Defi's 30-Day Rise — TVL Increases by $9.3 Billion With Rocket Pool Leading the Pack

Since October 18, 2023, the aggregate value locked in decentralized finance (defi) has witnessed a substantial augmentation of $9.3 billion within a one-month span. Among the leading ten defi protocols, Rocket Pool, known for its liquid staking services, achieved the most notable growth, soaring by 26.94% during the preceding 30 days.

Timeline of Rocket-pool

The digital currency ecosystem is seeing a very aggressive slump with Bitcoin (BTC) leading the downtrend after printing a more than 2% loss overnight. As the market slump is an encompassing one, only a few altcoins like Rocket Pool (RPL) are in the green today.

In a significant development that underscores the growing importance of decentralized Ethereum staking protocols, Coinbase Ventures, the investment arm of the renowned US-based cryptocurrency exchange Coinbase, has announced a strategic investment in Rocket Pool. This move is seen by many as a testament to the potential of decentralized staking networks and the future of Ethereum.

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

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.