Binance Triggers Temporary Explosion for Ethereum Staking Altcoin After Announcing Surprise Support

Binance Triggers Temporary Explosion for Ethereum Staking Altcoin After Announcing Surprise Support


An altcoin staking project built on Ethereum (ETH) is exploding in value after a surprise listing on the world’s largest crypto exchange, Binance.

Binance abruptly announced listing Rocket Pool (RPL) on the exchange’s Innovation Zone, a trading space dedicated to crypto assets more prone to price volatility.

Rocket Pool is a decentralized Ethereum staking pool intended to lower capital and hardware needs to stake on ETH 2.0. The RPL token is used for governance and collateral.

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On the day Binance announced the listing, the token shot up in price by about 60%, from the day’s low of about $30 to a high of $47.59.

The value of RPL has since dipped, changing hands at $33.10 at time of writing.

Binance’s listing comes about a month

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