On September 9, 2024, Binance, a leading global crypto exchange, announced the listing of Rocket Pool (RPL) perpetual contracts.
This new offering, available on Binance Futures, features the RPLUSDT Perpetual Contract with up to 75x leverage and operates around the clock. This addition expands trading options on the platform.
Rocket Pool Surges Despite Inactive Social Media
The listing comes after a notable period of inactivity from Rocket Pool’s social media, which hasn’t seen updates since December 19, 2023. Despite this, the announcement caused RPL’s price to surge by 30% initially. While the price has since stabilized, it has maintained a gain of about 26% since the announcement.
The new perpetual contract, traded against USDT (Tether), includes a tick size of 0.01 and a capped funding rate of +2.00% / -2.00%, with funding fees settled every four hours. This setup offers traders enhanced flexibility.
Multi-Assets Mode and Geographic Expansion
Binance Futures now supports Multi-Assets Mode, allowing traders to use various cryptocurrencies, including BTC, as margin. This feature helps manage risks by diversifying collateral options.
Binance is also advancing its geographic expansion. Tokocrypto, a Binance subsidiary in Indonesia, recently secured a full license from the Commodity Futures Trading Regulatory Agency (Bappebti) as a Physical Crypto Asset Trader (PFAK). This milestone strengthens Binance’s presence in Southeast Asia.
Richard Teng, CEO of Binance, praised Tokocrypto’s achievement, highlighting Binance’s commitment to supporting Indonesia’s Web3 ecosystem. This support is crucial as Indonesia has recently intensified its regulatory measures, requiring all crypto exchanges to register with the national bourse for crypto assets, regulated by Bappebti.
