A cryptocurrency whale with the address etherealcapital.eth has made some big moves with the Rocket Pool (RPL) altcoin, a decentralized Ethereum staking pool that offers up to 3.14% APR for staking ETH.
According to data from Etherscan, the whale removed RPL 152,731 (worth about $6.22 million) from its liquidity pools. He then moved 6,270 RPL (approximately $255,000 worth) to a new wallet with the address 0x6fe and exchanged the 270 RPL for 5.72 ETH (approximately $10,900 worth) six hours ago at a price of $40.54 per RPL. This could be the first of many future swaps as the whale tries to cash out some of its profits.
The whale still holds a large amount of RPL in its original wallet, such as RPL 406,000 (worth approximately $16.4 million) at the current price of $40.30 per RPL. This makes it one of the largest holders of the token with a circulating supply of 19.5 million RPL and a market cap of $806.4 million.
Rocket Pool aims to provide a decentralized and unsupervised solution for staking ETH, allowing users to stake as little as 0.01 ETH and receive rETH tokens in return.
*Not investment advice.
