Coinbase Ventures Expands Relationship with Rocket Pool by Purchasing RPL Tokens
Coinbase Ventures, the investment branch of the largest publicly traded U.S. crypto exchange, has announced its purchase of Rocket Pool’s native token RPL. Here are the key points:
– RPL has experienced a 9% jump in the past 24 hours, reaching $28.82.
– Rocket Pool’s ecosystem benefits from RPL, which provides incentives, insurance, and governance.
– Coinbase Ventures previously joined Rocket Pool’s Oracle DAO, a group of special node operators.
– The amount of RPL acquired by Coinbase Ventures remains undisclosed, but it is described as a strategic investment.
– The investment signifies Coinbase’s confidence in Rocket Pool and RPL.
Rocket Pool is a popular liquid staking platform, offering a 3.33% APY for staking ether. It currently holds over 779,000 ETH, worth about $1.4 billion, making it the third most popular platform in terms of total value locked. Coinbase Ventures’ investment further solidifies Rocket Pool’s brand and its position in the crypto market.
Hot Take:
Coinbase Ventures’ purchase of Rocket Pool’s native token RPL demonstrates a strong belief in the protocol and its potential for growth. This strategic investment further enhances Rocket Pool’s reputation and solidifies its position as a leading player in the liquid staking space. With Coinbase’s backing, Rocket Pool is poised to attract more users and continue expanding its ecosystem.
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