In the United States, regulators have been grappling with the classification of crypto assets as securities, property, or something else for quite some time.
Recently, the Securities and Exchange Commission (SEC), the most stringent regulator, has ramped up its crackdown on crypto staking. In response to this move, let’s take a closer look at how this decision could impact three specific altcoins: Lido DAO (LDO), Rocket Pool (RPL), and Ankr Network (ANKR).
This analysis has been provided by CryptoBusy’s Tom Busby.
Lido DAO (LDO)
Lido is a decentralized liquid staking provider that has been performing well recently. Its 7-day chart and 30-day chart demonstrate an 8% increase in the past 24 hours and a 30% increase over the last thirty days. If the SEC bans centralized staking providers in the US, Lido will benefit greatly. Currently, Lido’s market share is at 25%, while the largest US exchange Coinbase only holds 11.5%. As a result, a majority of cbETH, which likely originates from US customers, could be freed and transferred to Lido, boosting its value.
Rocket Pool (RPL)
As a decentralized Ethereum liquid staking pool, Rocket Pool stands to gain significantly from the US’s restrictions on cryptocurrency staking. Investors will be forced to turn to alternatives, such as Rocket Pool, which has already seen its value increase by 6.7% in the last 24 hours and 43% in the previous thirty days.
Ankr Network (ANKR)
Ankr has the most potential for future expansion among the three altcoins mentioned. Its coin value has risen by 11% in the last 24 hours, and it will likely emerge as the ideal option for investors looking for an alternative when centralized staking is outlawed in the United States.
