Crypto News: Amid the upcoming Shanghai upgrade for the Ethereum network, Lido DAO and Rocket Pool have been in the news for the past week. While the Crypto market overall registered a 2.35% decline in the past 24 hours, many assets faltered, but some tokens such as LDO and RPL posted exponential gains. In addition, a recent one tweet of Coinbase CEO Brian Armstrong gave impetus to the Lido DAO price rally.

As previously reported by the Coingape, Armstrong has heard rumors that the US Securities and Exchange Commission (SEC) plans to completely ban crypto staking for retail investors.

Crypto News: Prices of Lido DAO and Rocket Pool are skyrocketing

According to CoinMarketCap, Lido DAO and Rocket Pool native tokens are up nearly 11.22% and 15.83% in the past 24 hours. Many investors attributed this price increase to the upcoming Ethereum upgrade in Shanghai, which will allow 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 commission by staking ETH and earn additional RPL. In addition to liquid staking, Rocket Pool offers smart nodes: custom node software that allows anyone to run a node on their 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 past 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 because I believe it would be a terrible road for the US if that happened,” he tweeted Wednesday. The token was up around 11% in the immediate wake of the comments and is up around 11.22% over the past 24 hours with a trading volume of $633,142,167.

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

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The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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