- Rocket Pool (RPL) worth jumped greater than 30% to interrupt above $12.50 on Monday.
- The surge follows an announcement of assist for RPL perpetual contracts on Binance Futures.
Rocket Pool (RPL) worth rocketed because the crypto market reacted to the newest market information across the decentralised Ethereum (ETH) liquid staking protocol.
The staking function permits ETH holders to faucet into their holdings for an opportunity to earn yield. The staked Rocket Pool ETH token rETH permits customers to stake and earn rewards with as little as 0.1 ETH.
Rocket Pool surges amid Binance itemizing
RPL rose sharply to highs of $12.58 throughout main digital asset exchanges after the world’s largest crypto trade introduced the itemizing of Rocket Pool perpetual futures contracts.
In line with Binance, the launch USD-Margined RPL perpetual contract expands the buying and selling choices customers have. Binance Futures is ready to supply RPLUSDT contract ranging from 12:30 UTC on September 9, 2024. Merchants may have entry to as much as 75x leverage for the Rocket Pool futures, the trade famous.
Earlier within the day, RPL worth had struggled to under $10, with the final time the cryptocurrency traded above this degree being a quick surge to $10.07 on Sept. 6. Beneficial properties previously 24 hours have RPL worth retesting a essential downtrend line.
Because the chart above reveals, a descending channel has been in place for the reason that final week of August.
Rocket Pool’s worth traded throughout the vary since dropping from close to $16 on Aug. 23. This unfavorable outlook adopted RPL’s decline from highs of $32 in mid-June.