Rocket Pool (RPL) has soared more than 20% in the last 24 hours. However, this has been seen to lead to a sell-off by the major investors due to the high-valued gains.
Specifically, 1kxnetwork, a firm that invested in Rocket Pool early on, recently transferred large amount of RPL tokens to Binance. This led to speculation on the future price of the token and whether retail investors should follow the same path.
As per on-chain data, the said transfer by 1kxnetwork amounted to 203,320 RPL tokens worth $2.37 million to Binance. This move was made possible after Rocket Pool’s price rallied by 22% following the introduction of perpetual contracts for RPL on Binance.
Investment firm @1kxnetwork just deposited 203,320 $RPL ($2.37M) to #Binance after the price surged 22% following Binance’s perpetual contract launch.
As an early @Rocket_Pool investor, 1kx received 500K $RPL in Dec 2020 at only $2.56. Since Aug 29, 2024, they’ve deposited… pic.twitter.com/nw2J23YBYk
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We współpracy z: https://www.thecoinrepublic.com/2024/09/11/institutions-offloading-rocket-pool-after-surge-time-to-sell/
