Rocket Pool Investor 1kx Sells 203,319 RPL ($2.38m) Amid Price Surge
CryptoNewsTerminal Staff09 Sep, 2024
Rocket Pool Investor 1kx Sells 203,319 RPL ($2.38m) Amid Price Surge
1kx, an early investor in Rocket Pool, has sold a significant portion of its RPL tokens, taking advantage of a recent price increase. According to data from AmberX, 1kx sold 203,319 RPL (around $2.38 million) on Binance on February 16th. This sale came just one day after Binance launched RPL perpetual futures trading, which led to a 28% increase in the price of RPL. 1kx received 570,393 RPL in December 2021 as part of its investment in Rocket Pool. The firm staked its entire balance on a Rocket Pool node in early 2023, and currently has 315,835 RPL ($3.63 million) staked. It is unclear why 1kx decided to sell a portion of its RPL tokens. However, the sale does come at a time when the broader cryptocurrency market is experiencing a downturn. RPL has also been underperforming in recent months, losing over 50% of its value since reaching an all-time high in November 2021. Despite the recent sale, 1kx remains a major investor in Rocket Pool. The firm's continued support is a positive sign for the project, which is developing a decentralized staking platform for Ethereum.
