- 1kx prepares for major RPL sale
- Binance's role in RPL price surge
- Current Rocket Pool and Ethereum metrics
Investment firm 1kx is considering selling a significant portion of its Rocket Pool (RPL) holdings after the token's price surged following its listing on Binance.
1kx prepares for major RPL sale
According to data shared by Spot On Chain, 1kx previously deposited over 203,000 RPL tokens worth approximately $2.37 million. The firm, being an early investor in Rocket Pool, received around 500,000 tokens in December 2020 at a price of $2.56 per token. Since August 29, 1kx has deposited 313,739 RPL tokens worth $3.7 million on Binance. As of the time of writing, a wallet linked to the firm holds 315,835 RPL tokens, with an approximate value of $3.62 million.
Binance's role in RPL price surge
Binance announced a new USD-margined perpetual RPLUSDT contract, offering up to 75x leverage for traders. With a set funding rate of +2.00% / -2.00%, traders are watching closely. The Multi-Assets mode provides additional flexibility. Binance may also adjust contract specs, including leverage and funding rates, as needed.
Current Rocket Pool and Ethereum metrics
At the time of publication, RPL is trading at an average price of $11.60, though still 92% below its all-time high of $154.73 recorded on November 16, 2021. However, its 24-hour trading volume surged by 1,624% to $50.3 million. Ethereum also showed a positive trend, rising by 2.6% over the last 24 hours to $2,346.
Rocket Pool shows significant growth after its listing on Binance, attracting the attention of major investors such as 1kx. Increased activity and trading volume highlight the significance of this event for the cryptocurrency market.
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