The SEC’s crackdown on Kraken sent tremors through the crypto market, but $LDO, FXS and $RPL could benefit from the newly freed up ETH staking market share.
While the overall crypto market was down after the SEC announcement, bright spots arose, with decentralized liquid staking tokens LDO, RPL and FXS quickly rebounding from their sharp corrections.33% of all staked Ether, and if U.S.-based centralized exchanges are “forced” to cease offering staking-as-a-service programs, liquid staking derivatives providers could absorb that market share.
Based on recent tweets, crypto traders are well aware of this potential outcome, and this could be part of the reason for the short-term rebound seen in Lido’s LDO, Rocket Pool’s RPL and Frax’s FXS. Let’s take a look at some fundamental data points that might back their bullish thesis.The aftermath of Kraken’s capitulation to the SEC could spill over to other
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