The prices of cryptocurrencies Highstreet (HIGH) and Renzo (REZ) have been soaring lately, with HIGH spiking over 20% and REZ up more than 5% today alone. Many investors and crypto enthusiasts may be wondering what is fueling these price surges.
In the following paragraphs, we will examine the key factors driving the bullish momentum behind Highstreet and Renzo, exploring the developments and catalysts propelling their recent ascent.
What you'll learn 👉
Highstreet’s Trend Continuation
The price of HIGH has continued its remarkable upward trajectory after a brief period of retracement. Strong support around $3.3 prevented the price from breaking below, and three days ago it resumed its bullish momentum.
Since October 2023, HIGH has skyrocketed from $1 to $4, representing a 300% increase over just seven months, with only minor periods of consolidation along the way.
One factor driving HIGH’s ascent is growing interest in the solutions offered by the project. HIGH Token is the native cryptocurrency of a decentralized, commerce-centric play-to-earn metaverse with virtual reality (VR) support. In addition to facilitating two-way currency flows between physical and virtual worlds, Highstreet introduces a market where in-game items can be redeemed for real-life products.
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The Highstreet team has been actively working on various developments, including VR implementation and unveiling concept art that delves into the project’s lore. Teasing an upcoming live VR event in Hong Kong on May 8, the team has promised to showcase the adventure mobility system, encouraging attendees to “climb, duck, slide, and much much more!”
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Show more +Renzo Spikes Following Launch
Meanwhile, Renzo (REZ) has seen its price pump amid increased attention, partly fueled by misleading claims about the token’s availability on decentralized exchanges. While the team had to clarify that REZ was only tradable on the Ethereum mainnet, with no DEX listings yet announced, the resulting speculation has likely contributed to the token’s recent gains.
However, a major catalyst for REZ’s price surge was its recent launch on Binance. After being incorporated into Binance’s Launchpool, REZ was listed on the exchange on April 30, with trading pairs including REZ/BTC, REZ/USDT, REZ/BNB, and REZ/FDUSD.
Looking ahead, the Renzo team has outlined plans for ezETH withdrawals, Season 2 incentives, EIGEN and AVSs rewards, governance implementation, and partnership announcements as they continue building the “fastest-growing liquid restaking protocol.”
Additionally, Renzo has launched a smart contract audit competition with a $112,500 prize pool, seeking to enhance the security of their protocol through community involvement.
As developments unfold for both Highstreet and Renzo, cryptocurrency enthusiasts and investors alike will be watching these projects closely in the coming months.
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