Blockchain intelligence platform Kaiko has tweeted that Rocket Pool (NASDAQ:POOL) (RPL) has outperformed Bitcoin (BTC) and Ethereum (ETH) since the launch of the Shapella Fork, and even outperformed its closest rival, Lido DAO (LDO). The analytics platform also added that Rocket Pool’s Atlas (NYSE:ATCO) upgrade would allow for smaller 8 ETH staking nodes, which may potentially increase its market share. This will also potentially allow it to catch up to its rival Lido, which is currently the market leader of liquid staking protocols.
According to CoinMarketCap, RPL’s price is trading at $54.09 at press time following a 9.67% decrease over the last 24 hours. During this time, the altcoin has also weakened against BTC and ETH by 8.40% and 9.25% respectively. Despite the negative price performance over the last 24 hours, RPL’s weekly performance remains in the green at over 13%.
Meanwhile, LDO’s price has fallen 1.60% over the last 24 hours to trade at $2.49 at press time. Similar to RPL, LDO has also weakened against BTC and ETH over the last 24 hours. Currently, LDO is down 0.01% against BTC and 0.99% against ETH.
At press time, LDO’s market cap is estimated to be $2,170,530,284, which ranks the leading liquid staking protocol at number 31 on CoinMarketCap’s list of the biggest crypto projects in terms of market cap. Meanwhile, RPL is ranked number 54 on the list, with a market cap of $1,051,685,151.
The analytics platform’s tweet regarding RPL’s outperformance of BTC, ETH, and LDO since the launch of the Shapella Fork is a significant development for Rocket Pool. It is worth noting that the cryptocurrency market is highly volatile, and investors should conduct their own research before investing in any cryptocurrency.
In conclusion, Rocket Pool’s Atlas upgrade can potentially increase its market share, allowing it to catch up to its rival Lido, which is currently the market leader of liquid staking protocols. The cryptocurrency market is highly volatile, and investors should conduct their own research before investing in any cryptocurrency.
