Rocket

Million

Rocket Pool

Spot

<ul class="list-ic vertical"> 
 <li> 1 <a>A proposal to rework tokenomics, including staking ETH for nodes and RPL withdrawal addresses, was shared on X.</a> </li> 
 <li> 2 <a>The upcoming Houston upgrade on June 17th will introduce a pDAO and new features.</a> </li> 
</ul> 
Rocket Pool (RPL) is an ETH-based Proof of Stake pool designed to be compatible with Casper, known as Ethereum’s updated consensus protocol. The native token of Rocket Pool is RPL, which plays a fuel-like crucial role in the platform’s distributed staking network. 
On June 14th, the RPL price surged nearly around 100%, which started from a price of $18.41 and flew towards $36.23. However, the spike was unstable due to profit bookers grabbing the opportunity and began booking.&nbsp; 
This was depicted by the candle of June 14th, where the candle formed a large wick, where its gains only remained at 25%, as the candle gave a closing at $24.13. 
<h2 class="wp-block-heading" id="strong-spot-and-derivatives-volumes-are-massively-high-strong">Spot and Derivatives Volumes are Massively High!</h2> 
Furthermore, RPL crypto optimized by 25.72% in market value and an extremely strong increase of 3927% in trading volume in the last 24 hours, as per the CoinMarketCap. Its market value is $503.692 Million, and its trading volume amounted to $180.758 Million.&nbsp; 
There are 20.445 Million in circulation, with plenty of liquidity in the market, as the volume to market cap percentage is 35.48%. 
Derivative data analysis shows that derivative volume showed a tremendous rise of 16810%, which amounted to $116.03 Million, and open interest was $7.55 Million. As per CoinGlass, it rose by 488.48% in the previous session.&nbsp; 
The long versus short ratio for 24 hours is 1.0396. The short liquidation is $87.12K versus $25.36K for the long liquidation. 
<h3 class="wp-block-heading" id="strong-what-drove-a-tremendous-surge-in-rocketpool-rpl-strong">What Drove a Tremendous Surge in Rocketpool (RPL)?</h3> 
Traders and investors might be curious about what drove this tremendous rise in the price and volume of RPL. 
According to Wise Advice’s optimistic post on X, there is a proposal for reworking its tokenomics in its ecosystem. They are introducing key features like staking ETH on behalf of nodes and adding RPL withdrawal addresses. 
Meanwhile, he also stated that RPL would no longer act as a collateral token and would instead directly capture the value. A major upgrade is on the horizon, as the RPL’s Houston upgrade is coming on June 17th. 
<center>
 <blockquote class="twitter-tweet">
 𝗥𝗣𝗟, 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝗴𝗮𝗶𝗻𝗲𝗿 𝗼𝗳 <a href="https://twitter.com/hashtag/%F0%9D%97%95%F0%9D%97%B6%F0%9D%97%BB%F0%9D%97%AE%F0%9D%97%BB%F0%9D%97%B0%F0%9D%97%B2?src=hash&amp;ref_src=twsrc%5Etfw">#𝗕𝗶𝗻𝗮𝗻𝗰𝗲</a>, 𝗶𝘀 𝘂𝗽 𝟭𝟬𝟬% 𝘁𝗼𝗱𝗮𝘆 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Why is this going bonkers? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> There is a proposal to rework its tokenomics. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24RPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RPL</a> will no longer act as a collateral token and will instead directly capture value. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/8rh3cmqxcg">pic.twitter.com/8rh3cmqxcg</a>— Wise Advice (@wiseadvicesumit) <a href="https://twitter.com/wiseadvicesumit/status/1801653476637949957?ref_src=twsrc%5Etfw">June 14, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Behind the pump, the analyst stated these possible factors for the price optimism in RPL. 
<h3 class="wp-block-heading" id="strong-what-is-the-houston-upgrade-strong">What is the Houston Upgrade?</h3> 
The Houston upgrade aimed to introduce a fully on-chain DAO (pDAO) for Rocket Pool, eliminating the need for third-party tools and enabling direct governance. It also allows ETH staking on behalf of nodes, adds a new RPL withdrawal address feature, and includes a security council.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="455" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-1024x455.png" alt="RPL" class="wp-image-208764" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-1024x455.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-300x133.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-768x341.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-1536x683.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-750x333.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172-1140x507.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-172.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
The Houston Upgrade | By docs.rocketpool.net 
Houston has been deployed to the Holesky testnet and is available for testing. 
<h3 class="wp-block-heading" id="strong-rocketpool-rpl-price-forecast-on-daily-chart-strong">RocketPool (RPL) Price Forecast on Daily Chart?</h3> 
At press time, on 15th June, the <a href="https://www.thecoinrepublic.com/2023/12/28/rocket-pool-price-rpl-crypto-forecast-for-2025-and-beyond/" target="_blank" rel="noreferrer noopener">RPL crypto </a>has experienced a surge of 1.57% in the last 24 hours and has been trading at $24.51. 
Therefore, if the demand remains high, the RPL asset price could bounce back from the current level. The next target for the price is to reach $27.0 and $32.0.  
<a href="https://in.tradingview.com/chart/RPLUSD/m2iKf1S5-demand-for-the-remains-high/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
However, it could decline further if the RPL crypto price fails to stay above the $21.0 and $18.0 levels. 
<h4 class="wp-block-heading">Summary</h4> 
Rocket Pool (RPL) is an ETH-based Proof of Stake pool designed for Casper, Ethereum’s updated consensus protocol. The RPL token price surged almost 100% on June 14th, reaching $36.23 but eventually settling at $24.13. Market data showed a 25.72% increase in value and a 3927% rise in trading volume.&nbsp; 
Furthermore, A proposal to rework tokenomics, including staking ETH for nodes and RPL withdrawal addresses, was shared. The upcoming Houston upgrade on June 17th will introduce a pDAO and new features. Trading at $24.51 on June 15th, the future price targets are $27.0 and $32.0. 
<h4 class="wp-block-heading">Disclaimer</h4> 
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Will Rocketpool (RPL) Keep Surging Or Face Volatility Ahead?

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