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A recent surge of negative sentiment against the decentralized staking protocol Rocket Pool (RPL) has puzzled data onlookers. According to crypto analytics provider Santiment, RPL saw a spike in mentions on Nov. 6, topping the trending chart with 40% of that chatter’s negative tone. The vitriol stands in stark contrast to the sunny outlook for Ethereum (ETH), which garnered over 54% positive and 29% negative sentiment on the same day. Rocket Pool’s social value | Source: Santiment What is Rocket Pool, and why the hate? Rocket Pool aims to open up Ethereum staking to users who lack the 32 ETH needed to run a solo validator node. Using a tokenized staking system called rETH, users can stake with as little as 0.01 ETH and earn staking rewards. You might also like: Coinbase invests in Rocket Pool, RPL rises 8% The protocol also enables node operators to earn higher returns than solo staking by taking a cut of rewards from user deposits. Rocket Pool emphasi...

The Ethereum network has faced withdrawals from its smart contract applications, putting the recent ETH price rally in check. Ether (ETH) price faced resistance after hitting the $1,970 level on July 3. A number of factors capped the rally, including higher odds of more interest rate hikes in the coming months and a tighter regulatory cryptocurrency environment. Macro headwinds from the Fed Besides the external factors, the Ethereum network has faced withdrawals from its smart contract applications, which also put the June rally in check. Investors now question whether the tailwinds from Bitcoin’s (BTC) ETF requests have faded, opening room for a correction down to the $1,700 level last seen on June 16. The recent macroeconomic events may provide some hints, including the, U.S. Gross Domestic Product grew by an annualized 2% in the first quarter, Germany’s Consumer Price Index increased 6.8% in June versus the previous year, and The China Caixin global services purchasing managers’ i...

April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. April saw several hacks, exploits and rug pulls that resulted in a net loss of over $100 million among several DeFi protocols. Amid the growing memecoin frenzy, the chances of exploits have increased multifold, with WallStreetBets — a popular trading sub-Reddit group — allegedly rugging its users for $635,000 just days after airdropping about $15,000. DeFi protocol Level Finance was a victim of an exploit resulting in the loss of nearly $1 million. The attacker manipulated a “claim multiple” bug in a Level Finance smart contract to steal more than 214,000 native Level Finance (LVL) tokens from the exchange. The volume of liquid staking protocols has dramatically risen in the past co...