A trader redeemed $12.3 million worth of Rocket Pool ether (rETH) on July 24 before sending the proceeds to binance. Reporting by oknightcrypto.
Rocket Pool currently has $1.88 billion in total value locked , making it the second largest liquid staking protocol after Lido, according toTraders stake ether on Rocket Pool to receive a yield, which is currently at 3.64% APR for regular staking and 8.62% for staking 8 ether. Redemptions occur when a trader is looking to either free up liquidity or secure a better yield elsewhere. Binance's ether staking portal currently offers around 4.07% APR.
Rocket Pool's native token has endured a slight correction this month, falling by more than 25% from $38.51 to $30 since the turn of the month.
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