CandleFocus Institutions Offloading Rocket Pool After Surge: Time to Sell?
2024-09-11
Author: Content Editor
Rocket Pool (RPL) has experienced a 20% surge in the last 24 hours, leading to major investors selling off their holdings. 1kxnetwork, an early investor in Rocket Pool, has transferred a large amount of RPL tokens to Binance, sparking speculation on the future price of the token. The transfer amounted to 203,320 RPL tokens worth $2.37 million. Despite offloading tokens, 1kxnetwork still holds 315,835 tokens and believes in the project. The surge in Rocket Pool's price was triggered by the introduction of perpetual contracts on Binance. However, recent data suggests that RPL's price is starting to decline again, indicating sellers remain in control. It is unclear whether this is the beginning of a longer correction or a retracement.
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