule may ease immediate market impact, the sheer size of these emissions remains a key factor to watch. Renzo (REZ) and Spectral (SPEC) will unlock more than 30% of their total token supply. These sizable allocations might influence investor decisions and price volatility in the coming months. Related: Next Week’s Crypto Token Unlocks Total $142 Million: APT, ARB, and CONX Among Key Releases Rapid vs. Gradual Token Supply Increases Projects like QuantixAI (QAI) and ETHFI will fully unlock their investor allocations within a year. This will rapidly increase the circulating supply and potential sell pressure. Meanwhile, BERA and EigenLayer (EIGEN) have unlock schedules extending into 2027-2028. This distributes sell pressure over a longer period and reduces immediate market impact. Monitoring Token Unlocks Crucial for Investors These unlock events are crucial indicators of potential market movements. Low-FDV tokens like REZ and SPEC may experience heightened volatility as supply increases. However, high-FDV projects like BERA and ZRO could see more controlled price action due to their larger valuation relative to emissions. Related: Crypto Token Unlocks: $420M Worth of SUI, OP, ZETA Incoming With major unlocks approaching, token holders will need to closely watch for signs of these sell pressures. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
HyveDA Raises $50M in Pre-Deposits Following Symbiotic Mainnet Launch
In just four hours, it was able to reach a total value locked (TVL) pre-deposit amount of $25M, and it has since reached the maximum amount of deposits. In spite of the enormous demand from investors, HyveDA was forced to limit the amount of pre-deposits to $50 million dollars. Despite the fact that HyveDA has not yet launched its testnet, the record pre-deposits represent a major milestone. Hyve , a high-throughput middleware data availability protocol that is safeguarded by Symbiotic is ecstatic to announce that it has secured pre-deposits totaling $50 million dollars from early contributors (restakers) in only two weeks. The introduction of the Symbiotic mainnet on Tuesday, January 28th, marked the beginning of pre-deposits for HyveDA’s high-performance Data Availability solution. The cumulative deposits cap for all participating vaults was set at $50 million. In just four hours, it was able to reach a total value locked (TVL) pre-deposit amount of $25 million, and it has since reached the maximum amount of deposits, despite the fact that the cryptocurrency market experienced a crash as a result of President Donald Trump’s new tariff policy. In spite of the enormous demand from investors, HyveDA was forced to limit the amount of pre-deposits to $50 million dollars in order to guarantee a controlled and secure onboarding procedure. This enabled the protocol to expand responsibly while still preserving significant levels of security and performance. The funds that have been deposited will not be subject to slashing or operations risk. This means that early donors will have the chance to participate in the foundational phase of the protocol without putting their assets at danger. Despite the fact that HyveDA has not yet launched its testnet, the record pre-deposits represent a major milestone. HyveDA’s successful pre-deposit phase guarantees the essential cryptoeconomic security to make the data availability protocol a leading network inside the Symbiotic ecosystem. This is made possible by the fact that Symbiotic is now live on the mainnet. In order for HyveDA to become the first ever data availability solution with a speed of 1 GB/s, the pre-deposits are absolutely necessary. Douwe Faasen, the Founder and CEO of HyveDA, commented: “This milestone is a testament to how hard the HyveDA team has been working to build valuable connections and working with the best in the industry. The trust and demand that people have put into our high throughput DA is exciting. We’re ready for the next phase with technical releases, network growth, and further solidifying HyveDA as a cornerstone in the Symbiotic ecosystem.” Rather than coming from a small number of institutions, the pre-deposits were contributed by a community of investors that was rather decentralized. There were two different kinds of vaults that the restakers interacted with: the native Committee-X Vault of HyveDA, and the Partner Vaults of HyveDA, which included vaults from EtherFi, Renzo, MEV Capital, Re7, Steakhouse, Gautlet, and P2P. They made a deposit of wstETH into vaults that met the requirements, which made them eligible to begin collecting Hyve Points in addition to extra reward structures. In order to meet the needs of data-intensive blockchains and decentralized applications, HyveDA is in the process of developing a modular data availability protocol that is especially designed for high-throughput protocols. Through a fully decentralized Delegated Proof-of-Stake network that is powered by Symbiotic’s fully permissionless and modular restaking protocol, it ensures that security is maintained. There are approximately $2 billion dollars worth of multi-asset restaking TVL that Symbiotic has, and it is distributed across eighteen different liquid restaking tokens (LRTs). Pre-Deposits are a unique opportunity for early contributors to begin generating Hyve Points and engaging in a more in-depth interaction with the platform. For the purpose of ensuring that Hyve Points are distributed fairly, they will be calculated retroactively, and all of the points that were earned during the pre-deposit phase will be carried over to the subsequent phases. Further information on the usefulness of these points will be disclosed at a later date. These points will play an important part in the ecosystem that HyveDA has created. Restakers in the HyveDA Committee-X Vault will have the option to build their own vault(s) after the pre-deposit phase is complete. Alternatively, they will be able to join other vaults that have been built by Hyve, Mellow, or other external parties, providing that these vaults are linked to the HyveDA protocol. Permissionless participation through the Data Availability Committees (DACs) in HyveDA is the fundamental principle that underpins the organization. Traditional DACs typically rely on permissioned networks and centralized batch proposers. HyveDA, on the other hand, utilizes a permissionless DAC to ensure that anyone can contribute to the maintenance of data availability. Permissionless DACs eliminate the need for nodes to reach a consensus in order to participate. This makes scaling significantly simpler and enables significantly higher data throughputs at significantly lower costs. Hyve is a cutting-edge data availability solution that focuses on high-throughput, low-latency, and cost-effective DA. By demonstrating that Hyve is committed to and capable of resolving scalability issues related to DA, HyveDA is paving the way for the next generation of blockchain ecosystems and applications using blockchain technology. In order to cater to the requirements of applications that have exceptionally high data demands, such as DePIN, AI applications and rollups, parallel execution environments, and L2s, HyveDA was developed specifically to meet those requirements.
Overview of Important Developments on January 10th Noon
7:00-12:00 Keywords: ElizaOS, Renzo, Holoworld AI, Theta 1. ElizaOS is now live on Arbitrum; 2. Renzo announced the launch of re-staking token bzSOL; 3. CEOs of several crypto companies are currently seeking opportunities to meet with Trump personally; 4. Staking of Ethereum and Solana is no longer classified as a collective investment scheme in the UK; 5. CertiK Alert: Holoworld AI X account has been compromised, users should be cautious about security; 6. Theta announced its 2025 roadmap: Hybrid cloud-edge architecture for EdgeCloud to be launched in June.
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