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Rocket Pool Sees 50% Surge Amid Houston Upgrade, $RPL Stabilizes at $27

Jun 14, 2024, 11:17 AM

Rocket Pool, the oldest and most trusted decentralized staking protocol on Ethereum, is experiencing significant gains as it prepares for the Houston upgrade. Voting for the Houston upgrade is currently underway. The price of Rocket Pool's token, $RPL, surged over 50% from $18 to over $35, currently stabilizing at $27. This price increase follows a proposal to rework its tokenomics, which includes $RPL no longer acting as a collateral token and instead directly capturing value. The Houston upgrade, set to go live this weekend, will see Rocket Pool's $rETH chosen as the asset backing, highlighting the protocol's commitment to decentralization. The ETH ratio has seen a near 100% gain. Institutions are also showing interest in staking with Rocket Pool, and there is potential for revenue sharing to $RPL holders.