RIZE, the native token of the RWA tokenization project T-RIZE, experienced a significant price drop just one day after being listed on major exchanges. According to CoinGecko, RIZE plummeted by nearly 48% within a 24-hour period, trading at around $0.046 on May 16. This decline came shortly after RIZE secured a listing on Kraken, a tier-1 centralized exchange, on May 15 at 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. In addition to Kraken, RIZE also gained listings on the decentralized exchange Aerodrome and DEX aggregator Matcha (Base).
Following the TGE, RIZE had a reported circulating supply of $27 million, with a total max supply of 5 billion tokens. A portion of the tokens (4% or 200 million tokens) was allocated for airdrops, but these are currently locked with a 1-month cliff and 6-month vesting period, preventing recipients from selling immediately.
Private sale investors, who received 7% of the total supply (around 350 million tokens), faced no lockup or vesting restrictions, allowing them to trade their tokens right after launch. This unrestricted access likely contributed to the initial sell-off and sharp decline in RIZE’s price.
Other large allocations, such as liquidity and treasury (each 10%), also had no restrictions, potentially adding to the early market pressure. Seed and growth investors face a 6-month cliff, while the team’s share (14%) is locked for 2 years. Governance tokens will unlock gradually over three years after a 12-month cliff.
While sell-offs are common in the crypto space, particularly during TGEs on major exchanges, public interest in RIZE remained high despite the price drop. This interest could attract new buyers and help offset some of the selling pressure.
RIZE is the native token of T-RIZE Group, a project focused on tokenizing real-world assets like real estate and infrastructure. Running on Rizenet, a Layer 1 blockchain built on Avalanche, RIZE facilitates governance, gas fees, and access to exclusive investment opportunities. It also supports federated learning, enabling collaboration on data without compromising privacy.
T-RIZE Group, headquartered in Montreal, Canada, has already secured a $300 million tokenization deal and is backed by major players in the industry. While the recent price drop may have caused some concern, the project’s long-term potential and strong partnerships indicate a promising future for RIZE.
Please note that this article is for educational purposes only and does not constitute investment advice.