Crypto News: Lido DAO (LDO) and Rocket Pool (RPL) Prices Skyrockets, Here’s Why

Crypto News: Amid the upcoming Shanghai upgrade for the Ethereum network, Lido DAO, and Rocket Pool has been in the news over the past week. While the Crypto market generally recorded a 2.35% decrease in the last 24 hours, many assets faltered, but some tokens like LDO and RPL recorded exponential gains. Along with this, a recent tweet from Coinbase CEO Brian Armstrong gave a push to Lido DAO’s price rally.

As previously reported by the Coingape, Armstrong has heard rumors that the U.S. Securities and Exchange Commission (SEC) is planning to entirely ban crypto staking for retail investors.

Crypto News: Lido DAO and Rocket Pool Prices Skyrocketing

According to CoinMarketCap, Lido DAO, and Rocket Pool’s native tokens have soared nearly 11.22% and 15.83% in the last 24 hours. Many investors attributed this price surge to Ethereum’s upcoming Shanghai upgrade that will enable users to withdraw their staked ETH tokens.

Rocket Pool – A decentralized Ethereum staking pool

Rocket Pool is a decentralized Ethereum staking pool that allows users to earn a commission from staking ETH and earn additional RPL. Along with liquid staking, Rocket Pool offers smart nodes: a custom node software allowing anyone to run a node on its network.

Source – CoinMarketCap

Rocket Pool’s price today is $46.98, with a 24-hour trading volume of $46,090,877. RPL is up 13.83% in the last seven days. Read more crypto news here…

Lido DAO – Offers DeFi lending services

The Lido DAO project is a staking platform that also offers DeFi lending services and requires no minimum deposits.

Source – CoinMarketCap

“I hope that’s not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen,” he tweeted Wednesday. The token surged around 11% in the immediate aftermath of the comments and is up around 11.22% in the past 24 hours with a trading volume of $633,142,167.

Also Read: Breaking: Crypto Market Falls After US Fed’s Williams Support 5-5.25% Rate Hike

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