- The worth of Rocketpool (RPL) rose greater than 30% on Monday to surpass $12.50.
- The surge got here following the announcement of help for the RPL perpetual contract on Binance Futures.
Rocketpool (RPL) costs have surged because the crypto market reacts to the newest market information a few decentralized Ethereum (ETH) liquidity staking protocol.
The staking characteristic provides ETH holders the chance to leverage their holdings and earn a yield. The staked Rocket Pool ETH token, rETH, permits customers to stake and earn rewards with as little as 0.1 ETH.
Rocketpool surges after itemizing on Binance
RPL surged to a excessive of $12.58 throughout main digital asset exchanges after the world's largest cryptocurrency change introduced the itemizing of Rocket Pool's perpetual futures contract.
In response to Binance, the launch of the USD Margined RPL perpetual contract will develop buying and selling choices for customers. Binance Futures will begin providing the RPL USDT contract from 12:30 UTC on September 9, 2024. Merchants will have the ability to use as much as 75x leverage on Rocket Pool futures, the change famous.
On the identical day, RPL worth had dipped under $10, the final time it traded above this stage was on September 6 when it spiked to $10.07. The rally over the previous 24 hours has seen RPL worth retest a key descending development line.
Because the chart above reveals, a descending channel has been forming because the final week of August.
Rocketpool shares have been buying and selling in a variety since declining from close to $16 on Aug. 23. The damaging outlook comes after RPL has fallen from a excessive of $32 in mid-June.
