RSR price climbs 13% after $0.008 Coinbase debut

The Reserve Rights (CRYPTO:RSR) token recorded a 13.6% price increase following its listing on Coinbase, reaching a near two-month high of $0.00835 on April 22, according to CoinGecko data.

The surge coincided with the official swearing-in of Paul Atkins as the new chairman of the U.S. Securities and Exchange Commission.

Atkins previously served as an adviser to the Reserve Protocol stablecoin project, which launched the RSR governance token in 2019.

“Paul is not currently actively involved in advising Reserve; he was an early advisor to the project. Yet, in our interactions, his open-mindedness impressed me, and his willingness to be publicly associated with Reserve as an advisor indicates his commitment and support for the cryptocurrency space,” clarified Reserve Protocol CEO Nevin Freeman.

The RSR token is designed to help maintain the stability of the Reserve Dollar (RSV), the protocol’s stablecoin.

Coinbase announced on April 21 that it would list RSR on the Ethereum layer-2 network Base, with trading beginning April 22 at 9 a.m. Pacific Time.

Prior to Atkins’ swearing-in, RSR had already experienced double-digit gains.

Market data shows that RSR currently ranks as the 143rd largest cryptocurrency by market capitalisation, valued at approximately $464 million.

“I will be focused on ensuring the US is the best and most secure place in the world to invest and do business,” stated Atkins, who was confirmed as SEC chair by the Senate in a 52-44 vote on April 9, while also emphasising the importance of consumer protection.

Atkins succeeds Mark Uyeda, who served as acting chair following Gary Gensler’s departure.

Following the change in SEC leadership, the agency has created a Crypto Task Force and dropped several crypto-related investigations, signaling a shift in regulatory approach.

Atkins has indicated his intention to provide a “rational, coherent and principled approach” to crypto regulation, according to statements made during his Senate confirmation hearing.

At the time of reporting, the Reserve Rights (RSR) price was $0.008267.