Here’s why RIZE crypto is down over 40% today
RIZE, the native token of the RWA tokenization project T-RIZE, saw a steep price drop just a day after going live on major exchanges.
According to CoinGecko, RIZE plunged nearly 48% in 24 hours, trading around $0.046 as of May 16 morning Asian time. The price action follows just a day after RIZE secured a listing on tier-1 centralized exchange Kraken on May 15, 15:00 UTC, coinciding with its Token Generation Event (TGE) and mainnet launch.
The token was launched on the Base blockchain, an Ethereum Layer 2 network developed by Coinbase.
Alongside Kraken, the token also secured a listing on the decentralised exchange Aerodrome and DEX aggregator Matcha (Base).
Following the TGE, the token had a reported…
