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Reserve Rights (RSR) gains 300% as stablecoins gain regulatory approval

Global stablecoin adoption and uncontrolled hyperinflation in Venezuela and Argentina have helped push Reserve Rights to a new all-time high.
Non-fungible tokens and high-yielding decentralized finance platforms have been the focus of attention in the cryptocurrency sector for the past few months. This intense focus on NFTs, DeFi and Bitcoin’s price action means that some investors have glossed over the fact that it was a series of positive developments in stablecoins that helped kick off the 2021 bull market.One project that has  quietly amassed significant gains this year is Reserve Rights (RSR), a dual-token stablecoin platform where all the tokens are backed by a basket of smart contract-managed cryptocurrencies.Data from Cointelegraph Markets and TradingView shows that RSR has increased by more than 320% since Jan. 1, going from $0.0196 to a new all-time high of $0.829 on March 8 as the project prepares to expand its services to new regions.RSR/USDT 4-hour chart. Source: TradingViewThree reasons for the strong growth RSR has seen in 2021 are the global adoption of stablecoins as a viable payment medium, worsening global financial conditions leading to hyperinflation in the countries where Reserve Rights focuses its operations and optimism surrounding RSR’s mainnet launch and several major upcoming developments. Stablecoins get the stamp of approvalOn January 4 the United States Treasury’s Office of the Comptroller of the Currency announced that banks would be allowed to run independent nodes for distributed ledger networks and transact in stablecoins. Since the approval, stablecoin projects like Reserve Rights, MakerDAO (MKR), Terra (Luna) and Curve DAO ( …
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