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Rocket Pool Hits $1B TVL on Ethereum Liquid Staking Market

Published 09/02/2023, 18:20
Updated 09/02/2023, 18:45
© Reuters Rocket Pool Hits $1B TVL on Ethereum Liquid Staking Market

  • Rocket Pool’s TVL doubled in the last two months to reach $1 billion.

  • Over 64% of Rocket Pool’s TVL is in Ether, with the rest in RPL.

  • Rocket Pool now ranks third behind Lido and Coinbase (NASDAQ:COIN) on Ethereum liquid staking market.

Rocket Pool’s total value locked (TVL) has doubled in the last two months, reaching $1 billion. Staked Ether is $641 million of this value, claiming 64.1% of the TVL, with the remaining 35.9% ($359 million) in RPL, the project’s native token.

Rocket Pool is an Ethereum liquid staking pool that focuses on lowering the entry barrier for investors willing to stake their tokens. Rocket Pool’s protocol makes it easier for participants with smaller capital and hardware to take part in the Ethereum staking process. This is possible through an indirect staking system that allows users to stake towards a network of node users through a decentralized system.

The milestone achieved by Rocket Pool places it in the third position in terms of TVL shares held by participating protocols in the Ethereum liquid staking market. The $1 billion TVL equates to 5.64% of the total share in the network, placing Rocket Pool above the likes of Parallel Liqui…

The post Rocket Pool Hits $1B TVL on Ethereum Liquid Staking Market appeared first on Coin Edition.

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