Rocket Pool (CRYPTO: RPL) has risen 7% over the past 24 hours, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) 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 (NASDAQ: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
