- Lido has the largest Total Value Locked, which is $8.05b
- Rocket Pool is the first decentralized Ethereum staking pool
- Coinbase CEO’s comments affected the price of LDO and RPL
According to crypto analysts, the prices of RPL and LDO skyrocketed amid the upcoming Shanghai upgrade for the Ethereum network. However, the global crypto market struggled and descended by 2.35%.
Since January 2023, trading prices of Lido DAO and Rocket Pool have surged by more than 50%. In the last 30 days, LDO, the native token, traded at $1.77 and highest traded at $2.97, meaning the prices grew by 68% in a month.
Similarly, RPL, the native token of Rocket Pool token, allegedly surged by 111% through January. The lowest trading price of RPL was $25.18, and the highest was $53.3. In the weekly context, the prices grew by around 25%.
On February 9, 2023, Brian Armstrong, Chief Executive Officer of Coinbase, tweeted, “We’re hearing rumors that the SEC would like to get rid of crypto Staking in the U.S. for retail customers. I hope that’s not the case as I believe it would be a terrible path for the U.S. if that were allowed to happen.”
Brian believes that “Staking is a really important innovation in crypto. It allows users to participate directly in running open crypto networks.” Furthermore, he added, “Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints.”
Source: https://www.thecoinrepublic.com/2023/02/10/lido-dao-and-rocket-pool-boosted-heres-all-that-you-need-to-know/