The price of liquid staking platform Lido tokens has soared following rumors from Coinbase CEO Brian Armstrong that the Securities and Exchange Commission (SEC) may prohibit retail investors from staking Crypto.
LDO rose about 11% immediately following the rumors. and an increase of about 8.4% in the past 24 hours.
The Lido protocol allows ETH staking, whereby users receive a token called stETH and can be exchanged 1:1 for ETH. It’s unlikely that it would be subject to regulations from a federal agency in the US like Coinbase does.
Data from DeFiLlama shows that the total value locked in Lido increased 33% last month, with Lido currently having TVL is $8.56 billion.
refer : LINK
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