Cryptocurrency prices have remained in a consolidation phase in the past few weeks. Bitcoin has been stagnant at $20,000 while ETH has stayed at $1,300. This trend has frustrated traders who prefer highly volatile periods. Here are some of the top undervalued cryptocurrencies to trade this week.
Reserve Rights Token (RSR)
Reserve Rights Token or RSR is the native cryptocurrency for the Reserve ecosystem. The developers have created a stablecoin that is backed by a basket of other stablecoins like Tether and USD Coin. The network is backed by well-known players like Peter Thiel, Coinbase, and Sam Altman among others.
RSR price has become relatively volatile in the past few days as investors wait for the upcoming mainnet launch, which will happen this month. It was trading at $0.0096 on Tuesday, which was slightly below this month’s high of $0.010. It has risen by more than 195% from its lowest level this year.
Therefore, there is a likelihood that Reserve Rights will continue being volatile this week, making it ideal for day trading.
How to buy Reserve Rights Token
Binance is one of the lar
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