Staking Pool Token Surges 13% To Outshine Bitcoin, Ethereum Despite Kraken Hurdle

Rocket Pool RPL/USD has risen 7% over the past 24 hours, outperforming Bitcoin BTC/USD and Ethereum ETH/USD gains.

What Happened: The rally comes as cryptocurrency exchange Kraken suspended its staking operations in a Securities and Exchange Commission settlement.

At the time of writing, RPL was trading at $52.18, while apex coin BTC was down 3.31% at $21,826 and ETH fell 5% to $1,541.

Rocket Pool is a decentralized Ethereum staking platform that offers users to earn commission from staking ETH and earn RPL tokens. 

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1.1 billion in total value locked (TVL) on Friday midnight. 

Meanwhile, Coinbase COIN CEO Brian Armstrong on Wednesday expressed concerns over hearing rumors about the SEC getting “rid” of cryptocurrency staking in the US for retail customers.

Read Next: Bitcoin, Ethereum, Dogecoin Tumble After Kraken Pauses Staking: Analyst Warns Uptrend Loss If Apex Crypto Drops Below This Level

Photo courtesy: Rocket Pool