NewsletterCoinbase 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 Dave Rugendyke. “We have deep admiration for their commitment to building one of the largest, decentralized staking networks over the past 6+ years,” it said in a statement.
Also Read: XRP Advocate Deaton Challenges SEC’s Ripple Verdict Appeal Igniting Legal Debate
Rocket Pool is ranked 68 among major cryptocurrencies in the world with a total market cap of $555 million. The network allows users to stake Ethereum (ETH) while retaining liquidity. Currently, the decentralized network consists of over 3,100 node operators with more than 780,000 ETH staked.
Coinbase Nodes On Rocket Pool Network
Coinbase said it plans to run hundreds of nodes on Rocket Pool to support safe and decentralized Ethereum infrastructure. Recently, the exchange launched Base, a new Ethereum layer 2 protocol.
“We are delighted to support Rocket Pool via active participation in their Oracle DAO and using ETH from our corporate balance sheet to operate several hundred nodes on the Rocket Pool network.”
Rocket Pool RPL Token Bullish; What Next
Interestingly, Rocket Pool network has by far the most node operators than any other staking provider, showing emphasis on the decentralization push. In comparison, Lido Finance has just 29 nodes. Meanwhile, the Rocket Pool RPL token price could be up for a major upswing in the coming weeks, thanks to the Coinbase investment. In the last 24 hours, the RPL token surged by around 8%. It remains to be seen if it could gain a 40% rise, nearing $40, considering Coinbase purchased the RPL tokens directly.
Also Read: Binance CEO Acknowledges Fireblocks’ Report On Crypto Vulnerabilities
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- U.S. CFTC Scraps Outdated Crypto Market Rules, Clearing Path for Modern Oversight
- Breaking: JPMorgan Issues Short-Term Bond on Solana as Institutions Move Markets On-Chain
- Breaking: 21Shares XRP ETF Launches as XRP Funds Extend Inflows Streak
- Are DATs Being Targeted? Strategy CEO Questions MSCI’s Proposed Exclusion From Global Indices
- Crypto Bill Talks Stall as Senate Democrats Push Back on Stablecoin Yield Provisions
- Ethereum price prediction following $57.6M ETF Inflows – What’s Coming?
- Here’s Why Solana Price Could Explode to $150 Soon
- XRP Price Hits Crucial Support as ETF Inflows and Top RLUSD Metrics Soar
- Dogecoin Price Set to Rebound to $0.20 After Symmetrical Triangle Breakout
- Cardano Price Dips 10% as Midnight Token Launch Turns Sour
- Bitcoin Price Holds $90k as Markets React to Fed Rate Cut: Will BTC Rally to $100k or Fall to $80k?
