Coinbase Invests Into Rocket Pool; RPL Token To Reach $40?

Crypto News: Coinbase Ventures, the corporate investment arm of United States based crypto exchange Coinbase, on Thursday announced a strategic investment into Rocket Pool, a decentralised Ethereum staking protocol, through the purchase of RPL tokens. Coinbase said that over the last one year, it has been working closely with Rocket Pool cofounders Darren Langley and

Timeline of Rocket-pool

Rocket Pool's (CRYPTO:RPL) price has decreased 4.78% over the past 24 hours to $49.7. This is contrary to the coins performance over the past week where it has experienced an up-trend of 4.0%, moving from $47.9 to its current price.

Rocket Pool (RPL) closed last month with a vicious 20% price decline after hitting a new 2023 peak of $61 on April 17. A critical analysis of the on-chain data suggests that bearish actions from investors exacerbated the price drop.

Crypto whales have helped put in a major top at all-time highs for an Ethereum (ETH)-based altcoin project, according to blockchain data from insights firm Santiment. According to Santiment, whales took profit right at all-time highs when Rocketpool (RPL) peaked above $61.

Rocket Pool native token RPL has recorded increased bullish activity and momentum in what seems to be an interesting turn of events stemming from the just concluded Shapella update and launch. While the Ethereum Shapella launch was much about allowing validators to withdraw staked ETH rewards, crypto enthusiasts and the blockchain community felt some uneasiness and worry about the impact these developments would have on Ethereum price and its staking pool platforms.

Rocket Pool (RPL), a decentralized Ethereum staking pool, has been making waves lately in both its price growth and its overall protocol embrace by virtue of the offerings it brings to the table. According to data from IntoTheBlock, Rocket Pool has largely returned more profits to its wallet addresses than the majority of digital currencies around today.

One of the largest Ethereum (ETH) staking services, RocketPool, suffered a multimillion dollar sell-off today, allegedly caused by a phishing attack. According to Lookonchain, around 85,900 RPL were withdrawn from "poap.eth" and then exchanged for ETH, the equivalent of $3.8 million.

Trackers on January 18 show that the native token of Rocket Pool, RPL, rallied 55% and is among one of the top performers in the top 100 coins by market capitalization. Rocket Pool is Rallying after Binance Listing The surge coincides with RPL's listing on Binance, the world's largest cryptocurrency exchange by trading volume.

Binance announced today to list Rocket Pool in the Innovation Zone and start trading for these spot trading pairs on January 18th at 8:00 UTC. Binance new spot trading pairs are RPL/BTC, RPL/BUSD, and RPL/USDT.