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An Ethereum (ETH) ecosystem altcoin noticed a value soar on Thursday after Coinbase’s enterprise capital arm introduced a strategic funding.
Coinbase Ventures announced on Thursday that it’s investing in Rocket Pool (RPL), a decentralized Ethereum staking pool supposed to decrease capital and {hardware} must stake on ETH 2.0.
“Thrilling information to share: Coinbase Ventures lately made a strategic funding into Rocket Pool by buying RPL tokens from the Rocket Pool workforce.”
The RPL token is used for governance and collateral.
Coinbase Ventures says it admires the Rocket Pool workforce’s “dedication to constructing one of many largest, decentralized staking networks over the previous 6+ years.”
“Along with our efforts this On-chain Summer time with the launch of Base mainnet, we imagine scaling Ethereum’s infrastructure in a secure, decentralized method is vital to bringing the following billion customers on-chain.
We all know the Rocket Pool workforce shares this perception and we’re delighted to help them through lively participation of their Oracle DAO (decentralized autonomous group) and utilizing ETH from our company stability sheet to function a number of hundred nodes on the Rocket Pool community alongside our buddies Unit 410.”
RPL is buying and selling at $28.57 at time of writing. The 77th-ranked crypto asset by market cap is up greater than 5.5% up to now 24 hours. The token, nonetheless, nonetheless stays practically 54% down from its all-time excessive of $61.90, which it set in April.
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