Rocket Pool

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The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back in November 2022. 
However, the governance token of the platform, AAVE, has not responded either positively or negatively. According to data from CoinGecko, the token registered losses in the daily and weekly time frames. But these losses are too miniscule to revert the token’s gains from the start of the year. 
 With the launch of AAVE’s V3 on its mainnet, the crypto might be in a position to tally new highs if the situation permits it. 

The Gist Of The Proposal & On-Chain Developments
Based on the proposal, the token has over 2,677,749 units of CRV in debt on its Ethereum V2 CRV reserve. This is worth, at the date of the proposal, over $2.5 million. The proposal would use V2’s stablecoin reserve to buy the necessary number of units of CRV to pay the debt.
This obviously was accepted by the community positively, being implemented immediately by January 25th. This would reverse the damage of the exploit attempt, proving the liquidity of the protocol. 
The deployment of AAVE’s V3 on Ethereum was also implemented. According to DefiLlama, the crypto is in the top 4 among all platforms. AAVE V3, the Ethereum pool deployment, has over $526.52 million total value locked. 

At $86.02, What’s In Store For AAVE? 
The token is currently consolidating around the $85.8 support range. This could be a sign that the token still has room to regain lost ground from 2022’s bear market. However, this can only be achieved if the token closes with a green candle to continue AAVE’s rally when the year started. 
Investors and traders should target the token’s current resistance at $90.15. If the bulls can consolidate at the token’s present support, we can see an upward push towards $94.70. 




Investors should also monitor the token’s correlation with Bitcoin and Ethereum as these would have a big influence on its price movement in the short to medium term. 
As these major cryptocurrencies retest their crucial resistances, a breakthrough by either one or both of these coins would boost AAVE’s momentum to regain lost ground. 
With this in mind, investors and traders should exercise caution in the short to medium term as the token can still be clawed by the bears to revert back to $78.65.
Featured image by Kanalcoin.com


The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back...

newsbtc.com

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles?

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.
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 after top US crypto exchange Coinbase announced it was listing RPL.
When a token is listed by Binance, its price is frequently driven higher.
A study by crypto researcher Ren & Heinrich looked at 26 tokens added to Binance’s exchange for trade in the past 18 months. On average, prices of the tokens briefly rallied by an average of 41%.
The report found that after initial surges on the day of listings, price rises usually cooled off with the increase dropping to 24%.
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The post Binance Triggers Temporary Explosion for Ethereum Staking Altcoin After Announcing Surprise Support appeared first on The Daily Hodl.


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...

dailyhodl.com

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


Rocket Pool’s RPL token shot up in price after Binance announced it would list the token in its Innovation Zone. The ETH liquid staking solution project has been making a name for itself, though it lags behind Lido.



Ethereum liquid staking project Rocket Pool’s RPL token has skyrocketed following a Binance announcement that it would be listed. The exchange stated that it would list the token in the Innovation Zone, opening trading for the token on Jan. 18. Besides being available for trading using BTC, BUSD, and USDT, the token is also listed for margin trading.




#Binance will list @Rocket_Pool $RPL in the Innovation Zone. https://t.co/RzkGibwpVU pic.twitter.com/4ZHN7u1aFQ— Binance (@binance) January 18, 2023




Rocket Pool saw a price bump of over 50% following the news, though it has since dropped by about 20%. The token is now trading at around $33.70. The trading volume for RPL has also experienced a massive increase, up by about 180% to $90 million. Predictably, a lot of that volume comes from Binance.



RPL Chart by TradingView



Binance’s Innovation Zone is a hub for traders to work with newer tokens with some safeguards that mitigate the risk that comes from these assets. Volatility is a good example of these tokens, and the Binance team checks if the traders understand the risks involved with these new tokens.



The Innovation Zone is intended for traders who want to be able to get in on new projects early. It comes with a set of risks, but the reward can also be higher if it is a truly successful project.



Rocket Pool’s Liquid Staking Growing



Rocket Pool is a project that has been making a name for itself as a decentralized ETH liquid staking derivative provider. It offers easier entry into Ethereum staking, reducing the amount of capital needed for the process. Users can stake their ETH to wards node operators, granting them rETH, which represents their stake. The RPL token is used for network insurance collateral and governance purposes.



ETH2 Liquid Staking: Dune



Rocket Pool is third behind Lido and Coinbase as a liquid staking solution provider. The latter holds the biggest market share in this niche, with 75.6% of all staked ETH. Rocket Pool holds 3.5% of the pool, far behind the top two.



Shanghai Upgrade Has Stakers Excited



Liquid staking is becoming a hot topic as the Ethereum Shanghai upgrade approaches. The upgrade will be out in March, allowing stakers to unstake their ETH. It’s a significant move for the network, which has not allowed validators to unstake their holdings. Stakers will be happy that they can withdraw the 32 ETH they put in, which is a hefty sum.



Meanwhile, MetaMask is also offering liquid staking features as it now features integration with Lido and Rocket Pool. This will surely see more ETH come onto the network for staking, as the integration makes participating much more convenient.
The post Rocket Pool Token (RPL) Goes Berserk Post Binance Listing appeared first on BeInCrypto.


Ethereum liquid staking project Rocket Pool’s RPL token has skyrocketed following a Binance announcement that it would be listed.
The post Rocket Pool Token (RPL) Goes Berserk Post Binance Listing appeared first on BeInCrypto.


beincrypto.com

Rocket Pool Token (RPL) Goes Berserk Post Binance Listing

Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. Rick McCracken, the owner of the ADA staking pool, DIGI, and also a Cardano supporter, did not hesitate to make his findings and prediction known via his Twitter handle.
Recall there was an announcement earlier on Djed’s official Twitter handle on January 14, affirming that the stablecoin’s launch this month remains on track. Furthermore, as per COTI Network’s announcement on January 5, the soon-to-launch stablecoin bagged a new partnership with Yepple Incorporated.

The partnership aims to ensure optimal usage of Djed in the Cardano ecosystem. It would also promote the integration of the payment for NFT transactions using Djed.
Djed To Go Live Along With New Stablecoin Payment App, DjedPay
Djed is Cardano’s first ADA-backed stablecoin powered by COTI Network. It is an over-centralized stablecoin with a collateral rate between 400-800%, according to the description on adapulse.io.
According to the CEO of the COTI Network, Shahaf Bar-Geffen, in addition to ADA backing, Djed will also have another token to protect it against exposure to ADA’s volatility.
SHEN would act as the stablecoin’s reserve currency, maintaining its price stability to ensure the 400-800% collateral guarantee against price fluctuations.
The stablecoin’s testnet version was initially launched in December 2022. Djed’s official website revealed that its value is currently 2.94 ADA, with a supply of 676,496 tokens.
McCracken’s prediction of the mainnet launch goes in line with the developers’ initial announcement. According to them, Djed would go live on the mainnet later in January. McCracken also revealed the new Djed stablecoin is now worth $1.019 on the test network.
In addition to the mainnet launch, a payment platform for Djed called DjedPay would launch at the same time. According to the official Twitter announcement, DjedPay is a platform that would offer Djed-powered payments by traders and organizations.
However, COTI is still trying to secure more partnerships to scale the stablecoins algorithmic adoption.

Meanwhile, news of this development, among others, pushed ADA prices over the past few days. According to data from TradingView, ADA has added over 38% in the last 14 days and 11.1% in the past seven days. The cryptocurrency trades at $0.035235, with a 24-hour price gain of 1.3%.

Cardano Releases New ADA Wallet Update
In another development, the ADA community recently saw a new upgrade in Cardano’s Daedalus wallet, Daedalus 5.2.0. Input Output Global (IOG), the company behind Cardano, announced the launch of Daedalus 5.2.0 via a tweet on January 16.
Daedalus wallet is the official desktop wallet for ADA developed by IOG. The new wallet version is compatible with Cardano node version 1.35.4 and wallet version 2022.12.14.
The release of Daedalus 5.2.0 automatically updates the ProjectCatalyst API URL to a new URL. Also, the upgrade included Bryon Wallet tracking capability and aggregates of similar RAM sizes to allow for swift data analysis.
Furthermore, Cardano’s Bryon era (the first phase on the Cardano Roadmap) received a delivery of the Daedalus wallet and Yoroi wallet. Yoroi is a light wallet designed by Emurgo, IOG’s sister company, that offers users access to ADA quick day-to-day transactions on their mobile phones.



Based on a discovery from a new stablecoin test of Cardano, Rick McCracken has predicted a close launch date for Djed mainnet. Rick McCracken, the owner of the ADA staking pool, DIGI, and also a Cardano supporter, did not hesitate to make his findings and prediction known via his Twitter handle. ...

Rick McCracken Predicts Mainnet Launch For Djed, A Cardano Stablecoin

Trackers on January 18 show that the native token of Rocket Pool, RPL, rallied 55% and is among one of the top performers in the top 100 coins by market capitalization.
Rocket Pool is Rallying after Binance Listing
The surge coincides with RPL’s listing on Binance, the world’s largest cryptocurrency exchange by trading volume. The token is paired against USDT, the stablecoin issued by Tether Holdings, which is also the most liquid in crypto circles, and BUSD.

However, the surge registered earlier today has since been reversed. Data showed that the project’s market cap is $675.1 million, and RPL is up 9% versus the USDT. At the same time, it outperforms bitcoin (BTC) and ethereum (ETH), adding roughly 10% versus the top most liquid cryptocurrencies.

Listing on Binance opens the token to more liquidity, allowing traders and investors who might not be familiar with the intricacies of DeFi trading to purchase the token. Before being availed on Binance, RPL was available for trading in most decentralized exchanges, including Uniswap, Bancor, and Balancer. However, RPL had been listed in exchanges within the United States, including Huobi, Coinbase, Kraken, and MEXC Global. 

Hard work of the @Rocket_Pool team paying off with a @binance listing today. A project we have remained bullish on for many years with $RPL up 100x since first covering. The next market cycle is now about decentralising all layers of the $ETH stack. 
— Alex Saunders  (@AlexSaundersAU) January 18, 2023

By springing to spot levels and clearing immediate liquidation zones, printing new monthly highs, it can be interpreted that the community received the listing positively, expecting more developments in the next few months. This can be especially the case considering the market’s state and Rocket Pool’s role in Ethereum.

After the slumps of 2022, RPL, like most crypto and DeFi tokens, fell from record highs. As an illustration, RPL tanked 76% from April highs, bottoming up in mid-June before rallying to spot levels. Despite the blips of early November, triggered by market-wide fears of FTX and Alameda’s collapse, RPL is back to April’s territory. 
Improving Macroeconomic Factors and Shanghai Upgrade
The sharp reversal and change in fortunes for RPL can be attributed to various fundamental factors. At the top of the list, possibly explaining the rise across the financial markets is shifting macroeconomic factors. 
Statistics indicate that inflation is falling from multi-year highs, influencing central banks’ decisions on implementing their monetary policies. The confidence amongst investors and traders spilled over the crypto, helping pump BTC and altcoins, including RPL.
Rocket Pool has more tailwinds because of the upcoming Shanghai Upgrade in Ethereum and what the protocol inherently solves. Rocket Pool allows ETH holders to stake, slashing capital and hardware requirements, which can be otherwise prohibitive. 
ETH holders can stake as low as 0.01ETH to a node operator and earn annual rewards. In Rocket Pool, a node operator must hold 16 ETH. Once Ethereum permits users who had locked their coins in the Beacon Chain to withdraw, some may delegate coins via Rocket Pool. This expectation supports RPL and other staking service providers, including Lido DAO.
As NewsBTC reported, Lido DAO’s native token, LDO, has been rising in recent weeks, spearheading the broader market recovery.



Trackers on January 18 show that the native token of Rocket Pool, RPL, rallied 55% and is among one of the top performers in the top 100 coins by market capitalization. Rocket Pool is Rallying after Binance Listing The surge coincides with RPL&#8217;s listing on Binance, the world&#8217;s largest...

Rocket Pool price	$39.65
Low - High 24H	$38.72 - $40.22
Market cap	$759.11M
Volume 24H	$8.02M
All time high	$59.46 -33.20% November 9th 2021
All time low	$0.008847 448843.28% August 28th 2018
Genesis date	N/A

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