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Rocket Pool (RPL) Price Skyrockets 30% On This Binance Announcement
Rocket Pool, a decentralized Ethereum liquid staking pool, caught the eyes of crypto market traders and investors on Monday as its native token RPL price skyrocketed nearly 30%. Following an important listing update by crypto exchange Binance, the native token of the Ethereum liquid staking protocol set off bullish waves across the broader market. Meanwhile, crypto market enthusiasts speculate if the token could sustain an upward trajectory.
Binance Announces Rocket Pool Futures Listing
In an official Binance announcement dated September 9, the crypto exchange revealed that it is launching the RPLUSDT USD-Margined perpetual contract today at 12:30 UTC. Users on the platform can enjoy up to 75x leverage trading the asset.
The underlying asset remains the Ethereum liquid staking protocol Rocket Pool. Further, the capped funding rate was set at +2.00% / -2.00%. Additionally, the exchange revealed in its announcement that it will support Multi-Assets mode for the asset.
However, “Binance may adjust the specifications of the aforementioned Futures contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the exchange added. This announcement by the top crypto exchange appears to have sparked a tidal wave of optimism for Rocket Pool’s native token, as its price soared a whopping 30%.
RPL Price Soars 30%
At press time, RPL price jumped over 30% in the past 24 hours and is currently trading at $12.08. The token’s intraday low and high were $9.18 and $12.53, respectively. RPL’s 24-hour trading volume surged by a whopping 503.75% to $21.51 million today. This price upswing primarily aligns with Binance futures listing announcement on the token, driving investor curiosity.
Meanwhile, Coinglass data illustrated a whopping 413.18% surge in the token’s futures OI to $4.57 million at the time of reporting. Moreover, the derivatives volume surged 1766.45% to $16.20 million today. Rocket Pool currently rides an uptrend wave in the market, cementing investor optimism on future price movements with one of leading exchanges extending support to the project.
As seen previously, Coinage Media reported that NEIRO price soared phenomenally as the exchange unveiled futures listing for the token. The current RPL price upswing aligns with historical token performances post-listing.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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