rETH Update: Supply Down 1.1%, Node Ops Up, RPIP-81 Vote Opens
Rocket Pool’s bi-weekly protocol update reports mixed fundamentals for rETH. rETH supply fell 1.1% to 329,465, while pending/active minipools rose 1.1% to 18,509. Node operator count also increased 1.6% to 1,500+.
On the tech side, Smart Node v1.20.3 shipped as a low-priority upgrade with client updates and proof optimisations. Rocket Pool also sought input on five R&D roadmap items plus a protocol funding proposal.
Governance: Snapshot opened voting for RPIP-81, focused on RPL inflation rebalancing.
Ecosystem: A new rETH/ETH vault launched on Morpho, expanding DeFi liquidity routes for rETH. Media reports that over $135m of ETH was staked under the Saturn 1 upgrade.
For traders, the combination of lower rETH supply but improving network participation can create short-term repricing risk in rETH-linked flows. However, incremental liquidity/integration progress around rETH may support demand over time.
Neutral
This update is broadly neutral for rETH price impact. The decrease in rETH supply (down 1.1%) can pressure supply-side sentiment in the short term. At the same time, higher minipool participation (up 1.1%) and more node operators (up 1.6%) suggest strengthening staking capacity and reliability, which partially offsets the negative supply signal.
Additionally, new rETH/ETH liquidity access on Morpho improves routing for rETH-related trades, which can support demand and reduce friction over time. Governance (RPIP-81 on RPL inflation rebalancing) is more of a structural token-economic adjustment than an immediate catalyst for rETH.
Net effect: traders may see short-term volatility around rETH flows due to the mixed metrics, but no clear one-direction bullish or bearish driver is dominant, making the expected price impact on rETH neutral overall.