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Crypto Traders Are Betting Big on This Token Thanks to a SEC Connection!

BBG News

Coinbase is adding Reserve Rights (RSR) to its list of tokens, which is just what the world needs—another coin to get excited about. RSR is a dual-token stablecoin platform that claims it’s going to create a self-regulating, collateral-backed stablecoin ecosystem. Just the kind of thing that sounds way too smart for most people. After the announcement, Binance’s ‘smart money’ traders have been buying in, apparently hoping that RSR will deliver their next big win.

Now, here’s where it gets spicy: incoming SEC Chair Paul Atkins was an advisor for RSR way back when. Don’t get too excited, though. He doesn’t have anything to do with it now, but people are still hoping that his name somehow means free money. Maybe the SEC is going to be nice to RSR, and maybe not. But hey, it’s a good story to tell at a party.

Coinbase Throws RSR into the Spotlight

RSR has been around since 2019, attempting to disrupt the stablecoin scene. It’s an ERC-20 token that’s supposed to help stabilize the Reserve stablecoin (RSV) at a solid $1 USD peg. The catch? RSR isn’t a stablecoin. It’s more like a back-up plan that provides governance and insurance. But don’t worry; it sounds complicated, and that’s why people love it.

In 2021, RSR had its moment in the sun, but like every cool coin, it faded away for a bit. Fast forward to 2024, and BAM—Coinbase drops the listing bomb, and suddenly RSR is up nearly 10%. That’s the kind of comeback story we all need right now.

Coinbase had teased this move almost three weeks ago, and guess what? People got *really* excited about it. If there’s one thing you can count on, it’s that Coinbase listings make people lose their minds, and RSR is no exception.

But wait, there’s more! While Coinbase is having its little moment, something odd is happening over on Binance. The so-called “smart money” traders are betting big on RSR. They’re all about those long positions. They must know something we don’t, right?

On Binance, the top traders have a ratio that shows the share of open positions they’ve longed. Right now, that number is a hefty 65.48%, which means these big players are betting that RSR’s price will continue its upward trend. Talk about confidence!

Of course, the real reason people are buzzing about RSR is its association with Paul Atkins. Yes, the incoming SEC Chair. He was one of the original advisors for RSR, but don’t go planning your victory party just yet—Atkins hasn’t been actively involved in the project for some time. Still, the crypto world is great at building up narratives, and this one’s got some legs.

After Atkins sailed through his confirmation hearing, RSR saw a 22% spike. Sure, he hasn’t technically taken the SEC Chair yet, but traders are clearly betting on him being a crypto-friendly hero. Who knows? Maybe he’ll rewrite the rules and make everyone rich.

Atkins has made promises to bring crypto reform to the SEC, and well, people are banking on the idea that those reforms will somehow benefit his old pals in the crypto space. Is it a stretch? Maybe. Is it a fun story? Absolutely.

No one’s saying Atkins is going to break the law and magically make RSR the next Bitcoin. But if you’ve been following the money trail, you know that political connections have a way of making things… interesting. Think Trump’s family and their crypto escapades. If it worked for them, why not for RSR?

For now, the story is just that—a story. But with market narratives playing such a huge role, RSR might keep riding this wave of indirect (and possibly unjustified) hype for a while. So, buckle up, because the ride’s just beginning.

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2025-04-21 23:59

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