Rocket Pool (ETH: $RPL) functions as a staking pool tailored for Ethereum 2.0, aiming to diminish the hardware and capital prerequisites associated with ETH 2.0 staking. This initiative contributes to the increased decentralization and security of the Ethereum network.
As a decentralized staking infrastructure service provider, Rocket Pool empowers users, decentralized applications (DApps), and enterprises to benefit from staking their Ethereum (ETH) holdings on the beacon chain. The underlying protocol is powered by the $RPL token, the real-time value of which can be monitored on Binance.
The core components of Rocket Pool consist of three entities: Smart Contracts, Smart Node Networks, and Minipool Validators.
Smart Contracts within Rocket Pool manage the issuance and tracking of various tokens, facilitate the receipt of staked ETH deposits, manage interactions with the beacon chain, and allocate them to node operators.
Moreover, these contracts possess the capability to identify instances where a smart node in the network has encountered a failure, promptly disabling it until the issue is resolved to prevent further user engagement.
The Smart Node Network forms a decentralized network comprising specialized Ethereum nodes running Rocket Pool node software. These nodes execute customized back-end processes to engage with smart contracts in Rocket Pool, providing the necessary network consensus for the beacon chain. Individuals with 16 ETH can participate in operating a smart node, receiving additional rewards from the network.
Minipool Validators, another integral smart contract within Rocket Pool, are created by node operators. When a node operator deposits 16 ETH in their node, the corresponding minipool contract collects an additional 16 ETH from users participating in the staking pool.
Once the Minipool accumulates 32 ETH, the funds are sent to the beacon chain to initiate staking, creating a new validator and enabling the staked ETH to earn rewards.
In addition to staking rewards, the $RPL token serves a governance role. The Rocket Pool protocol is overseen by two decentralized autonomous organizations (DAOs): the Protocol DAO (PDAO), representing active users and contributors to the protocol’s development, and the Oracle DAO (ODAO), consisting of reputable stakeholders who contribute to the protocol’s success and oversee significant updates.
Price of RPL Today
The current value of Rocket Pool stands at $28.49 per (RPL/USD), and its present market capitalization is $563.26 million USD. The 24-hour trading volume is reported at $7.61 million USD. The real-time RPL to USD price is continually updated. Over the last 24 hours, Rocket Pool has experienced a positive growth of +5.16%, and it currently has a circulating supply of 19.77 million.
Rocket Pool Historical and Price Prediction For 2023, 2024 and 2025
As per the most recent data available, Rocket Pool is currently valued at $28.49, holding the 79th position in the overall cryptocurrency ecosystem. The circulating supply of Rocket Pool is $534,546,596.43, accompanied by a market cap of 19,768,220 RPL. Over the past 24 hours, the cryptocurrency has experienced a $0.09 increase in its present value.
Notably, over the last 7 days, RPL has demonstrated a positive upward trend, showing a growth rate of +5.16%. With Rocket Pool exhibiting substantial potential in recent times, this presents a favorable opportunity for potential investors.
Over the last month, RPL has seen a notable price surge of 34.03%, contributing an impressive average increase of $9.20 to its current value. This sudden surge suggests that the coin could evolve into a robust asset if the growth trajectory continues.
In terms of the technical analysis predicting Rocket Pool prices in 2023, the projected minimum cost is $23.51, while the anticipated maximum level is $27.20. The average trading price is expected to hover around $30.89.
Further analysis, considering Rocket Pool’s historical prices, suggests that in 2024, the minimum price may be around $22.87, with a maximum expected RPL price of approximately $36.85. On average, the trading price is projected to be $50.83 in 2024.
Drawing insights from cryptocurrency experts’ technical analysis, the expected minimum and maximum prices for RPL in 2025 are estimated to be around $64.90 and $78.03, respectively. The average anticipated trading cost is projected to be $66.74.
What Makes Rocket Pool Different From Others?
Rocket Pool asserts that it eliminates certain significant entry obstacles associated with Proof of Stake on Ethereum 2.0 for individuals, groups, and businesses.
Functioning as a decentralized staking solution for Ethereum 2.0, Rocket Pool facilitates the staking of Ether without necessitating the operation of a node.
In contrast to alternative staking solutions, it does not impose restrictions on the number of validators, is accessible to all, and permits users to collaboratively pool their ETH, enhancing their likelihood of being chosen as validators.
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