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Earlier today, Coinbase CEO Brian Armstrong said on Twitter that he heard rumors that "the SEC would like to get rid of crypto staking in the U.S. for retail customers".
Following the news, major Liquid Staking Derivatives (LSD) projects' token prices went up further in the last 24 hours.
Lido DAO ($LDO) price went up 5.43% in the last 24 hours. $LDO is the governance token of Lido DAO. Lido provides decentralized liquid staking solution for Ethereum and other PoS chains (such as Solana, Polygon, Polkadot, and Kusama).
As the leading Ethereum liquid staking protocol, Lido allows users to deposit $ETH into Lido and receive $stETH at a 1:1 ratio, which represents the ownership of the staked $ETH. Users can use $stETH to provide liquidity on the ETH/stETH-pool on Curve, so that they can receive the Ethereum's Consensus Layer staking reward while also earning from the DeFi product.
SSV Network ($SSV) jumped 15.43% in the last 24 hours, with its price surging to a new all-time-high of $36.91 at one point. Over the past 90 days, the SSV price went up over 300%.
SSV Network is a decentralized staking infrastructure protocol that aims to simplify the process of staking and running validator nodes on the Ethereum's consensus layer. Users who want to become validators and $ETH staking providers can stake their $ETH in SSV validator nodes and pay a fee in $SSV tokens to operators for managing their validator(s).
Rocket Pool ($RPL) price went up 12.84% in the last 24 hours and up 199.86% in the last 3 months.
Rocket Pool, a decentralized staking protocol based on Ethereum, allows users to receive rETH after depositing $ETH into the protocol. rETH is the representative token of both how much ETH you deposited and when you deposited these $ETH into Rocket Pool ETH protocol. When Ethereum is successfully Merged and the staked $ETH is available for redemption, users can return rETH to the protocol, then redeem $ETH and the corresponding share of the $ETH reward.
Frax Share ($FXS) price went up 7.23% in the last 24 hours. $FXS is the governance token of Frax Protocol, a decentralized algorithmic stablecoin protocol.
frxETH is a liquid staking derivative issued through Frax Finance's new liquid staking product, pegged 1:1 to $ETH. Users stake $ETH will receive an equivalent amount of frxETH as a certificate, and then have the option to continue to stake frxETH and receive sfrxETH as a certificate to earn staking rewards, or deposit frxETH into the frxETH/ETH pool on Curve Finance to become a liquidity provider and earn LP rewards.
In addition to the general rise in major LSD projects, it is also worth noting the liquid staking derivative issued by crypto exchange Coinbase, $cbETH. $cbETH's price has dropped more sharply than ETH's price since the rumors of the SEC staking ban came out, while changes in the prices of other decentralized liquid staking derivatives do not differ much from changes in the price of ETH.
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