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Rocket Pool (RPL) saw its price surge by nearly 30% after Binance announced the launch of RPLUSDT USD-Margined perpetual futures, offering traders up to 75x leverage. Trading began today at 12:30 UTC.
Rocket Pool (RPL) Price Jumps 30%
Binance, the cryptocurrency exchange, announced on September 9 that today, at 12:30 UTC, it will introduce the RPLUSDT USD-Margined perpetual contract. When trading this asset on the platform, users have access to leverage levels of up to 75x.
The Rocket Pool Ethereum liquid staking protocol continues to be the underlying asset. In addition, the maximum allowable funding rate is 2.00% plus or minus 2.00%. In addition, the notification from the exchange confirmed that it will be able to support the asset in Multi-Assets mode.
Binance May Adjust Futures Specifications
"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 additionaly noted.
The native token of Rocket Pool had a tremendous 30% increase in price after this statement by the leading cryptocurrency exchange, according to Coingape's explanation.
The price of RPL has surged by more than 30% in the last 24 hours, and it is now trading at $12.08. The low point of the token's intraday was $9.18, while the high point was $12.53.
RPL Trading Volume Hits Record High
Today, RPL's 24-hour trading volume reached $21.51 million, an all-time high. Investors are becoming increasingly curious as the price surge coincides with the announcement of the token's launch on Binance Futures.
Coinglass data showed that the token's futures OI surged by an astounding 413.18% to $4.57 million when the article was made. The amount of futures also increased today, by 1,766.4 percent, to $16.20 million.
