ResearchCoin (RSC) surged more than 15% on Wednesday after Coinbase announced it would list the token on its Base network, pushing the project into the spotlight. The rise came despite Coinbase officially distancing itself from ResearchHub, the platform behind the token — even though the project’s co-founder is none other than Coinbase CEO Brian Armstrong.
The price of RSC jumped from $0.67 to a high of $0.77, before correcting slightly to $0.76 by press time, according to CoinGecko. That marks a 99% increase since Coinbase first added ResearchCoin to its listing roadmap on July 25.
Coinbase emphasized that it is not affiliated with ResearchHub, stating the listing is part of its routine token review process on the Base Layer 2 network.
What Is ResearchCoin?
ResearchCoin (RSC) powers ResearchHub, a platform launched in 2019 by Brian Armstrong and scientist Patrick Joyce. It aims to decentralize scientific research by rewarding contributors who publish, review, and curate academic content. Users earn RSC based on the perceived value of their contributions, which can then be used to tip or reward others for peer reviews, Q&As, or research tasks.
The platform is built around the vision of an “academic town square” where collaboration replaces gatekeeping.
By removing traditional paywalls and journal restrictions, ResearchHub offers a Web3-native incentive structure for the scientific community.
Institutional Interest and Funding
ResearchHub has raised $7 million in funding to date. A $5 million seed round in 2023 was led by Open Source Software Capital, with backers including Boost VC, RedHat’s Bob Young, and Y Combinator’s Garry Tan. An additional $2 million investment was made earlier this year by Boost VC.
This growing backing from influential tech investors adds weight to the project’s long-term vision.
Market Outlook
RSC trading is set to begin on Coinbase on Thursday at 9 a.m. PT, depending on liquidity conditions. Despite Armstrong’s dual involvement, Coinbase maintains it had no direct input into the listing decision.
Still, investors are clearly responding to the visibility and credibility tied to Armstrong’s name and the platform’s mission.
If adoption of ResearchHub grows, RSC could evolve into a leading token in the Web3 academic and research space.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.