- The worth of Rocket Pool (RPL) jumped greater than 30% to achieve above $12.50 on Monday.
- The rise follows the announcement of help for everlasting RPL contracts on Binance Futures.
The worth of Rocket Pool (RPL) skyrocketed because the crypto market reacted to the most recent market information concerning the decentralized Ethereum (ETH) liquid staking protocol.
The staking characteristic permits ETH holders to leverage their holdings for an opportunity to earn a return. Staked Rocket Pool ETH token rETH permits customers to wager and get rewards for as little as 0.1 ETH.
Rocket Pool Grows Amidst Binance Providing
RPL surged to a excessive of $12.58 on main digital asset exchanges after the world's largest crypto trade introduced the itemizing of everlasting Rocket Pool futures contracts.
In response to Binance, the launch of a everlasting RPL contract with USD margin expands the buying and selling choices accessible to customers. Binance Futures presents the RPLUSDT contract beginning September 9, 2024 at 12:30 UTC. Merchants may have entry to as much as 75x leverage for Rocket Pool futures, the trade famous.
Earlier within the day, the worth of RPL struggled under $10, with the final time the cryptocurrency traded above that stage on September 6, when it briefly rose to $10.07. Good points over the previous 24 hours have seen RPL value retest the essential downtrend line.
Because the chart above reveals, a descending channel has been in place for the reason that final week of August.
The worth of Rocket Pool has traded on this vary since falling from practically $16 on August 23. This damaging outlook adopted RPL's decline from highs of $32 in mid-June.
