- Rocket Pool (RPL) price 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) price rocketed because the crypto market reacted to the most recent 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 keeping with Binance, the launch USD-Margined RPL perpetual contract expands the buying and selling choices customers have. Binance Futures is about to supply RPLUSDT contract ranging from 12:30 UTC on September 9, 2024. Merchants may have entry to up to 75x leverage for the Rocket Pool futures, the trade famous.
Earlier within the day, RPL price had struggled to beneath $10, with the final time the cryptocurrency traded above this stage being a quick surge to $10.07 on Sept. 6. Good points up to now 24 hours have RPL price retesting a crucial downtrend line.
Because the chart above exhibits, a descending channel has been in place for the reason that final week of August.
Rocket Pool’s price traded inside the vary since dropping from close to $16 on Aug. 23. This damaging outlook adopted RPL’s decline from highs of $32 in mid-June.