REZ, the native token of Renzo Protocol, rose by more than 71% over the past seven days. The token traded at $0.01512 at last check. The price increase followed the launch of Flow Vaults, a new feature on EigenLayer developed with support from Renzo and Concrete.
Flow Vaults now allow users to restake ERC-20 tokens, including assets from Ethereum Layer-2 networks. Before this upgrade, EigenLayer only supported ETH restaking. Now, projects and users can restake a wider range of assets and still receive liquid tokens in return. These tokens grow automatically through reward compounding and can be used across DeFi protocols.
Vault Creators Can Control Assets, Terms, and Validators
Each Flow Vault can be customized by the creator. Creators can choose which token to accept, which validators to use, and how long deposits stay locked. This flexibility lets DAOs, funds, and projects launch their own vaults without writing code from scratch.
The Flow Vault framework also includes tools for institutional users. These tools include identity verification, whitelisting, reporting features, and support for custody services. These additions allow regulated entities to join the EigenLayer network while meeting compliance requirements. Renzo provides the technical backend for vault creation, while Concrete supports custody and audit layers.
EigenLayer also launched restaking bonds. These are fixed-term instruments that offer fixed rewards. Validators can create these bonds through Flow Vaults. They are meant to give restakers more predictable returns, using a structure similar to traditional finance.
REZ Breaks Downtrend and Clears $0.013 Resistance
REZ price broke above a downward trendline that had been in place since early April. The breakout happened on strong volume and was followed by two daily closes above the previous resistance level at $0.013. The price is now trading above the 20, 50, 100, and 200-day exponential moving averages, which shows strong upward momentum.
The daily relative strength index (RSI) is at 73.84. This suggests that Renzo’s REZ has entered overbought territory. However, the price continues to trade above its breakout zone, showing that buyers are still in control. If the price holds above $0.013, the next area to watch is between $0.018 and $0.020, last seen in April.
REZ saw a sharp increase in trading activity following the product release. Daily trading volume rose to $326.79 million, an increase of over 1,500% compared to the previous day. The price broke through recent resistance levels and reached its highest point in weeks.
Renzo continued its regular buyback program during the week. The protocol bought back 1.38 million REZ tokens and compounded them into the staking pool. This reduced the available supply in the market and supported upward pressure on the token’s price.