What Is RST Crypto? Why This New Token Is Suddenly on Traders’ Radar

Raini Studios Token (RST) crypto has suddenly rallied. The token is up roughly 22% over the past week and 14% in the last 24 hours alone, beating both the crypto market in general and the GameFi sector. In short, RST has jumped back onto people’s radar screens after a long period of obscurity.

Technically, RST is not a new token. It was issued in 2023 as the successor to RAINI. RST has a minuscule market capitalization on the order of $79,000 and a daily trading value also on the order of thousands of dollars. This makes its recent rally both notable and fragile.

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What Is RST Crypto?

Raini Studios Token is the cryptocurrency issued by Raini Studios, a Web3 gaming company that previously focused on the trading card game Raini: The Lords of Light .

RST originated from a 2023 conversion of RAINI. The token was converted at a 1:1 ratio, with the transition concluding in March 2024.

The token initially launched on Beam, the gaming-oriented Avalanche subnet, before being deployed on other blockchains as well through LayerZero bridges. It also had an initial issuance on Ethereum and Avalanche.