SEC accusations caused market turmoil, and Staking concept coins such as LDO and RPL fell sharply!
Why are Staking concept coins affected?
Staking is an emerging mechanism in the field of cryptocurrency that allows coin holders to get rewards by locking their crypto assets. Lido DAO and Rocket Pool are representative projects in this field. Lido DAO provides users with Ethereum 2.0 staking services, while Rocket Pool is a decentralized Ethereum 2.0 staking protocol.
Since Staking projects usually involve large-scale token issuance and financing activities, and these activities are often carried out globally, they are easy targets for regulators. The SEC's accusations have caused investors' confidence in Staking projects to be hit, and they have sold their tokens, causing a sharp drop in prices.
